AS Tallinna Kaubamaja, leading OMX Exchange listed retail group, completed its acquisition of AS ABC King on 30 June 2008 in accordance with the purchase and sale agreement concluded on 13 May 2008. As disclosed in the stock exchange announcement, the base purchase price of the transaction is 159.9 million EEK (10.22 million EUR).

With this transaction, Tallinna Kaubamaja acquired 14 ABC King stores in Estonia and Latvia whose total turnover in 2007 was approximately 220 million EEK (14.4 million EUR) and net profit 20 million EEK (1.3 million EUR).

The M&A team of our firm advised the purchaser – Tallinna Kaubamaja at all stages of the acquisition from preliminary negotiations, due diligence, negotiations of main agreements up to the merger notice in the Competition Board and closing of the transaction.

Tallinna Kaubamaja has entered into an agreement for the acquisition of AS ABC King