DAVA Agravis Machinery Holding acquires minority interest in Konekesko Lietuva

13.02.2017

Sorainen advised Danish Agro group company DAVA Agravis Machinery Holding on its acquisition of 45% of the share capital in Konekesko Lietuva from Finnish company Konekesko. DAVA Agravis Machinery Holding also acquired a minority interest in Konekesko subsidiaries in Latvia and Estonia. The total disclosed value of the transaction in all three Baltic States is approx. EUR 21 million.

In the same context, an agreement was made on options to expand DAVA Agravis' ownership to include the whole share capital of the Baltic machinery trade companies and Danish Agro group's ownership to include Konekesko's agricultural machinery business in Finland. Completion of the share and business transactions by using the call options or put options agreed in connection with the transaction is subject to obtaining permissions from the competition authorities and fulfilment of the other terms and conditions of the transactions.

Danish company DAVA Agravis distributes and trades agricultural products and technology. Konekesko Lietuva engages in the import, sales and servicing of agricultural, forest and construction machinery. Key brands represented by the company include Claas tractors, combines and grassland machinery, Ponsse forest machinery, Kobelco excavators and Kubota mini excavators.

Sorainen assisted the client in all stages of the transaction, including legal due diligence, plus support on local aspects of transaction documentation and merger clearance advice.

The Sorainen team was led by partner Algirdas Pekšys and senior associate Jonas Kiauleikis and included senior associate Vaiva Mašidlauskienė, associates Lina Stroputė and Lukas Vaišvila. Partner Daivis Švirinas and senior associate Monika Mališauskaitė advised the client on merger clearance aspects.  

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