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Cobalt Represents SEB Bank in Financing for Development of Klaipedos Smelte

Cobalt Represents SEB Bank in Allocating EUR 80 million Financing for Development of Klaipedos Smelte

Lithuania
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Cobalt, working with Linklaters in Poland, Homburger in Switzerland, and Arendt & Medernach in Luxembourg, is representing SEB Bank in allocating EUR 80 million financing for the development of Lithuania's joint-stock stevedoring company Klaipedos Smelte. Allen & Overy is reportedly advising Klaipedos Smelte.

This is the third stage of the Klaipedos Smelte investments financed by SEB Bank since 2012.

According to Cobalt, "these investments will focus on two large STS (Ship-to-Shore) cranes for loading and unloading of container vessels, also on 10 RTG (Rubber-Tyred Gantry) cranes for loading/unloading of containers on/from trucks at the terminal, and on the development of the company‘s leased port area infrastructure. The development work has already started, [and] the company [is investing] its own funds as well."

“We have noticed that for over the last ten years container handling in the Baltic region has been growing faster than in Europe, but it was not typical for the Klaipeda Seaport," says Vilius Juzikis, member of the Board of SEB Bank, and Director of Business Banking. "The port of our country was characterized in Europe by the growth of bulk cargo flows. With the investment by Klaipedos Smelte in container handling, Klaipeda port should catch up where it has lost its position. Furthermore, the financing of Klaipedos Smelte will help to increase the company’s competitiveness in the region and make a positive impact not only on the entire Klaipeda port, but also on Lithuania’s economy." 

The Cobalt team preparing and reviewing contracts and other related documents, preparing a legal opinion, and providing general advice on funding includes Partner Elijus Burgis and Associate Partner Eva Suduiko.

The Linklaters team included Warsaw-based Counsel Adrian Horne and Associate Piotr Hurkała.

Lithuanian 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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