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TGS Baltic Advises Akropolis Group on Renovation Agreement for Vilnius Shopping Center

TGS Baltic Advises Akropolis Group on Renovation Agreement for Vilnius Shopping Center

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TGS Baltic has advised Akropolis Group, UAB in negotiations with UAB Mitnija on the renovation of the  Akropolis shopping and entertainment center in Vilnius.

Although financial details of the transaction were not disclosed, TGS Baltic reports that "Akropolis intends to invest EUR 14 million in the renovation. It is expected that around 13,000 square meters of common and 36,000 square meters of commercial areas of the center – in total almost a half of the area of the building – will be renovated by November, 2019."

Akropolis Group, UAB manages companies developing real estate projects and provision of lease services in Lithuania, Latvia, Estonia, and Bulgaria. Akropolis Group, UAB is part of the Vilniaus Prekyba holding company, which controls retail and pharmacy chains and companies developing real estate projects and providing lease services in the Baltic States, Sweden, Poland, and Bulgaria.

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COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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