COBALT advised Genopas B.V. and Nunica Holdings B.V. on the sale of 100 per cent of shares in one of Lithuania’s largest biofuel production and supply companies UAB Pusbroliai to Idex Baltic. Genopas B.V. is owned by Lithuanian investor Artūras Rakauskas; Nunica Holdings B.V. is owned by the investment group Žabolis ir partneriai. This transaction will contribute to the development of renewable energy in Lithuania.
UAB Pusbroliai is a business of forestry, sale and production of biofuel and related activities. Operating since 2008, Pusbroliai sells biofuel, forest and round wood.
90 per cent of shares of Idex Baltic are owned by Idex Group, whereas the remaining part are owned by UAB „GECO Investicijos“. French renewable energy group Idex, part of Antin, one of the largest investment companies in Europe, was founded in 1963. The Idex Group operates 60 biofuel boiler facilities and 16 waste-to-energy plants.
COBALT prepared transaction documents, represented the clients in negotiations, provided advice on transaction-related issues. The project team included Elijus Burgis, Partner and Head of Corporate Transactions Department, and Žygintas Voronavičius, Senior Associate.