COBALT, together with colleagues from Roschier, advised the Norwegian retail chain Reitan Servicehandel in its acquisition of the retail chain R-Kioski from the Finnish media concern Sanoma OY. R-Kioski comprises R-Kioski chain in Finland, R-Kioski in Estonia and Lithuania, and Lietuvos Spauda in Lithuania.
The closing of the deal worth EUR 130 million is expected to occur in a couple of months after obtaining a clearance from the European Commission. Following the acquisition Reitan Servicehandel will control more than 2,500 stores with the aggregate turnover of EUR 1.9 billion to become Europe’s second largest convenience store operator after the French-owned Lagardere. Reitan Servicehandel is owned by Norway’s fifth largest company Reitan Group.
COBALT work included the due diligence of the Lithuanian chain, advice concerning the risks discovered during the due diligence, as well as proposed corporate reorganisation, and transaction documents. The transaction was led by Senior Associate Eva Suduiko, with assistance from the firm’s Senior Associate Rūta Radzevičiūtė and other associates.