Cobalt has advised Lithuanian invoice financing company UAB Debitum Fori, operating under the trade name Debifo, on the sale of the company to Dutch factoring company Factris. TGS Baltic advised Factris on the acquisition.
This acquisition was financed by Speedinvest and Optima Investments.
According to Cobalt, "Factris focuses on simplifying the business finance process, ensures the stability and reliability of funding, and continuously expands its partner network in Europe." The firm reports that in December 2018, Factris signed a EUR 100 million credit line agreement with Swiss investment company Ruvercap. These funds will be used to finance the working capital of European small and medium-sized enterprises.
The Cobalt team was led by Partner Juozas Rimas and included Partner Rokas Daugela and Associate Lawyer Justinas Kondratas.
TGS Baltic’s team consisted of Partner Dalia Tamasauskaite - Ziliene, Junior Associate Goda Drasute and Trainee Paulius Dabulskis.