TRINITI attorneys in Estonia and Lithuania advised a management buyout transaction, whereby General Manager of Columbus in Baltics Ivo Suursoo and CEO of Columbus Lietuva Dovydas Zinkevicius acquired shares in Columbus Eesti AS and Columbus Lietuva UAB and the companies separated from Columbus A/S group listed on Nasdaq Copehagen stock exchange in Denmark. The assignment included preparation and negotiation of transaction documents and advising the whole transaction. Columbus is a leading digital innovation company in the Baltics with 170 employees and turnover in the region of 10,6 million euros.
Eddy Travels, a travel tech startup founded by Lithuanians and based in Toronto, has raised €1.1 million in a pre-seed funding round, led by Baltic VC Practica Capital with participation from Lithuanian firm Open Circle Capital, Techstars Toronto, and angel investors.
Founded in 2018, the company has developed an AI travel assistant, which communicates with users via chat apps such as Facebook Messenger, WhatsApp, and Telegram. Pulling from Skyscanner, the digital assistant can search flights, accommodation, restaurants, and travel insurance.
For now the funding will go to immediate product development work that is adapting the app for travelers during the COVID-19 pandemic. Once the disease is contained and travel restrictions lifted, the startup will shift focus and expand into new markets.
Groa Real Estate Fund I, a fund managed by Groa Capital, completed an acquisition of a 3.800 sq.m. shopping centre Rimi Hypermarket in Vilnius on April 1, 2020. It’s the sixth investment of the Groa Real Estate Fund I already since the start of the Fund’s investment period in July 2018. Portfolio of Groa Real Estate Fund I amounts to a total gross value of over 27 m EUR after the latest acquisition. Groa Capital is a licensed fund manager supervised by Lietuvos bankas, a central bank of Lithuania.
TRINITI team provides legal assistance to ELEKTRUM LIETUVA, a modern customer – orientated power company, on various legal issues related to the supply of electricity. TRINITI lawyers assisted the client in drafting and correcting the standard agreements on electricity supply to be used in the client’s activities, agreements on solar plants purchase and installation, provided legal advice on Lithuanian legal acts on electricity supply, construction, protection of the consumers and other services.
TRINITI has advised the Lithuanian Road Administration under the Ministry of Transport and Communications on the reorganization of state-owned enterprises carrying out maintenance of roads with strategic importance for Lithuania. During the process which took less than a half-year, 10 state-owned enterprises were successfully integrated in the State Enterprise “Kelių priežiūra”. The reorganization was carried out with the aim to optimize and reduce the costs of management of state enterprises maintaining the roads of state importance and to form an efficient centralized model of maintenance of roads of state importance.
During the large-scale reorganization process the experienced TRINITI lawyers, led by Associate Partner Giedrė Čiuladienė, prepared the necessary documents and advised the Lithuanian Road Administration under the Ministry of Transport and Communications on all matters of reorganization that have arisen.