Sorainen has advised Decathlon on its agreement with the Galio Group for the latter to build and lease new stores for it in the Lithuanian cities of Kaunas and Klaipeda. Wint advised the Galio Group on the transaction in Klaipeda.
The store in Klaipeda will be constructed using a EUR 3 million investment by the Galio Group. The store is planned to cover 2,800 square meters and to be completed in 2022.
The Kaunas store will be constructed using a EUR 5 million investment by Baltic Shopping Centers, the operator of the Mega shopping center. The store is scheduled is to be opened at the beginning of 2023, and will cover 3,600 square meters.
Decathlon is a French retail chain of sports goods, which opened its first store in Lithuania in 2018 with Sorainen’s help (as reported by CEE Legal Matters on October 24, 2017). In total, the chain operates more than 1,500 stores in Europe, North and South America, Africa, and Asia.
Sorainen’s team consisted of Senior Associates Karolis Kunigelis and Simona Stanciukaite.
Wint’s team consisted of Partner Olga Petroseviciene and Of Counsel Donatas Zdanavicius.
Sorainen could not disclose any further information about the deal.