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Cobalt Helps Swedbank on Internal Restructuring in Baltics

Cobalt Helps Swedbank on Internal Restructuring in Baltics

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Cobalt has helped Swedbank on its internal restructuring in the Baltics, as a result of which the bank’s existing subsidiaries in Estonia, Latvia, and Lithuania will continue under the ownership of the bank’s new subsidiary, Swedbank AB.

Swedbank is a Nordic-Baltic banking group headquartered in Stockholm. According to Cobalt, the holding company will create a sub consolidated group within a single supervisory mechanism.

“The changes aim to ensure a simple and transparent governance structure with clear decision making that supports the bank's long-term strategy in all four of Swedbank’s home markets – Estonia, Latvia, Lithuania, and Sweden,” said Jens Henriksson, President and CEO of Swedbank.

Cobalt’s team consisted of, in Estonia, Partners Kristel Raidla-Talur, Egon Talur, and Karina Paatsi, Managing Associate Monika Koolmeister, Senior Associates Karli Kutt, Heleri Tammiste, and Heili Haabu, Associate Peep Vahi, and Assistant Lawyer Julija Kostomarova; in Latvia, Partners Gatis Flinters, Sandija Novicka, and Toms Sulmanis, Specialist Counsel Andrejs Lielkalns, Senior Associate Ivo Cimdins, and Associate Krisjanis Buss; and in Lithuania, Partners Eva Suduiko, Akvile Bosaite, and Rokas Daugela, Senior Associate Jovita Valatkaite, and Associate Milda Vaznelyte.

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.