Cobalt has advised longtime client Alexela Oil on its acquisition of Euro Oil’s 24 petrol stations in Estonia. The sellers on the share deal were advised by Rask, and closing remains contingent on the approval of the Estonian Competition Authority.
Alexela Oil was established in 1993 and 77 percent of its shares are owned by energy company Alexela Group. Skinest Group owns 22 percent of the shares. The acquisition of Euro Oil's 24 Estonian petrol stations increases the number of Alexela Oil’s fuel stations in the country to 100, making it the biggest petrol station chain in Estonia by number of stations.
Cobalt's team was led by Partner Peeter Kutman and Associate Liina Saaremets.
Rask's team was led by Partner Ramon Rask, supported by Attorney Timo Kullerkupp.