Cobalt and Ellex Advise on BaltCap Sale of Fitek

Cobalt and Ellex Advise on BaltCap Sale of Fitek

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Cobalt has advised BaltCap on the sale of its 95% stake in Baltic-based Fitek Holding to the UnifiedPost Group, which was advised by Belgian law firm Quorum and Ellex Raidla.

Financial details of the deal were not disclosed.

Fitek focuses on financial automation processes and operates in Estonia, Latvia, Lithuania, the UK, Slovakia, the Czech Republic, Serbia, and Bosnia and Herzegovina. 

UnifiedPost Group is a FinTech firm headquartered in Belgium.

Cobalt’s pan-Baltic team consisted of, in Estonia, Partner Peeter Kutman, Specialist Counsel Ott Aava, Associate Liina Saaremets, and Assistant Lawyer Kerli Paasoja; in Latvia, Partner Guntars Zile, Specialist Counsel Andrejs Lielkalns, Senior Associates Elina Locmele and Inga Tenisa, and Associate Diana Zepa; and in Lithuania, Partner Juozas Rimas and Senior Associate Inga Mazvilaite.

The Ellex team in Estonia included Partner Sven Papp, Counsel Jaanus Ikla, and Senior Associate Gerda Liik