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Cobalt Advises on Sale of Apotheca Pharmacy Chain

Cobalt Advises on Sale of Apotheca Pharmacy Chain

Lithuania
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Cobalt has advised the shareholders of the Lithuanian Apotheca Vaistine pharmacy chain on its sale to Magnum. Eversheds Sutherland reportedly advised the buyer.

The transaction remains contingent on the Competition Council’s regulatory approval.

Apotheca Pharmacy network includes 48 pharmacies operating in Lithuania.

Magnum is a pharmaceutical wholesale and retail group that owns 17 companies in Estonia, Latvia, Lithuania, Finland, and Belarus, with a total turnover of more than EUR 500 million in 2020. Magnum has operated 13 pharmacies in Vilnius, Panevezys, Kaunas, Klaipeda, and other cities in Lithuania.

The Cobalt team was led by Partner Juozas Rimas and Associate Kostas Grigaitis.

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.