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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).

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.”

Raidla Lejins & Norcous has advised the shareholders of Cgates, the second largest Lithuanian provider of television rebroadcasting and internet access services, on the sale of their shareholding in the company to the Swedish investment company East Capital. The transaction was valued at more than EUR 56 million.

Tark Grunte Sutkiene has announced that the Lithuanian office of erstwhile competitor Baltic Legal Solutions will be joining its Vilnius team.

Lawin has advised the Israeli venture capital fund Entree Capital on a EUR 400,000 investment in the Lithuanian mobile payments company UAB WoraPay. The investment was made through Olerra Investments Limited, which is an affiliate company of Entree Capital and operates under the Entree Capital brand.

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Varul Lithuania has reported that Partner Marius Devyzis has been elected the Chairman of the Board of handball club VHC Sviesa Vilnius, which became the “Vice-Champion” of the Lithuanian Handball League 2013-2014.

Sorainen Lithuania has advised PKC on opening a manufacturing unit in Lithuania. PKC is a global leader in design, manufacture, and integration of electrical distribution systems, electronic and related architecture components for the commercial vehicle industry, among others. 

Varul’s M&A team advised on the sale of shares in the Cinamon Group of companies from GILD Arbitrage venture capital fund to DLT Capital, an Estonian company owned by Russians Tatjana Tolstaja and Vitaly Yakovlev.