Ellex Raidla has advised Estonian start-up ZeroTurnaround on the sale of the business to Rogue Wave Software, Inc.
According to TRACE Matrix 2016 results, Estonia is the third least corruption prone country in the world, minimizing the risk of liability under anti-corruption regulations. To date, there is no case law under FCPA rules concerning Estonia. Nevertheless, the legal framework set by the FCPA gives rise to theoretical problems of definition which may hinder its enforcement.
On Thursday, November 30th, leading legal practitioners from across Central and Eastern Europe gathered in Prague to help CEE Legal Matters celebrate its fourth successful year as the leading chronicle of the legal industry in the region, participating in an expert Round Table conversation about the year just concluded and enjoying an evening of dinner, drinks, and bonhomie.
Ellex Raidla and Cobalt have worked alongside Taaleri Capital in advising the management of Oriola Baltic in their August 14, 2017 buyout of the company's five Baltic subsidiaries, the reorganizing of the subsidiaries in Estonia, Latvia, and Lithuania under a new Latvian parent company, SIA Oribalt Group, and the transaction financing.
The Deal: On March 20, 2017, CEE Legal Matters reported that Primus’s Tallinn office had advised BaltCap on its acquisition of 100% of Sanoma Baltics AS – the operator of the Estonian online classified sites auto24 and Kuldne Bors – from Sanoma Media Finland Oy. Sorainen advised Sanoma Media Finland, and Cobalt advised the management of Sanoma Baltics on the transaction, with Ellex Raidla advising AS LHV Varahaldus on its provision of financing for the transaction.