Kronbergs Cukste Levin has advised environment management group Eco Baltia on the sale of a controlling stake in the company to INVL Baltic Sea Growth Fund. Primus Derling reportedly advised the buyers on the deal, which remains subject to regulatory approval from the Lithuanian Competition Council.
Stephenson Harwood also reportedly advised Eco Baltia.
According to INVL Baltic Sea Growth Fund, “the European Bank for Reconstruction and Development, which currently holds 30.51% of shares, would remain as the second-largest stakeholder in Eco Baltia after the fund closes the transaction. The fund and the EBRD intend to lead the company on a journey of growth-seeking to establish a clear market leader in the Baltics.”
Kronbergs Cukste Levin's team included Partner Vineta Cukste-Jurjeva and Associate Santa Praulina.