A company established in the Republic of Cyprus, Apex Holding Limited, in which N. Numavičius’ controlled entity Agile Finance, V. Numavičius’ indirectly managed Gemini grupė, M. Bagdonavičius’ controlled Invefina, and A. Beleška’s managed Appex Alliance invest, will indirectly manage Romanian companies that will be developing a complex of four hotels in Bucharest.
The hotel complex will be managed on a franchise contract basis jointly with the largest international hotel chains, Marriot and Hilton Worldwide. The value of the investment project is EUR 85 million. It is expected to complete the construction of the hotels until 2022.
TGS Baltic Associate Partner Aurimas Pauliukevičius and Head of Corporate and Commercial (Lithuania), Partner Vidmantas Drizga advised investors on the conclusion of investment and shareholders’ agreements. Of Counsel Lauras Butkevičius represented investors in obtaining concentration clearances in Lithuania, Latvia, and Poland.
