Sorainen has advised Blue Ocean Invest on the sale of 100% shares in Interneto Partneris – the largest online flight ticket seller in the Baltic States – to the Otravo Group. The buyers were advised by Cobalt.
According to Sorainen, "Interneto Partneris operates the online platforms 'greitai.lt' in Lithuania, 'flysiesta.lv' in Latvia, 'bookinghouse.ee' in Estonia, 'flysiesta.pl' in Poland, 'flysiesta.ru' in Russia, 'viagid.com.ua' in Ukraine, and 'Flysiesta.com' in other countries."
According to Cobalt, "Otravo is the market leader in air travel sales in the Benelux and Scandinavia. Among the group’s brands are Vliegtickets.nl, Vliegtickets.be, WTC.nl, Schipholtickets.nl, Flygstolen, and Tripmonster. This transaction will enable Otravo to expand its activities in the Baltics."
Interneto Partneris General Manager Alvydas Vitkauskas commented: “We are excited to become a part of Otravo. The know-how and synergy of both companies will enable us to take our business in Europe to the next level. It will allow us to increase market share in the countries we are focusing on the most – Lithuania, Latvia, Estonia and other European countries. I am sure that we will become more competitive and will be able to offer our customers even better airplane ticket prices.”
The Sorainen team consisted of Counsel Mantas Petkevicius and Senior Associate Karina Andriukaitiene.
The Cobalt team advising the Otravo Group was led by Partner Elijus Burgis, assisted by Associate Evaldas Petraitis.