Special closed-end real estate investment company AB Tewox and Lidl Lietuva have entered into an acquisition-and-lease-back agreement for two newly built Lidl stores in Lithuania: a 1,979-square-meter store in Jurbarkas, and a 2,312-square-meter store in Panevezys.
Tewox’s acquisition was financed with a EUR 6.7 million loan from Luminor Bank.
Lidl will continue to lease and operate the stores, and the proceeds from the transaction will be allocated toward further expansion of the retail network.
AB Tewox was advised on the deal by the TGS Baltic law firm, and Lidl Lietuva was represented by the Sorainen law firm.
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