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Eversheds Sutherland Ots & Co Advise on Acquisition of Baltic Classifieds Group by Apax

Eversheds Sutherland Ots & Co Advise on Acquisition of Baltic Classifieds Group by Apax

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Eversheds Sutherland Ots & Co has advised Apax Partners and Media Investments & Holding OU on the acquisition of the Baltic Classifieds Group, a portfolio of online classified advertising platforms in the Baltics. The transaction is expected to close by July 2019.

The Baltic Classifieds Group operates the Autoplius.lt, Aruodas.lt, Skelbiu.lt, CVBankas.lt, KV.ee, City24.ee, City24.lv, Osta.ee, and Soov.ee online classifieds platforms for automotive, real estate, jobs, and general merchandise. The company operates in Lithuania through Diginet LTU and its portals generate more than 50 million monthly visits.

Eversheds Sutherland Ots & Co’s team included Managing Partner Maivi Ots, Partner Risto Ruutel, Counsel Marten Amjarv, and Lawyers Erika Tuvike and Maarja Junti.

Eversheds Sutherland Ots & Co did not reply to our inquiry on the matter.

Editor's Note: After this article was published Cobalt announced that it had also advised Apax Partners on the deal. According to the firm, "the client was advised by Cobalt's pan-Baltic team on all aspects of the transaction, including carrying out the legal due diligence, help with the transaction documents, as well as assisting the client in getting a merger clearance for the acquisition." 

The Cobalt team was led, in Estonia, by Partner Martin Simovart and Specialist Counsel Ott Aava, supported by Associate Liina Saaremets. They were assisted by Latvia-based Partner Guntars Zīle and Senior Associate Elīna Locmele and Managing Partner Irmantas Norkus and Senior Associates Inga Mazvilaite and Justinas Kondratas from Lithuania. According to the firm, "the project also required a significant contribution by our Competition Team’s Partner Elo Tamm, Specialist Counsel Elena Hansov, and Associate Marit Martens, all in Estonia, and Partner Rasa Zasciurinskaite and Senior Associate Paulius Bartkus in Lithuania.".

Cobalt at a Glance

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal.