OREANDA-NEWS. August 03, 2010. SORAINEN Lithuania advised Odense Steel Shipyard, part of the Maersk Group, on disposal of its two subsidiaries in Lithuania – Baltija Shipbuilding Yard and Baltic Engineering Centre. Baltija Shipbuilding Yard is the largest shipbuilding company in Lithuania and Baltic Engineering Centre is a unique company with deep orientation towards naval architecture and engineering, reported the press-centre of SORAINEN.

Both companies have in total over 1,300 employees and net sales of over EUR 48 million (in 2009). Although the sale price is not disclosed, this deal currently stands as the largest acquisition of a Lithuanian company in 2010.

SORAINEN advised the client throughout the sale process, including preparing the data room, structuring the deal, assisting in organising the sale, drafting and negotiating the transaction documentation.

The transaction was closed in July 2010. The client was advised by partner Laimonas Skibarka, senior associate Sergej Butov and associate Gytis Malinauskas.