Cobalt has advised MyInvest Estonia on its sale of the Bauhof hardware store chain to Lithuanian hardware store chain Ermitazas, a subsidiary of the Vilniaus Prekyba Group. The buyer was represented by TGS Baltic Lithuania.
Completion of the transaction is subject to merger clearance by the Estonian Competition Authority.
According to Cobalt, while "Bauhof is the leader in building materials and DIY retail market with its 13 stores in Estonia, Ermitasas belongs to one of the largest business groups in Lithuania, Vilniaus Prekyba. Among its biggest subsidiaries are Maxima Group, pharmacy chain Euroapotheca, chain of construction and finishing materials Ermitazas, and commercial real estate development and management company Akropolis.”
In its own press release, TGS Baltic said, that "after the acquisition, it is expected that Ermitazas will be the third largest merchant of construction materials and household items in the Baltics."
The Cobalt team included Senior Associate Kristjan Kotkas, Partner Peeter Kutman, and Associates Madis Reppo, Liina Saaremets, and Marit Martens.
The TGS Baltic team included Partners Marius Matonis, Dalia Tamasauskaite-Ziliene, Kadri Kallas, and Sander Karson, Advocates Indre Vickaite and Katri Paas-Mohando, and Associate Advocates Ramunas Svencionis and Giedrius Svidras.
