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COBALT advised Avitelos prekyba in the acquisition of GV Group which operates Elektromarkt stores

2019-11-12

COBALT advised Avitelos prekyba in the acquisition of GV Group which operates Elektromarkt stores. Following this transaction, Elektromarkt stores will become part of the Avitela group, but will retain two separate brands. The company‘s proximate goals include expanding its range, focusing on customer service solutions and on the largest Elektromarkt stores in Nordika and Panorama shopping centres.

COBALT client Avitela operated 21 stores in 20 Lithuanian cities prior to the acquisition of Elektromarkt. Avitela is one of the largest consumer electronics retail chains in Lithuania, established in Klaipėda and operating for more than two decades.

Elektromarkt is one of the largest consumer electronics and computer equipment retail chains in Lithuania, active in both retail and wholesale. This chain has more than 13 stores in 9 major cities of Lithuania.

COBALT prepared transaction documents, represented the client in negotiations, provided advice on transaction-related issues. The project team included Elijus Burgis, Partner and Head of Corporate Transactions Department, Rasa Zaščiurinskaitė, Partner, Ignas Jurkynas and Samanta Šereikaitė, Associates.