COBALT advised UAB Martesa on the acquisition of 100% shares in UAB PONTEM

COBALT advised UAB Martesa on the acquisition of 100 per cent shares in UAB PONTEM. Half of the shares were acquired from AB ŽIA Valda for over EUR 3.7 million.

UAB Martesa and AB ŽIA Valda deal was officially closed on 17 October 2013. The deal was financed by AB DNB bank. After closing, UAB PONTEM will be controlled by the consortium led by founder of UAB Martesa Petras Vasiliauskas.

UAB PONTEM (formerly UAB Smulkus urmas) is a major leading provider of food products wholesale and catering services, operating on the Lithuanian market for 20 years. Last year’s turnover of PONTEM reached EUR 20 million. The company employs over 800 professionals throughout the country.

COBALT assistance included structuring of the deal, drafting, negotiating and organising the execution of the required documents, assistance in obtaining financing for the deal, fulfilling conditions precedent, and closing. The project was led by Dr Irmantas Norkus, Managing Partner of COBALT, and Akvilė Bosaitė, Managing Associate of COBALT.