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Consulting an owner in the renegotiation of a BMW dealership rental agreement

2019.01.30

We have consulted our client UAB Ozo 10A (a Lithuanian investment firm, controlled by Norwegian investors) in renegotiating an agreement with UAB Krasta Auto Vilnius (the official BMW dealer in Lithuania) regarding the rent of premises (total area ~11,000 sq. m.) located on Ozo str. The main reason for the renegotiation was the transfer of Krasta Auto’s and BMW’s marketing from the Modus Group to the Inchcape Group (the global leader in the premium and luxury car dealership and retail sectors). We helped the client to implement and formalise the division of rented premises between Krasta Auto Vilnius and Modus Group’s UAB Unimodus, which will remain a tenant of a part of the premises together with Krasta Auto Vilnius. The transaction encompassed a renegotiation of new rent terms with Krasta Auto, new rent arrangements with UAB Unimodus, and ensuring the client’s interests with regards to the administration and management of the new property. It’s also important to note that our team took part in negotiations with the bank (which financed the above mentioned acquisition of premises) in order to implement amendments to the rent agreements and amend the respective credit agreement with the bank.

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