We advised the shareholders of AMMUNITY, a Latvian small-calibre ammunition manufacturer, in connection with the agreement to sell 100% of the company’s shares to Scandinavian Astor Group AB, a Swedish defence and security company that will become a strategic investor in AMMUNITY. This acquisition marks an important step in the growth of Latvia’s defence industry and strengthens regional cooperation in the fields of security and defence.
About AMMUNITY
AMMUNITY is Latvia’s only manufacturer of military small arms ammunition which has been successfully operating in the defence industry since 2014. The strategic partnership with Scandinavian Astor Group AB will enable the company to significantly increase its production capacity, enhance its technological capabilities, and expand its presence in international markets.
About transaction
As a result of the transaction, Scandinavian Astor Group AB will become the sole shareholder of AMMUNITY, and the company will continue to operate as a separate company under its current name. The transaction will be completed after all necessary permits and approvals from the competent authorities have been received.
Our team
The Sorainen team was led by the managing partner Eva Berlaus and senior associate Līva Aleksejeva. We advised the client on structuring the transaction, preparing the share purchase agreement, and represented the client in transaction negotiations. We will continue to represent the client until the transaction is completed. Partner Aija Lasmane advised the client on tax matters.
