Glimstedt has advised the Vienna Insurance Group on its acquisition of a majority of shares of the BTA Baltic Insurance Company, which is headquartered in Latvia and has branch offices in Lithuania and Estonia. Vilgerts advised BTA on the deal. The purchase agreement is subject to regulatory approval. Neither the percentage of shares acquired by VIG, nor the value of the acquisition, was disclosed.
Sorainen and Weil Gotshal have advised Providence Equity Partners on its acquisition of the Bite telecom group from Mid Europa Partners for an undisclosed value. Cobalt and Freshfields Bruckhaus Deringer advised Mid Europa Partners in the transaction, which is expected to close in the first quarter of 2016.
Cobalt has announced that lawyers from the Borenius team in Estonia, Latvia, Lithuania, and Belarus will join it from January 1, 2016, turning Cobalt into “the largest full-service business law firm operation in the region.” This follows Borenius’ announcement earlier this week that it is withdrawing from the Baltics, and Sorainen’s announcement that it had picked up former Borenius Lithuania Partners Daivis Svirinas and Zygimantas Pacevicius, along with another eleven lawyers (as reported by CEE Legal Matters on September 21, 2015).
Central Asia’s Grata International law firm continues its expansion into CEE with the announcement that Grata Senior Partner Akhmetzhan Abdullayev had signed an August 26, 2015, Memorandum of Understanding and Cooperation with Senior Partner Aldis Alliks of the Alliks un Partneri firm in Riga, Latvia.
On May 18 and 19, 2015, separate press releases came across the wire, announcing that the Lithuanian and Latvian offices of two of the top pan-Baltic alliances – Raidla, Lejins & Norcous (RLN) and Lawin – had, in essence, dissolved, traded Estonian offices, and reorganized. The former Lithuanian and Latvian members of RLN and the former Estonian member of Lawin re-formed as Cobalt, while the former Lithuanian and Latvian offices of Lawin and the former Estonian office of RLN re-formed as Ellex.
The Latvian and Lithuanian offices of Raidla Lejins & Norcous (RLN) and the Estonian office of Lawin have left their firms to join forces in what they describe as "a vibrant new pan-Baltic alliance.” The result — “Cobalt” — also includes an office in Belarus. As a result, Irmantas Norkus, the Managing Partner of Cobalt’s Lithuanian office said yesterday, “RLN is dissolved as of today.”