COBALT advises AB Linas Agro Group on the acquisition of four Latvian companies
COBALT advises AB Linas Agro Group on the acquisition of four Latvian companies
Private M&A
2013 — 07 — 11

COBALT is providing legal advice to AB Linas Agro Group in connection with its acquisition of a 87% shareholding in the Latvian company AS Putnu fabrika Kekava, 100% interest in the Latvian company SIA Lielzeltini, 100% interest in the Latvian company SIA Cerova, and 100% interest in the Latvian company SIA Broileks. The closing is anticipated to occur by the end of this year and is subject to merger clearance from the Competition Council of the Republic of Latvia. 

AS Putnu fabrika Kekava, SIA Lielzeltini, SIA Cerova and SIA Broileks are companies active in the poultry production sector. Their core business activities include the production of poultry meat and broiler breeding. Plans are to acquire all the companies simultaneously. AB Linas Agro Group expects that future revenue generated by the target companies will reach approx. EUR 70 million.

AB Linas Agro Group is an agricultural holding company. Companies comprising the group engage in the production and sale of grains, oilseeds, feed raw materials, and raw materials and products for agricultural production. AB Linas Agro Group operates companies in Lithuania, Latvia, Estonia, and Denmark. Its consolidated revenue during the nine-month period in 2012–2013 financial year was EUR 480,190 million, with EBITDA amounting to EUR 33.6 million. As of 17 February 2010, AB Linas Agro Group shares are traded on the Main List of OMX Vilnius Stock Exchange. 

COBALT has advised on all aspects of the transactions from the perspective of Lithuanian and Latvian law, structured the transactions, drafted transaction documents, carried out detailed due diligence of the companies, assisted in negotiations, drafted a notification of concentration and other transaction-related documents. The project is being implemented in close cooperation between COBALT offices in Lithuania and Latvia.

COBALT team is led by Vilnius-based Managing Partner Dr Irmantas Norkus and Managing Associate Maksimas Saveljevas.