CEE Attorneys has advised fabric manufacturer Agne Chomiciene and Malte Holding Aps on the division of UAB Baltijos Tekstile into two parts, and the consequent EUR 4 million sale of the remainder of the company to long-term business partner Gabriel A/S. KPMG Denmark represented Gabriel A/S in the deal.
UAB Baltijos Tekstile (BTC), a textile company established in 1936 in Lithuania, was divided into Sesupes Turtas, which remains owned by Agne Chomiciene and Malte Holding Aps, and BTC, which was then sold to Gabriel.
Established in 1851 in Denmark, Gabriel Holding develops, manufactures, and sells furniture fabrics of wool and micro fibers, and related textile products. The company's product line includes fabrics for upholstered furniture, as well as for office, theater, hospital, and hotel furniture, and furnishing fabrics for trains, ships, cars, and buses.
Gabriel and BTC have worked together since 1999.
The CEE Attorneys team consisted of Partner Daina Senapediene, Senior Associate Aleksandr Masaliov, Associate Agne Vaitkeviciute and Agne Jakstaite, and Junior Associate Agne Jakstaite.