Glimstedt and Cobalt have advised Resolution Holdings on its acquisition of real estate brokerage company UAB Luminor Bustas from Luminor bank and on its investment in UAB Trecia Diena. The deal value was not disclosed.
The Resolution Holdings company group is present across the Baltic countries. It operates such companies as Newsec valuations, Newsec advisers LT, Newsec Finance LT, Newsec property management LT, Newsec project management, and NWC valuations.
The closing of the transaction is expected to occur in three to four months time. It will be followed by a name change of UAB Luminor Bustas to Resolution. Services will be provided under the Re&Solution brand.
Cobalt's team was led by Vilnius-based Partner Elijus Burgis and included Associate Julija Timoscenko.
Glimstedt's team consisted of Associate Partner Karolina Baronaite-Birmonte, Senior Associate and attorney-at-law Asta Macijauskiene, Associate Domantas Gudonis, and Junior Associate Simona Butkute.