Sorainen advised Greentech, a leading plastic recycler in Europe, on establishing a cross-border joint venture for recycling PET (Polyethylene Terepthalate) packaging waste and in acquiring real estate as a site for planned operations.

Greentech is part of the Green Group, the largest integrated recycling park in South-Eastern Europe, which has brought together six companies specializing in the management, collecting, recycling and recovery of various types of waste. Greentech operates recycling plants in Romania, Macedonia, Serbia and Lithuania.

The plant to be established under the joint venture has estimated capacity to recycle at least five times more waste than current market players. The plan is for the group to reach capacity that cannot be matched in the Baltics, Ukraine, Belarus or Poland.

Sorainen advised Greentech on all aspects of the transaction, including preparing and negotiating the terms of the joint venture and real estate transaction plus environmental law issues.

The client was advised by partner Sergej Butov with senior associates Asta Augutytė-Rapkevičienė and Jonas Kiauleikis.