The firm’s M&A team led by associate partner Kadri Kallas advised Citypark Eesti, one of the largest parking services providers in Estonia, on selling its shares to a Stova which belongs to the Lithuanian headquartered Modus Group.
The advice included support at the due diligence phase, including tax advice, as well as at drafting the transaction documents, negotiating and closing the transaction.
Citypark Eesti was established in 2008, the privately held company owns 6500 parking spaces in Tallinn and is one of the market leaders in providing long and short term parking services in Estonia, including construction of parking areas, devising traffic solutions and maintenance thereof.
Stova is providing parking services under the trademark Unipark in Lithuania, Latvia and Belarus. The company also plans to expand to Poland. In addition to providing parking services, the parent company of Stova, Modus Group, is active in car dealership, renewable energy, service business and real estate.
The financial advisor to Citypark was Nordic CF Advisory.
On the same topic (in Estonian)
Postimees: Citypark was sold to the Lithuanians
Lawyers
Kadri Kallas
Sander Kärson
Kärt Raud
Helmut Pikmets
Andres Kalm
