Fort has advised Tuleva Fondid AS on its successful application for authorization from Estonia's Financial Supervision Authority for its launch of mandatory pension funds, with simultaneous registration of two second-pillar pension funds.
On February 6th, 2017, CEELM reported that Ellex had advised AS Eesti Loto, the Estonian operator of the Bingo Loto, Keno Loto, Viking Loto, and Eurojackpot, on the recent completion of a procurement procedure in order to set up a new internal central information system designed to last for seven years. Heiki Kranich, the Chairman of the Management Board at AS Eesti Loto, agreed to explain how the procurement system was designed.
Cobalt has advised Santa Monica Networks Group on the sale of its Estonian and Finnish subsidiaries to the Elisa Corporation telecommunications company and its Latvian and Lithuanian subsidiaries to Livonia Partners. Bird & Bird advised the Elisa Corporation and Ellex Raidla advised Livonia Partners on the transaction, which is expected to be completed by May 1, 2017.
Working alongside global counsel Mannheimer Swartling, Sorainen has advised Providence Equity Partners on the acquisition of the Baltic businesses of Swedish media holdings Modern Times Group. Allen & Overy advised Providence on financing for the acquisition. Cobalt — working alongside Sweden's Hamilton law firm — advised the Modern Times Group on the deal.
Slaughter and May has advised Attarat Power Company (APCO) and project sponsors Eesti Energia AS (EE) and YTL Power International Berhad (YTL) on the construction and project financing of a 554MW gross oil shale fired mine mouth power station and open cast oil shale mine in Attarat um Ghudran, Jordan.
Primus's Tallinn office has advised leading BaltCap on 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 the sellers and Cobalt advised the management of Sanoma Baltics AS on the transaction, which is expected to close in spring 2017 and the parties have agreed not to disclose the value of the transaction.
Sorainen Estonia has advised Nettbuss, the Norwegian bus operator, on its acquisition of 15% of Estonian technology company T Solutions. Primus advised T Solutions on the deal, which also involves an agreement by Nettbuss to implement T Solutions’ technology on Nettbuss commercial express lines in Norway and Sweden.
Tark Grunte Sutkiene has advised Estonian company 1Home Group AS on its acquisition and takeover of management of a student hotel in Riga and its obtaining of EUR 8.4 million financing from AS DNB Banka for the expansion of its business of providing rental housing for students in the Baltics and Poland.
Njord has won a public tender organized by the Tallinn University of Technology to provide "high-level training of 30 selected inspectors of the Labor Inspectorate and heads of the Labor Dispute Committee in Estonia regarding occupational and health regulations, labor relations, and labor disputes."
On February 3rd, 2017, CEELM reported that the Estonian Supreme Court ruled in favor of If P&C Insurance’s claims regarding professional liability involving a construction project for Skanska AS. We reached out to Heinar Olak, the Head of Legal at If P&C, to clarify the grounds of the dispute and its finale.
Varul, the Estonian member of Tark Grunte Sutkiene, has advised the shareholders and management of Citypark Eesti, one of the largest parking services providers in Estonia, on the sale of 100% of its shares to Stova, a member of Lithuania's Modus Group. Cobalt advised Stova on the deal. Financial terms were not disclosed.
Attorneys Aivar Pilv and Anneli Aab from Leadell Pilv in Estonia have successfully defended clients Karl and Kaarel Liivapuu in Harju County Court against a civil claim for damages of over EUR 127,000 based on allegations that they improperly influenced "a member of management board ... to perform a transaction harmful for the company by selling an apartment under its market value."