Lextal’s Tallinn office has advised Alarmo Kapital, the majority shareholder of Arco Vara, on its takeover bid of EUR 1.3 per share for the remaining shares in the company.
Lextal reported that, “according to the regulations of the [Estonian] securities market, a shareholder who has a majority shareholding in a listed company must make a public offer to other shareholders for the acquisition of their shares.”
Alarmo Kapital acquired a total of 1,284,354, or 14.2%, of Arco Vara’s shares. As a result of the transaction, Alarmo Kapital will own a total of 5,948,596, or 66.1% of Arco Vara’s shares, and has subscribed for additional 390,000 shares in the company.
Lextal’s team consisted of Partner Kristi Sild and Lawyer Kaisa-Maria Kubpart.