COBALT advised SAMSUNG C&T on investment in Forta PRO

COBALT advised SAMSUNG C&T regarding its investment and setting up business collaboration with a leading Latvian industrial manufacturer Forta PRO.

This collaboration marks an important step to combine and merge two companies’ industrial know-how and experience, that can turnaround conventional construction market practices in Latvia and beyond and become a leading global modular construction company.

The companies are planning to launch and operate modular construction factories worldwide, which will increase presence of the highly value-added Latvian knowledge-based production in the global construction markets.

The official signing ceremony was attended by Minister of Economics of Latvia Ilze Indriksone and Director of Investment and Development Agency of Latvia Kaspars Rožkalns, both expressing high appreciation of  the signed collaboration agreement between the two companies, resulting in business expansion, jobs’ creation in Latvia, exchange of technological know-how and knowledge, as well as automation of construction processes as well as an important signal to the international investor community.

Within the investment transaction COBALT team advising Samsung C&T was led by Partner Indriķis Liepa and Senior Associate Diāna Zepa, and included Senior Associates Inga Tenisa, Ivo Maskalāns, Līga Fjodorova, Maija Tipaine, Juta Meimere and Associate Agnese Gerharde.

Samsung C&T Engineering & Construction Group is engaged in the construction of housing, offices, industrial buildings, infrastructure and power plants with a total turnover of USD 10 billion (in 2021) and employs 5 500 people.

Forta PRO is a Latvia-based modular construction company, mainly focused on export markets, specialising in the construction of large-scale modular high-rise buildings, with production facilities in Jelgava and Ventspils and 400 employees.