Acquisition of Puntukas shares

Motieka & Audzevičius has advised AB ŽIA valda regarding the acquisition of a 61.8% shareholding in AB Puntukas. AB Puntukas manufactures various equipment for disabled people, in addition to owning a real estate complex.

The M&A team advised on all stages of the purchase of shareholding, and participated in the negotiation and drafting process of the transaction documentation, including obtaining competition clearance for the transaction from the Competition Council of the Republic of Lithuania.

The transaction allowed the client to significantly expand its real estate portfolio and opened up promising development opportunities in the future. This transaction also helped to end a long-standing dispute between the Lithuanian Association of Disabled People and the Public Prosecutor over the Association’s ownership rights to the shareholding in AB Puntukas. Part of the payment received from our client for the shareholding was used to pay compensation and end the aforementioned dispute in a settlement that was approved by the Court of Appeal of the Republic of Lithuania. Thus, the deal is significant for the real estate market in Vilnius and served as a necessary support for disabled people in Lithuania to relocate their activities from the centre of Vilnius to a more convenient location for the manufacturing facilities.