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Cobalt and Rask Advise on Alexela Oil Acquisition of Euro Oil Petrol Stations in Estonia

Cobalt and Rask Advise on Alexela Oil Acquisition of Euro Oil Petrol Stations in Estonia


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.

Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

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