COBALT is acting for real estate (RE) company group Resolution Holdings, which operates Newsec and Re&Solution brands in Lithuania, on the acquisition of a subsidiary RE intermediation services provider UAB Luminor būstas.
Closing, which is anticipated to occur in some 3 to 4 months’ time, will be followed by a name change of UAB Luminor būstas to Resolution. Services will be provided under the Re&Solution brand. The deal value is not yet disclosed.
The Resolution Holdings company group has its presence across the Baltic countries. It operates such companies as Newsec valuations, Newsec advisers LT, Newsec Finance LT, Newsec property management LT, Newsec project management, and NWC valuations.
The work of COBALT includes drafting and reviewing contracts and other related documents, rendering general legal advice on all aspects of the acquisition. The team is led by Elijus Burgis, a Vilnius-based Partner and Head of the firm’s Corporate Transactions Department, and Associate Julija Timoščenko.