COBALT counselled sale of 50% holding in Apollo store chain

COBALT counselled its long-term client, the owner of Apollo, the biggest bookstore and leisure store chain in Estonia, in the sale of 50% holding to UP Invest OÜ, an investment company belonging to MM Group and a majority shareholder of Eesti Meedia that is the owner of the newspaper Postimees.

Apollo is a store chain based on Estonian capital, consisting of 14 stores in Tallinn and other major centres all over Estonia. After the transaction, one-half of the holding in the company will be held by the former owners, and the parties will continue their cooperation in the form of a joint undertaking.

From COBALT, the client was counselled by partner Aivar Taro and associate Erki Parik.

Our assignment comprised counselling on the sale transaction and regulation of the relations among the partners of the joint undertaking.

See also the media coverage and read the comments of the parties in Majandus24 (in Estonian).