COBALT represented UAB “Linas Agro” Konsultacijos, a company managed by AB Linas Agro Group, in the sale of shares of the Zemvalda Land Management Holdings group of companies operating in Latvia to INVL Sustainable Timberland and Farmland Fund II. The transferred companies indirectly own more than 2,000 hectares of agricultural land, which will be leased by Linas Agro Group companies under a 25-year lease. The amount of the transaction exceeds EUR 13.6 million.
AB Linas Agro Group together with the managed companies jointly form the group of companies established in 1991, which operates in Lithuania, Latvia, Estonia and Ukraine. The Group companies produce, prepare and sell agricultural raw materials and food products, supply goods and services to farmers - the Group is one of the largest Lithuanian and Latvian grain exporters, a large milk producer, the largest poultry producer in Latvia and one of the leaders in supplying goods to farmers in Lithuania.
Established in the second half of 2020, INVL Sustainable Timberland and Farmland Fund II is administered by Apex Group, one of the biggest providers of fund services in Europe. The fund will invest in sustainably managed forests and agricultural land in the Baltic Sea region and Central and Eastern Europe. The concluded transaction is the fund's first investment.
COBALT prepared the transaction documents, represented the client in the negotiations, and provided consultations on all issues related to the transaction. The project team consisted of the Managing partner Dr Irmantas Norkus, managing associate Aušrys Šliavas and senior associate Inga Mažvilaitė.