Cobalt has advised the shareholders of the Lithuanian Apotheca Vaistine pharmacy chain on its sale to Magnum. Eversheds Sutherland reportedly advised the buyer.
The transaction remains contingent on the Competition Council’s regulatory approval.
Apotheca Pharmacy network includes 48 pharmacies operating in Lithuania.
Magnum is a pharmaceutical wholesale and retail group that owns 17 companies in Estonia, Latvia, Lithuania, Finland, and Belarus, with a total turnover of more than EUR 500 million in 2020. Magnum has operated 13 pharmacies in Vilnius, Panevezys, Kaunas, Klaipeda, and other cities in Lithuania.
The Cobalt team was led by Partner Juozas Rimas and Associate Kostas Grigaitis.