According to the 2014 database provided by one of the most influential and reputable mergers and acquisitions (M&A) market research directory Mergermarket, the law offices COBALT was the leading legal adviser amongst regional law firms by the number of M&A transactions advised in Lithuania.
Mergermarket league tables recording the most complex and unique transactions globally reveal that COBALT advised in 10 large-scale local transactions the value of which exceeded EUR 5 million (per single transaction). The total value of advised deals exceeded EUR 352 million.
“Over the past five years our lawyers advised in the majority of the most complex deals taking place in Lithuania and the Baltic States. In 2014 our colleagues from Latvia office represented the sellers of Citadele Bank, in Lithuania we assisted in the acquisition of Finasta bank along with its Lithuanian and Latvian subsidiaries. Added to this, we represented potential investors in AB Lietuvos draudimas and Alita group of companies. We are delighted that we have earned the trust of strategic investors, private and venture capital funds. We make our best efforts to deliver premier legal services and risk management decisions to our clients,” said Irmantas Norkus, Managing Partner at COBALT Lithuania office.
Last year COBALT lawyers worked on the largest and most significant transactions in Lithuania. Our team of lawyers advised UAB EPSO-G on EUR 277m investment in the energy sector, the acquisition of the stakes in Amber Grid AB (Lithuanian natural gas transmission system operator) from German energy group E.ON Ruhrgas International GmbH and Russian gas giant Gazprom OAO and minority shareholders. We also advised on the sale of Cgates UAB (the second largest cable TV operator and internet service provider in Lithuania) shares to East Capital, a Sweden-based investment fund.
An example of another important transaction advised by COBALT is the acquisition of a majority stake in Ecoservice UAB, a leading waste management company in Lithuania, from City Service AB. In this transaction COBALT team worked for the bidder Baltcap, the leading private equity and venture capital investor in the Baltic States. Other remarkable transactions closed in 2014 with the assistance of COBALT team included the acquisition of shares in Amberwind UAB, Kruzas Nordic Cosmetic Distribution UAB, and Heliopolis UAB.
In 2015, COBALT expects new deals primarily in the local telecommunications, finance, energy and food processing sectors (the long-planned disposal of Bitė, further consolidation on the cable TV and internet market, disposal of PZU’s local business and of part of Alita’s business, etc.). The law firm is currently working on undisclosed deals in the manufacturing sector. COBALT is also a leader in venture capital deals (with venture capital becoming increasingly popular as an alternative source of financing, the number of deals closed by venture capital funds in 2015 is expected to increase as compared to 2014).
COBALT is a leading pan-Baltic legal practice with offices in Lithuania, Latvia, Estonia, and Belarus. Our team of 120 attorneys renders comprehensive legal services to national, regional and international legal entities, including multinational enterprises, governments, international banks and financial institutions. COBALT offices and attorneys are consistently ranked in the top tier by the most prestigious law firm directories: Chambers Global, Chambers Europe, the Legal500, IFLR 1000, and etc.
Mergermarket is an independent Mergers and Acquisitions (M&A) intelligence service with an unrivalled network of dedicated M&A journalists based in 62 locations across the Americas, Europe, Asia-Pacific, the Middle-East and Africa. Unlike any other service of its kind, Mergermarket specializes in providing forward-looking origination and deal flow opportunities integrated with a comprehensive deals database – resulting in real revenues for clients. Visit www.mergermarket.com.