LAWIN Advises BAB SNORAS on Sale of Shares in Lietuvos Rytas Media Group
October, 2013 - Estonia, Estonia
LAWIN has advised the bankrupt bank Snoras on the sale of its subsidiary UAB Snoras Media, the owner of 34% of the shares in the Lietuvos Rytas media group. UAB BIG Group, a subsidiary of UAB Fragrances International, acted as the buyer. UAB BIG Group paid LTL 10 million for 100% of the shares in Snoras Media. Additionally, Snoras Media’s debt of LTL 20 million to Snoras was capitalised.
Lietuvos Rytas, one of the largest media groups in Lithuania, includes the daily Lietuvos Rytas, the weekly magazine TV Antena, the online news provider www.lrytas.lt, Lietuvos Ryto TV, and Lietuvos Ryto Printing House.
Fragrances International is one of the leading distributors of cosmetics and fragrances in the Baltics.
The LAWIN transaction team was led by partner Zilvinas Zinkevicius and senior associate Sandra Prichozaj.
