MG Valda has acquired land at former factory Skaiteks from Panevėžio keliai and closed one of the biggest real estate development transactions in Lithuania so far this year. With this transaction Naujasis Užupis, a subsidiary company of Panevėžio keliai, which was established for the Paupys project, transferred its shares to MG Valda.

Paupys is the first development stage of the Architekturos parkas of Vilnius city, which aims to transfer industrial companies from Vilnius old town and to make this part of the city an urban living area with well-organised infrastructure for engineering and transportation, jobs, cultural life and an active community.

During the process SORAINEN Lithuania advised MG Valda on transaction related questions, conducted legal due diligence of the company Naujasis Užupis and development opportunities for Skaiteks’ former territory, drafted transaction documentation and provided other consultations. The SORAINEN team was led by partner Aušra Mudėnaitė and senior associate Simonas Skukauskas.