29
Fri, Mar
51 New Articles

Cobalt Advises Lietuvos Radijo ir Televizijos Centras on Sale of Mezon to Bite Group

Cobalt Advises Lietuvos Radijo ir Televizijos Centras on Sale of Mezon to Bite Group

Lithuania
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Cobalt has advised Lithuania's AB Lietuvos Radijo ir Televizijos Centras - Telecentras on the sale of its data transmission and digital television business developed under the Mezon brand to Lithuania's Bite Group.

According to Cobalt, “Telecentras has about 95,000 Internet service users and provides radio and TV broadcast transmission, data center, IT, infrastructure rental, telephony solutions, and other services."

Cobalt’s team included Partners Elijus Burgis and Rasa Zasciurinskaite and Senior Associates Julija Timoscenko and Justinas Sileika.

Cobalt did not reply to our inquiry on the matter.

Editor's Note: After this article was published CEE Legal Matters learned that Sorainen had advised Bite on the deal. According to Sorainen, the transaction is valued at over EUR 20 million. In addition, the firm reports, "Mezon Internet and data transmission services make up approximately 2% of the total Lithuanian telecommunications market. Around 97,000 customers use Mezon internet services, and over 11,000 customers watch Mezon TV, which is broadcasted via the wireless internet network."

Sorainen's team consisted of Partner Laimonas Skibarka, Daivis Svirinas, and Saule Dagilyte, Counsel Stasys Draydauskas, Senior Associates Jonas Kiauleikis, Vytautas Sabalys, Monika Malisauskaite-Vaupsiene, and Rasa Mikutiene, and Associate Dobile Minkute.

Subsequently, on January 6, 2021, Sorainen reported that the deal "was completed at the end of December in 2020, after the Competition Council and the Communications Regulatory Authority granted their approval, and after Bite made certain commitments."

 

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 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 gives 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 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards 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.