TARK GRUNTE SUTKIENE counselled UAB Cgates in acquiring 100 per cent stake in UAB Mikrovisatos TV, a major provider of pay TV services in Lithuania. In 2010, the consolidated turnover of UAB Cgates amounted to LTL 30 million and UAB Mikrovisatos TV achieved the turnover of LTL 20 million. After the acquisition, UAB Cgates will become the second largest provider of pay TV and fixed broadband Internet services in Lithuania after TEO and will have 180 thousand subscribers.
The lawyers of the law firm TARK GRUNTE SUTKIENE performed legal due diligence, drafted and harmonised transaction documents, drafted a notification of concentration, coordinated the signing process and will represent the client at closing. Partner Marius Matonis and senior associate Aurimas Pauliukevičius ran the counselling process.