Sorainen has advised Estonian ready-mix concrete producer Betoonimeister on the sale of a majority stake to German building materials group Schwenk.
The transaction remains contingent on regulatory approval.
According to Sorainen, “as a result of the transaction, Schwenk aims to expand their operations, especially in the ready-mix concrete production market in the Baltics, which is outside of its current geographical area of operation. Following the acquisition, Betoonimeister’s daily work and management will remain the same, all employees will continue with the company and the current contracts are valid.”
Sorainen's team included Partner Paul Kuennap and Associate Andra Gruenberg.
Sorainen did not respond to our inquiry on the deal.
Editor's Note: After this article was published, Cobalt announced it had advised Schwenk on the acquisition. The firm's team included Partner Peeter Kutman, Specialist Counsel Mart Blondal, Senior Associates Liina Saaremets, Siim Vahtrus, and Helen Sool, and Assistant Lawyer Ken Saksniit.