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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 a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 240 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both 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 full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. 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 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2020, 2019, and 2018 client satisfaction surveys. In 2021 we were recognized as a highly recommended law firm in the Baltics at The Lawyer European Awards 2021 ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. More information on COBALT can be found at www.cobalt.legal.