Orpea announces the sale of its entire scope of activities in Latvia
Orpea has announced that it has signed an agreement with Adoro SIA for the sale of a retirement home in Riga, its entire scope of activities in Latvia.
The completion of this transaction remains subject to usual conditions precedent and is expected to take place during the third quarter of 2023.
Orpea is a major operator of care homes and clinics across Europe, which provides nursing homes, service residences, aftercare and rehabilitation, psychiatric care, medicalized retirement homes, and home services.
Adoro SIA is a Baltic actor present in the elderly care sector in Latvia. Their experience of the market and their reputation make it possible to envisage the takeover of its Latvian activities under good conditions, particularly for the residents and employees of the retirement home.
The client Orpea was advised by Ellex in Latvia. The team included Sarmis Spilbergs, partner at Ellex in Latvia, associates Gabriela Fomina and Kristers Toms Losans and others.