Cobalt has advised the AS Ekspress Grupp, a leading media group in the Baltic countries listed on Tallinn Stock Exchange, on its acquisition of a 49% holding in Babahh Media OU, an Estonian company that engages in video production, media solutions, and the sale of video related infrastructure solutions, from Tomarek Invest OU and Heeringas OU. Primus advised the sellers on the deal.
According to Cobalt, the goal of the acquisition is to expand Ekspress Grupp’s business "in the quickly changing area of video production and video transmission on the Internet." AS Ekspress Grupp also secured the option to acquire additional shares in Babahh Media OU in 2021, which would result in its holding in Babahh Media OU’s share capital would increase to 70%.
The Cobalt team advising on the transaction included Partners Peeter Kutman and Kristel Raidla-Tallur with Associate Greete-Kristiine Kuru.
Editor's Note: After this article was published, Primus announced it's team consisted of partner Ermo Kosk and Senior Associate Sandra Vark.