Represented UAB Rivona in the acquisition of GO9 shopping centre in Vilnius

Rivona, a real estate company controlled by businessman Dainius Dundulis, acquired 100% of the shares in Gedimino 9 – the entity owning the GO9 shopping centre on Gedimino Avenue in central Vilnius – from Lords LB Baltic Fund IV, a fund managed by Lords LB Asset Management.

With a transaction value reaching several tens of millions of euros, this was one of the more significant commercial real estate M&A deals in Lithuania in the period.

The transaction involved a fully tenanted retail asset of 17,400 sq m in a prime city-centre location, acquired through a share purchase structure.

The legal work demanded a careful balance of M&A discipline and real estate expertise: comprehensive due diligence across the target’s corporate, property, tenancy, and regulatory layers; structuring and negotiating the share purchase agreement and the full suite of transaction documents; managing representations, warranties, and indemnity exposure; and coordinating conditions precedent through to a clean closing.

Alongside the transactional work, a merger control filing was required before the Lithuanian Competition Council, which granted its approval without conditions – an outcome that kept the deal timeline intact.

Our team advised Rivona from the letter of intent stage through signing and closing, a process spanning approximately eight months. We led negotiations with the seller and its advisers, managed the regulatory process, and structured the closing mechanics, providing end-to-end legal coverage across the full transaction lifecycle.

The deal strengthened Rivona’s portfolio with a high-quality, income-generating asset in a strategically irreplaceable location. This matter reflects our firm’s integrated capability in real estate M&A, combining transactional lawyers’ deal execution skills, due diligence rigour, and regulatory navigation to deliver complex acquisitions from first term sheet to final closing.