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 Advises Practica Capital on Amlyze Investment
Cobalt has advised Lithuanian venture capital fund management company Practica Capital on its investment in anti-money laundering start-up Amlyze.
Cobalt Advises Baltic Horizon on Sale of Duetto Office Buildings to ECRE IV
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 Successful for Republic of Estonia in VEB Fund Case
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.
Capital Markets in Latvia
Contributed by Cobalt.
Sorainen and Cobalt Advise on BaltCap Acquisition of Hansab
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 Successful for Tukuma Auto Against Autotransporta Direkcija
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 Advises BaltCap on Acquisition of Eesti Digiraamatute Keskus
Cobalt has advised the BaltCap Private Equity Fund III on its acquisition of a minority stake in Eesti Digiraamute Keskus.
Cobalt Advises Tallinn Creative Hub on Public Procurement Proceedings
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 Represents Hundipea in Disputes Related to Paljassaare Port
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 Advises Estonian Transport Administration on Procurement for Sindi-Lodja Bridge
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 and Ellex Advise on Amber Beverage Group EUR 30 Million Bond Issuance
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.
Crypto-Asset Markets to Be Subject to EU-wide Regulation at Last
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.
Tax Changes Pursued by the New Government
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.
CEELM Deal of the Year Awards Banquet: And the Winner Is...
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 and Cobalt Advise on Sale of Hohle to HellermannTyton
Sorainen has advised Lagrotte and the Net Systems Group on selling Hohle to HellermannTyton. Cobalt advised the buyer.
Cobalt Advises Pakrineeme Sadama on Sale of LNG Quay to Estonian State
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.
Latvian Constitutional Court: Absence of a Mechanism for Setting aside of Arbitral Awards Violates the Rights to a Fair Trial
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.