Cobalt has advised the 888 Holding on its sale of two Latvian businesses – Mr. Green Latvia and William Hill Latvia – to Paf Consulting for a total consideration of up to EUR 28.25 million. QAP Legal reportedly advised Paf Consulting.

Cobalt has advised Lithuanian venture capital fund management company Practica Capital on its investment in anti-money laundering start-up Amlyze.

Cobalt has advised the Baltic Horizon Fund on its agreement with ECRE IV (Lux) for the full sale of BH Duetto – the owner of the Duetto I and II office buildings in Vilnius, Lithuania.

Cobalt has successfully represented the Republic of Estonia during the judicial proceedings in the VEB Fund case, with the fund having been established 30 years ago to address the issue of banking funds blocked in the Russian Federation.

Contributed by Cobalt.

Sorainen has advised BaltCap on its acquisition of a 70% stake in the Hansab Group. Cobalt advised Hansab's majority shareholders on the sale.

Cobalt has successfully represented the interests of Tukuma Auto in a dispute against the Road Transport Administration in Latvia regarding amendments to procurement agreements executed with Nordeka for the provision of public transport services by buses on regional route networks.

Cobalt has advised the BaltCap Private Equity Fund III on its acquisition of a minority stake in Eesti Digiraamute Keskus.

Cobalt has advised Tallinn's Creative Hub on public procurement proceedings for the design and maintenance of a reconstructed building as a center for cultural exports and the creative economy.

Cobalt has represented Hundipea in multiple disputes related to the Paljassaare port and related water area before the Estonian Transport Administration, the Ministry of Economic Affairs and Communications, and the Administrative Court.

Cobalt has advised the Estonian Transport Administration on the procurement procedure for the design and construction of the Sindi-Lodja Bridge on the Reiu River.

Cobalt has advised the Amber Beverage Group on its EUR 30 million issuance of four-year senior secured bonds with Signet Bank as the arranger. Ellex was the collateral agent on the issuance.

On 20 April, the European Parliament endorsed two regulations which will fundamentally change the crypto-asset market landscape in the EU and potentially beyond: the Regulation for Markets in Crypto-assets (MiCA) and the recast version of the Transfer of Funds Regulation (TFR recast). As a forerunner in regulating crypto business, Estonia has had local crypto laws in place since 2017, however, MiCA and TFR recast will be directly applicable in the EU and will replace the respective local legislation.

Following the general election, the new coalition government has committed to balancing the state budget and consequently revealed many intended taxation changes. While these ideas are not yet set in stone, here are the key changes that could be expected based on what has been communicated.

On the evening of April 25, 2023, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms and ILFs active in the region in Istanbul.

Sorainen has advised Lagrotte and the Net Systems Group on selling Hohle to HellermannTyton. Cobalt advised the buyer.

Cobalt has advised Pakrineeme Sadama on selling its liquefied natural gas loading quay in Paldiski – together with the related infrastructure and port property – to the Estonian Stockpiling Agency for a total transaction value of EUR 31.5 million.

On February 24, 2023, the Latvian Constitutional Court issued a long-awaited Judgement in case 2022-03-01 confirming that the current control mechanism over arbitration in Latvia is incomplete and unconstitutional. This means that the government will now be required to introduce a procedure for setting aside arbitral awards made by tribunals seated in Latvia.