Linstow Baltic Modernizes Riga Parking with Snabb Partnership
Deal News | Feb 13, 2025 | CEE Legal Matters
Linstow Baltic, a real estate developer and manager, has entered into an agreement with Snabb to modernize parking services at various locations in central Riga, including the Origo shopping center and two Radisson hotels. The agreement, advised by law firm Cobalt, involves the deployment of license plate recognition and contactless payment systems in collaboration with Mobilly. Snabb, already operating in Estonia’s Ulemiste center, aims to enhance customer experience through these updated parking technologies.
Sectors
- Real Estate
- Technology
- Legal Services
Geography
- Latvia – The focus of the parking modernization is in central Riga, Latvia.
- Estonia – Snabb is already operating at Ulemiste, the largest shopping center in Estonia managed by Linstow Baltic.
Industry
- Real Estate – Linstow Baltic is involved as a real estate developer and manager in this parking services arrangement.
- Technology – The implementation of license plate recognition and contactless payment systems by Snabb reflects technological advancements in parking management.
- Legal Services – Cobalt, as the legal adviser, plays a key role in facilitating the agreement between Linstow Baltic and Snabb.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Linstow Baltic | Target Company | Company | A real estate developer and manager involved in the parking service agreement with Snabb. |
| Snabb | Parking Service Provider | Company | Responsible for implementing new parking technologies as part of the agreement with Linstow Baltic. |
| Cobalt | Legal Advisor | Company | The law firm that advised Linstow Baltic on its agreement with Snabb. |
| Toms Sulmanis | Lead Lawyer | Person | Partner at Cobalt who led the legal team advising on the agreement. |
| Mobilly | Payment Systems Partner | Company | Collaborating with Snabb to provide contactless payment systems. |