COBALT advised IBM on reorganization for separation of Kyndryl regarding Baltic jurisdictions
COBALT advised IBM on reorganization for separation of Kyndryl regarding Baltic jurisdictions
Corporate Restructuring
2021 — 11 — 15

International Business Machines Corporation (IBM) has completed the global separation and reorganization of its managed infrastructure services business to Kyndryl across more than 65 jurisdictions worldwide including the Baltic States.

IBM will retain 19.9% of the shares of Kyndryl common stock, with the intention of exchanging those shares for IBM debt during the 12-month period following the distribution, subject to market considerations.

COBALT acted as local legal counsel to IBM in Estonia, Latvia and Lithuania advising on corporate, contractual, tax and other legal aspects of the reorganization and the establishing of Kyndryl companies in the Baltics.

The pan-Baltic team led by Partner Guntars Zīle and Senior Associate Diāna Zepa included the following members:

More information about the completion of the deal is here.