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The Deal:  On March 20, 2017, CEE Legal Matters reported that Primus’s Tallinn office had advised BaltCap on its acquisition of 100% of Sanoma Baltics AS – the operator of the Estonian online classified sites auto24 and Kuldne Bors – from Sanoma Media Finland Oy. Sorainen advised Sanoma Media Finland, and Cobalt advised the management of Sanoma Baltics on the transaction, with Ellex Raidla advising AS LHV Varahaldus on its provision of financing for the transaction.

On July 18, 2017, an elite selection of Baltic legal experts from both the private practice and in-house worlds gathered at Cobalt’s Riga office for an in-depth discussion about the Baltic legal markets.

Primus has advised Madara Cosmetics, the Latvian manufacturer of natural and organic cosmetics, on its share offering to investors in Latvia and Estonia, with the subscription period lasting between October 16 and November 3. Following the completion of the offering, Madara intends to list its shares on the Nasdaq First North alternative market in Riga, with trading expected to commence in the first half of November.

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

Martin Simovart, Partner and Head of Global Relations at Cobalt in Estonia, is fairly confident about the state of affairs in his country at the moment. “For the first half of the year we saw what we actually predicted — about a five percent rise in GDP — and I hope it’s going to continue. The momentum is there, and I don’t see any indicators that it’s going to slow down. And the overall feeling is fairly positive.”

Ellex Raidla has advised recruitment platform Jobbatical on its USD 4 million series A round led by Japan-based Mistletoe Inc, with participation from Union Square Ventures (U.S.), AirTree Ventures (Australia), and Tera Ventures (Estonia). 

Sorainen has advised Nasdaq on the merger of the central securities depositories of Latvia, Lithuania, and Estonia into the Latvian entity Nasdaq CSD SE and its obtaining of a license to operate under the new EU regime introduced by Central Securities Depositories Regulation No. 909/2014. This allows Nasdaq CSD SE to continue to operate as the central securities depository in each of the Baltic States under a new, more robust legal framework. 

Leadell Pilv has expanded its partnership with promotions of Senior Associates Merilin Ojasaar and Tambet Laasik in the firm's Tallinn and Tartu offices, respectively. 

In The Corner Office, we invite Senior and Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. For this issue, we asked them to describe their least favorite part of their jobs. 

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