Sorainen has advised Inchcape International Holdings Limited, a wholly owned subsidiary of Inchcape plc, on the acquisition of BMW's distribution business in Lithuania from UAB Modus Group, which was advised by Ellex Valiunas.
The transaction is subject to clearance from the competition authority.
Modus Gourp subsidiary UAB Inter Krasta entered into the shares sale and purchase agreement with Inchcape International Holdings Limited from Great Britain on the sale of 100% shares in UAB Krasta Auto, UAB Krasta Auto Kaunas, and UAB Krasta Auto Klaipeda. Under this transaction UAB Inter Krasta will transfer its BMW automotive business in Lithuania.
According to Sorainen, “the acquisition further strengthens Inchcape’s relationship with BMW Group – a core brand partner – in Northern Europe and completes the Inchcape-led consolidation of BMW’s representation across the Baltic region. Inchcape already represents BMW Group as distributor in Latvia and in Estonia. The acquisition in Lithuania is consistent with the Group’s strategic priority of investing to accelerate growth.”
The Sorainen team was led by Partner Sergej Butov and Senior Associate Jonas Kiauleikis and consisted of Counsel Vitalija Tamaviciute and Associates Laura Matuizaite, Karolis Kunigelis, and Sidas Sokolovas.
Ellex Valiunas' team was led by Partner Paulius Gruodis and Associate Mantas Juska, supported by Associate Partner Dovile Skesteniene and Junior Associate Arvydas Gruseckas.