Baltic Champs UAB agreed to acquire Agrowill Group AB (NSEL:AVG1L) in a reverse merger transaction on February 14, 2014. Agrowill Group AB will issue 88.444014 million shares as purchase consideration. In a related deal, Agrowill Group AB agreed to acquire eTime Invest from Vretola Holdings Limited for LTL 12.3 million.

The deal is subject to Agrowill Group AB shareholder approval in the extraordinary general meeting to be held on March 13, 2014, third party approvals and antitrust authority approval and the Bank of Lithuania approving the prospectus for listing the new share issue of the Company on the NASDAQ OMX Vilnius stock exchange and the Warsaw Stock Exchange, etc. As of March 13, 2014, Agrowill Group's shareholders have approved the transaction and a new share issue for the consideration. The transaction has received regulatory clearance and is expected to close in be closed in April 2014 or May 2014.

As of March 31, 2014, Bank of Lithuania approved the prospectus for listing of new shares. As of April 1, 2014, the transaction was approved by the Competition Council. Tark Grunte Sutkiene acted as legal advisor for Baltic Champs UAB.