Earlier this year the Estonian parliament enacted long-awaited dedicated covered bond legislation, finally allowing local banks to enter both regional and European-wide covered bond markets and to gain access to a reasonably priced and stable source of long-term funding for their key banking businesses (most importantly for funding the issuance of mortgage loans). Additionally, under the new legislation, local covered bond issuers able to meet prudential requirements under the Capital Requirements Regulation (CRR) will be able to benefit from certain forms of preferential treatment afforded to covered bonds. For the local banking sector that, at the moment, remains dominated by Scandinavian banking groups, the new legislation also creates a viable alternative to the parent funding.

Ellex Raidla has advised Auto-Bon Oy on the acquisition of Veho’s Estonian subsidiary, Veho Eesti AS. Veho was advised by TGS Baltic. Financial details were not disclosed, and the acquisition remains subject to approval by competition authorities.

Kinstellar, Soltysinski Kawecki & Szlezak, and Cobalt have advised Stada Arzneimittel on the acquisition of Walmark from Mid Europa Partners. White & Case and Weil, Gotshal & Manges reportedly advised the sellers on the deal.

TGS Baltic has advised the shareholders of Tallinn-based Eesti Digiraamatute Keskus on the sale of a majority shareholding to Russia publisher OOO Litres.

Former Wolf Theiss Poland Co-Managing Partner Ron Given has joined Deloitte Legal as its CE Senior Legal Counsel, responsible for all of the firm’s offices in 19 Central and Eastern European countries.

Sorainen has advised Baltic private equity investment fund Livonia Partners on its acquisition of Klaasimeister, an Estonia-based glass processing company. The transaction remains contingent on the approval of the Estonian Competition Authority.

Sorainen's Estonian and Lithuanian offices have advised Nordea Bank and DNB on financing they provided to the Luminor Group to develop Luminor’s lending activities and group liquidity buffers and to refinance existing debt. Cobalt advised Luminor on the deal.

Ellex Klavins has advised Air Total International on the sale and transfer of its shares in SIA Gulfstream Oil.

PwC Legal has advised Baltic cinema operator Forum Cinemas OU on its cross-border merger with SIA Forum Cinemas and UAB Forum Cinemas, Finnkino OY’s companies in Latvia and Lithuania.

Ellex Raidla has advised Arealis on the sale of the Microsoft Office Building in Tallinn to LHV Pension Funds and Lumi Capital. Eversheds Sutherland advised Lumi Capital on the deal.

Cobalt and Linklaters have advised the Zeppelin Group on its acquisition of Tallinn's Baltic Marine Contractors from the Pon Group.

Sorainen, working with Sweden's Hansen Law, has advised Xllnc Nordic on the acquisition of Estonia's Replace OU.

Ellex Raidla has advised Enefit Green and Nordic Environment Finance Corporation on the sale of their shareholdings in Vinni and Oisu biogas combined heat and power plants to Infortar.

Ellex Raidla has helped international transport and logistics company Operail open a subsidiary in Finland and invest EUR 50 million to begin freight transport on Finnish railways.

Sorainen has advised Livonia Partners and its portfolio company Thermory AS on the acquisition of a majority share in Siparila Oy, a Finnish wood-processing company specializing in exterior and interior panels and cladding.

Former Ellex Raidla Senior Associate Rutt Vark has become head of M&A at PwC Legal Estonia.

Ellex Raidla and Hannes Snellman have advised Marrone Bio Innovations, Inc. on its USD 31.8 million acquisition of Pro Farm Technologies Oy. The Magnusson Law Firm advised the sellers on the deal.

Nove has successfully represented AS SEBE bus and transportation company in a public procurement dispute.