Ellex advised Union Tank Eckstein in relation to the acquisition of the shares of Polish company Timex Card
Ellex advised Union Tank Eckstein (UTA) in relation to its acquisition of 51% of the shares of Polish company Timex Card SP. z o.o., the largest acquisition in the history of UTA.
The purchase of the shares enables UTA to expand its presence in Central and Eastern Europe and to efficiently promote the development of its products in this highly dynamic growth region. Poland, one of the leading international transport markets, and the Baltic states make up almost 35 percent of the European cabotage market (with regard to tons per kilometre).
UTA is one of the leading providers of fuel and service cards in Europe and its main shareholder is Edenred, a company listed on the Euronext Paris Stock Exchange.
The Ellex Raidla team in Estonia included Partner Risto Vahimets and Senior Associate Karl-Erich Trisberg. The Ellex Klavins team in Latvia was led by Partner Zinta Jansons. The Ellex Valiunas team in Lithuania included Senior Associate Lina Žolynė and Associate Nerijus Patlabys. UTA’s lead counsel of this project in Poland was Noerr LLP.