COBALT has successfully secured two distinct Deal of the Year accolades at the annual CEE Deals of the Year Awards 2025.  This annual celebration recognizes the pivotal role of lawyers and law firms in driving significant transactions across Central and Eastern Europe.

The prestigious awards were accepted on behalf of the law offices by Specialist Counsel Sandra Sidoraitė at the annual CEE Deals of the Year Awards 2025 ceremony in Bucharest.

Pan-Baltic Tower Infrastructure Venture  

The pan-Baltic tower infrastructure joint venture between Global Communications Infrastructure LLC (GCI), backed by Manulife Investment Management, and Tele2 was recognized as the Deal of the Year in Estonia. This historic transaction resulted in the creation of the first pan-Baltic mobile tower company operating across Estonia, Latvia, and Lithuania. The venture successfully brings together approximately 2,700 tower and rooftop sites across the region, heavily impacting regional connectivity and infrastructure scale.

The transaction involved extensive cross-border legal advice from all three COBALT offices, working in close cooperation with the international law firm Freshfields Bruckhaus Deringer LLP. The pan-Baltic COBALT team was led by Specialist Counsel Sandra Sidoraitė and included Managing Partners Dr Irmantas Norkus and Dace Silava-Tomsone, Partners Rokas Daugėla, Rasa Zaščiurinskaitė, Indriķis Liepa, Martin Simovart, and Jesse Kivisaari, alongside 26 additional team members across the region.

Latvenergo’s Record-Breaking Issuance 

Latvenergo’s inaugural EUR 400 million 5-year EU Green Bond issuance was recognised as the Deal of the Year in Latvia. The transaction marks an extraordinary milestone for Latvia’s capital markets and the wider sustainable finance sector. Capturing significant investor demand, it achieved several notable market firsts:

  • First-ever benchmark-size EU Green Bond originating from the CEEMEA region,
  • First international Green Bond issued by a Latvian corporate issuer,
  • Largest corporate bond ever issued by a Latvian company.

The issuance highlights Latvenergo’s strategic shift towards sustainable financing, successfully supporting both the company’s corporate vision and Latvia’s broader climate and energy objectives. Legal assistance on this transaction was provided by COBALT’s Banking and Finance team, led by Partner Edgars Lodziņš, and supported by Partner Sandija Novicka and Senior Associate Krišjānis Bušs.

Recognizing Regional Cross-Border Excellence and Legal Innovation 

These accolades highlight the strength of COBALT’s cross-border collaboration and strategic vision across the Baltic region. COBALT extends its deep gratitude to its clients for their continued trust, and to all colleagues across our regional offices for their unwavering commitment to executing these sophisticated landmark projects.

The CEE Deals of the Year Awards, established by CEE Legal Matters, are among the legal industry’s leading peer-reviewed recognitions, celebrating the most complex transactions, financings, and IPOs that fuel regional growth throughout Central and Eastern Europe.

More information about the awards can be found here.