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Glimstedt and Ellex Valiunas Advise on IKEA Group Acquisition of Lithuanian Wind Farms

Glimstedt and Ellex Valiunas Advise on IKEA Group Acquisition of Lithuanian Wind Farms

Lithuania
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Glimstedt has advised the IKEA Group on its acquisition of a 45 MW capacity wind farm in the Lithuanian district of Mazeikiai by purchasing the shares of the investment fund Orion Alternative Energy Fund (managed by the company Orion Asset Management) and the shares of Pamario Jegainiu Energija held by the investment fund Energy Investment Fund. The sellers were advised by Ellex Valiunas. 

According to Glimstedt, "the wind park acquired by IKEA Group is one of the largest wind farms in terms of installed capacity and was recognized as one of the most efficient wind farms in Lithuania last year. The wind turbines are 120 meters in height and 350 tonnes in weight, with a rotor diameter of 117 meters and an installed capacity of 2.4 MW.

The Glimstedt team was led by Partner Paulius Gruodis, assisted by Associate Michailas Molis, Senior Associate Asta Macijauskiene, and other lawyers. 

The Ellex Valiunas team was led by Partner Zilvinas Zinkevicius, supported by Senior Associates Ruta Besusparyte and Gabriele Vazniokaite and Associate Edvinas Beikauskas.

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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

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