Ellex Raidla has advised BaltCap Private Equity Fund II (BPEF II) on its sale of Estonia's auto24 automotive classifieds portal to Baltic Classifieds Group. Simpson Thacher & Bartlett and Cobalt advised the Baltic Classifieds Group.
According to Ellex, auto24, which was founded in Tartu and is headquartered in Tallinn "is a leading automotive classifieds business in the country connecting buyers and sellers through its auto24.ee portal. It also operates a general classifieds site (kuldnebors.ee) in a variety of categories."
Baltic Classifieds Group is a portfolio of online platforms in the Baltics, focusing on five markets: specialized classifieds for automotive, real estate and jobs; general classifieds; and ecommerce.
The Ellex Raidla team was led by Partner Ermo Kosk and included Counsel Toomas Kasesalu, Senior Associates Sandra Vark and Dmitri Rozenblat, and Associates Merlin Liis and Marilin Laud.