COBALT advised Naspers on the sale of its Estonian and Lithuanian classifieds business to Eesti Meedia

COBALT advised MIH Allegro B.V., a subsidiary of Naspers Ltd, in the sale of its classifieds business in Estonia and Lithuania to AS Eesti Meedia, the leading media group in the Baltics.

Naspers is operating on a global scale providing different internet services – ecommerce, media and television and it is listed on the Johannesburg Stock Exchange. Naspers runs through its subsidiaries Allegro Baltics and Diginet, among others, the websites kv.ee and osta.ee in Estonia and skelbiu.lt, aruodas.lt, cvbankas.lt and autogidas.lt in Lithuania. Eesti Meedia group combines print and internet media channels, newspapers, tv-channels, radio channels and several websites including soov.ee, plius.lt and autoplius.lt.

COBALT advised on the entire sales process from drafting the term sheet up to negotiating the transactions documents. COBALT team consisited of partner Martin Simovart and associate Karl Kull from the transaction side and associate partner Elo Tamm from competition law side.