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Sorainen Advises YIT on Sale of Paving and Mineral Aggregates Business in Estonia

Sorainen Advises YIT on Sale of Paving and Mineral Aggregates Business in Estonia

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The Tallinn office of Sorainen has advised YIT on the sale of its paving and mineral aggregates business in Estonia to KMG Inseneriehitus. Cobalt reportedly advised the buyer.

The deal is expected to close in the second quarter of 2021.

YIT is a Finnish developer of apartment buildings, business centers, and other urban projects. The company employs approximately 7,400 professionals in Finland, Russia, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia, and Poland. According to Sorainen, approximately 170 YIT employees will be transferred to KMG as part of the transaction. The businesses sold in the transaction reported EUR 35 million in revenue in 2020.

Sorainen’s Estonian team consisted of Partner Piret Jesse, Counsels Lauri Liivat, Kaido Kunnapas, and Piibe Lehtsaar, Senior Associates Robin Teever and Lise-Lotte Laane, Associates Vladislav Leiri and Liisa Maria Kuuskmaa, and Legal Assistant Kadri Puu.

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.