After a bit of a slowdown following the start of the war in Ukraine, the Latvian markets bounced back, with the financial and energy sector being particularly active, according to COBALT Managing Partner Dace Silava-Tomsone.
“The onset of the war in Ukraine has introduced a brief hiccup in the transactional markets, with some deals being suspended or canceled altogether,” Silava-Tomsone begins. “Currently, however, the markets have bounced back, and there is quite a lot of investments taking place in various industries – finance and energy in particular.”When it comes to finance, Silava-Tomsone reports that transactional efforts are “dominated by fintech company acquisitions and various startups changing hands.” Additionally, there is a surge in AML work, she reports, mostly when it comes to “companies checking their counterparties for compliance with respect to the sanctions regime” and “work on more comprehensive compliance programs for larger companies.” The former also supplies work to commercial and dispute resolution lawyers when the agreements have to be terminated. She indicates that the markets have reached a point where “AML is an integral part of all work, especially in light of the sanctions.”
