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“The Estonian market faces a combination of challenges on how to boost the economy and attract business,” says Merit Lind, Partner at Deloitte Legal in Estonia. “However, some of the initiatives clash somewhat with anti-money laundering prevention policies,” she says, referring to the e-Residency program famously introduced in the country at the end of 2014.

The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”

Ellex has represented Estonia's Inbank on its acquisition of 100% of the shares of UAB Mokilizingas from its shareholders, LHV Group and UAB Inovatyvus Prekybos, after receiving the permission of the Bank of Lithuania to finalize the deal.

The winners of the 2017 CEE Deal of the Year Awards were announced at the first ever CEE Legal Matters Deal of the Year Awards Banquet last night in Prague. The biggest smiles in the joyous and music-filled celebration of CEE lawyering, perhaps, were on the faces of Partners from Avellum and Sayenko Kharenko, which, along with White & Case and Latham & Watkins, won the award both for Ukrainian Deal of the Year and CEE Deal of the Year for their work on the 2017 Ukraine Eurobond Issue (a story initially reported by CEE Legal Matters on October 2, 2017).

Noerr, Ellex Raidla, Jeantet, and Bowman Gilfillan have advised Daimler AG on a USD 175 million investment in Estonian startup Taxify. Sorainen Estonia advised Taxify on the successfully concluded funding round that brought its valuation to the USD 1 billion mark.

Pohla & Hallmagi has advised Hansapost on its merger with Finnish company Hobby Hall. HPP Attorneys advised Hobby Hall Oy and its Finnish shareholders SGN Group Oy (which acquired Hobby Hall early in 2007) and Four P&P Consulting Oy on the merger.