Sorainen has advised Pigu.lt and its shareholders on its merger with Morele.net. Polish private equity group MCI, an investor in both Pigu.lt and Morele.net., was reportedly advised by Norton Rose Fulbright on the deal.
Morele is a Polish e-commerce platform operating in the consumer electronics distribution segment and is part of the portfolio of companies owned by MCI Capital Funds, while Pigu.lt, an online retailer in the Baltics, is part of the MCI.TechVentures portfolio.
Sorainen reports that, “the merger will result in the creation of one of the largest e-commerce groups in Central and Eastern Europe, with a plan to exceed annual turnover of one billion euro over the next five years.”
The Sorainen team was led by Partner Mantas Petkevicius and Senior Associate Deimante Pagiriene.
Editor's Note: After this article was published, CEE Legal Matters was informed that TGS Baltic had advised the MCI and its sub-fund MCI.TechVentures 1.0, which owns SIA Pigu Latvia, on the merger of Pigu.lt and Morele.net. The TGS Baltic team was led by Partner Andra Rubene and Senior Associate Mara Stabulniece, supported by Legal Assistant Martins Galzons.