We advised funds managed by the Polish private debt investment firm CVI Dom Maklerski on a secured bond issue. Investment group Žabolis Partners used the proceeds from this issue to acquire a majority stake in the bus company Tolimojo Keleivinio Transporto Kompanija (TOKS).

TOKS is one of the largest companies in the passenger transport industry in Lithuania, established in 1996. The acquisition aims to continue investments in climate change initiatives, further reducing negative climate impacts. The acquisition was completed at the end of 2024.

“Passenger transportation is an industry that has significant potential to deliver value and will require significant investments, including for decarbonization. We are happy to support Zabolis Partners in teaming up with TOKS and are looking forward to realisation of planned growth initiatives,” says Radoslav Tausinger, partner at CVI.

CVI is an independent asset manager that focuses on investments in small and medium enterprises and real estate projects in Poland and other countries in Central and Eastern Europe. Since its inception in 2012, CVI has completed over 750 private debt investments, having invested almost EUR 3 billion in private debt in Poland and nine other countries in the region.

Our team and services

Our team, consisting of partner Augustas Klezys and associate Dominykas Kulakas, advised the client on all Lithuanian-law legal related to the transaction.