Ellex has advised HOF Ehf on the sale of Baltic IKEA stores to Inter IKEA Group. Walless advised FE Corporation, the sellers of the Lithuanian store operator. Sorainen reportedly advised Inter IKEA Group.
The transaction’s financial terms have not been disclosed.
According to Ellex, the deal covers three large IKEA stores in the Baltic capitals, five smaller customer service locations, as well as e-commerce and IT business lines. Under the new arrangement, IKEA will continue operating in the Baltic states under a franchise model, with Inter Ikea Systems as the franchisor.
The Ellex team included Latvia-based Partner Ilga Gudrenika-Krebs, Senior Counsel Eduards Dzintars, Senior Associates Anna Misneva, Inese Freivalde, and Kaspars Oisevskis and Estonia-based Partner Martin Kaerdi and Senior Associates Karin Tartu, Liisbeth Eero, Alla Kuznetsova.
The Walless team included Partner Gediminas Reciunas.
