Five of Valiunas Ellex's 19 partners have announced that they will be leaving the highly-regarded Lithuanian firm.

Sorainen has successfully defended Valdas Sarunas, a former director of Lithuania's Kedainiu Aruodai grain producer and seller, against a claim for damages brought by the company.

In recent years, blockchain technology has offered the business world a variety of new and innovative ways to improve and grow. Starting with initial coin offerings, blockchain technology has found its way into the financial services industry and many other fields of business in Lithuania. The trend of “asset tokenization” has recently become popular among companies seeking to adopt innovative modern technologies and create novel ways to apply blockchain technology when doing business. However, as convenient and simple as it may seem, asset tokenization is an extremely complicated business model, challenging not only the traditional approaches to the sale and purchase of assets, but also raising questions about the relevance of applicable laws and regulations currently in effect.

TGS Baltic has announced that it has reformed its corporate structure and created a new team to lead its structural units. From now on, the law firm will organize its activities on nine "main market industries," each led by a specific partner.

Ellex Valiunas has advised the shareholders of Caffeine on the sale of 100% of the company's shares to Norway's Reitan Convenience, which operates the Narvesen and Lietuvos Spauda chains of convenience stores and news agents in Lithuania. The buyer was represented by Cobalt.

Sorainen has advised the PPI Group on its approximately EUR 20 million acquisition of a site in Vilnius old town from Mikotelgroup to develop residential buildings with commercial premises. Adlex advised the sellers on the deal.

Ellex has helped Mano Bankas obtain a specialized bank license to operate in Lithuania.

Motieka & Audzevicius has advised Kesko Senukai on the acquisition of the "1A" e-commerce business in all three Baltic States from SIA MZ Investments, SIA GS, and SIA KP Investments. Kronbergs Cukste Levin advised the sellers on the deal.

Deloitte Legal Lithuania has advised Aurora Cannabis Inc. on its acquisition of 100% of the issued and outstanding shares in Agropro UAB and Borela UAB for approximately EUR 5.5 million. PwC Legal advised Agropro and Borela.

Primus Derling has promoted Senior Associate Arturas Gutauskas to Associate Partner.

Sorainen has advised venture capital fund Open Circle Capital on its investment, made along with technology company iTo, of EUR 300,000 in business process management tool Tasker.

Cobalt's Vilnius office has advised BaltCap Infrastructure Fund on its investment in a real estate development to be leased to the Queen Morta School and Childhood Garden pre-school, both privately run by Austeja Landsbergiene. The prime contractor in the project is UAB Merko Statyba.

Sorainen Vilnius has advised venture capital fund Open Circle Capital on its EUR 400,000 investment, made with the Blue Bridge Group's managing company, into Blue Bridge Group member and CRM solutions developer Teamgate. Primus advised Blue Bridge group in the deal.

The Derling law firm in Estonia and Primus, Attorneys at Law, in Lithuania and Latvia have established a new pan-Baltic alliance, which operates in four offices across the three Baltic countries as Derling Primus in Estonia and Primus Derling in Latvia and Lithuania.

Sorainen has advised Lords LB Special Fund V on signing an agreement with the InterContinental Hotels Group regarding the management of the Holiday Inn hotel in Riga.

Sorainen has advised real estate management and development company MG Valda on the sale of the Park Town office complex in Vilnius.

The Riga and Vilnius members of the former Derling alliance in the Baltics ⎯ Kronbergs Cukste and Dominas, respectively ⎯ have replaced the former Estonian member of the alliance, the Derling law firm, with Glikman Alvin, and have rebranded as the Levin Law alliance, which they describe as "a new force in the Baltics using the combined strength of established firms."

Ellex, Allen & Overy, and Hamilton have advised Blackstone on the EUR 1 billion acquisition by a consortium of private equity funds it manages of a 60% stake in Luminor from Nordea bank AB and DNB Bank ASA. Cobalt advised Luminor on the sale.