Across Europe, defense sectors are experiencing significant transformations and budgetary escalations, driven by a need for enhanced military readiness and modernization. Avellum Partner Andriy Romanchuk, Cobalt Partner Deividas Soloveicik, Nagy es Trocsanyi Partner Gyorgy Kiszely, and Tuca Zbarcea & Asociatii Partner Serban Paslaru take a closer look at defense spending in their respective countries.

In a compact nation like Estonia, the prominence of construction projects can swiftly transcend local interests and become matters of national interest. The escalation of public attention toward large-scale construction projects invites heightened scrutiny by different interest groups. Notably, several recent projects have become entangled in legal disputes, profoundly impacting anticipated timelines and financial forecasts. This article aims to delineate emerging patterns from recent cases and offer recommendations aimed at preventing and avoiding legal contentions.

Linklaters and Cobalt have advised Mirova on its investment in the Estonia-based Baltic Storage Platform energy storage project, a joint venture between Corsica Sole and Evecon established in 2023.

On the occasion of this year’s recent Deal of the Year Awards Banquet and GC Summit in Warsaw, did you know that, according to the Activity Rankings feature of the CEELMDirect website, partners of pan-Baltic law firms dominated the list of the ten lawyers who worked on the most client matters reported by CEE Legal Matters in the first decade of its existence?

Did you know that, according to the Activity Rankings function of the CEELMDirect website, of the 88 law firm partners who have reported working on disputes in CEE over the past 12 months, only nine have reported working on more than one?

Cobalt has advised Latvian construction equipment rental company Storent Holdings on a new bond issuance, which raised EUR 8.7 million for notes with a 10% interest rate.

Did you know that the early 2024 deal leaderboards are already available via the Activity Rankings function of the CEELMDirect website?

Cobalt has advised the owners of Lithuanian wood pellet manufacturer Granulita on the sale of the company to Zalvaris. PwC Legal advised the buyers.

Cobalt has advised Latvian national carrier AirBaltic on its agreement with UPB Nams for the construction of the Baltic Cargo Hub at the Riga Airport, as well as on the related agreements with Riga Airport and design and construction agreements.

TGS Baltic, working with Baker McKenzie and Accura, has advised Mitsubishi on its acquisition of a 20% stake in Denmark-based European Energy through a EUR 700 million investment.

Cobalt has advised Baltic real estate developer Capital Mill on the sale of its 3.3-hectare industrial property located at Granita Iela 17, in Riga, to Proks Capital in a share transaction.

Wolf Theiss and Cobalt have advised Accession Capital Partners Credit on a EUR 10 million credit facility granted to Mogo IFN.

Cobalt has advised the ERB Rail JV consortium – formed by France's Eiffage Genie Civil, Poland's Budimex, and Italy's Rizzani de Eccher – on the public procurement process and the EUR 3.7 billion contract for the construction of the Rail Baltica mainline in Latvia with SIA Eiropas Dzelzcela Linijas.

While Lithuania’s fintech sector has emerged as a European powerhouse, the number of licensed companies has been decreasing, indicating a shift towards a more quality-focused approach. Cobalt Partner Akvile Bosaite, Motieka Head of Financial Services and Compliance Sigita Zavisiene, and Walless Partner Joana Baublyte-Kulviete take stock of the sector.

An in-depth look at Dace Silava-Tomsone of Cobalt covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.

Lithuania’s tax system underwent a major overhaul in 2004 when the country joined the European Union. For almost two decades, its evolution has been slow-paced – one could even call it cosmetic.

Amendments to the Latvian Taxes and Duties Law came into effect on June 30, 2023. The aim of these amendments was to enhance the efficiency of the tax control system.

It was another strong year for the leading law firms in Central and Eastern Europe, which, combined, worked on over a thousand deals and other client matters across the region reported on by CEE Legal Matters this year. According to the Activity Rankings function of the CEELMDirect website, Clifford Chance, which worked on an impressive 95 CEELM-reported CEE client matters in 2023, led the international firms in the region, with Schoenherr, which worked on 90, close behind. Dentons (82), CMS (71), Wolf Theiss (65), Cobalt (66), Kinstellar (50), White & Case (45), and Allen & Overy (42) took notable places on the leaderboard as well.