Cobalt has advised Luminor on the company’s management structure reorganization. As a result, Luminor will be headquartered in Estonia with branches in Latvia and Lithuania.
The change is planned to take place in January 2019.
Luminor, a joint venture of DNB and Nordea banks, was established on October 1, 2017 as a new-generation financial service provider in the Baltics (as reported by CEE Legal Matters on October 12, 2017). According to the company, the reorganization will make its management structure more transparent and work processes more efficient.
Cobalt's Tallin team consisted of Partners Kristel Raidla-Talur, Karina Paatsi, and Egon Talur, Senior Associates Heleri Tammiste, Heili Haabu, and Karli Kutt, and Associates Mattias Tammeaid and Mart Blondal. The Riga office was represented by Partners Gatis Flinters and Sandija Novicka, Specialist Counsel Andrejs Lielkalns, Associates Krisjanis Buss, Diana Zepa, and Assistant Lawyer Sabine Vilka. The Vilnius team was led by Managing Associate Eva Suduiko and included Senior Associate Elena Vegelyte and Associate Aurelija Balciune.