SORAINEN Latvia advised Plesko Real Estate, a subsidiary of the Swedish food retailing group ICA, operating in the Baltics through the Rimi brand, on the sale of 12 Supernetto stores with a gross leasable area (GLA) of 9,913 m2, located in different cities across Latvia. All stores remain in use by Rimi, as Rimi has entered into a long-term commercial lease contract with the buyer.
The transaction was performed by separating the stores into a newly-established company and the subsequent sale of shares to Colonna’s investors, and leaseback to Rimi. SORAINEN provided full legal support to the client on all M&A aspects, including assistance with corporate matters, real estate matters, and drafting and negotiating transaction documents.
