Apollo Group acquires additional shares in Lido

The Estonian subsidiary of Apollo Group, Treeland OÜ, has finalized a transaction to increase its ownership in Latvian restaurant chain Lido AS to 96%. The acquisition of an additional 21% of shares solidifies Treeland Group’s position as the majority shareholder.

Lido founder Gunārs Ķirsons will retain a 4% stake in the company but has withdrawn from the Supervisory Board.

The COBALT M&A team provided full legal support to Treeland throughout the transaction process, including preparing transaction documents. The team was led by Senior Associate Diāna Zepa.