Cobalt has advised Lithuania’s second largest television and Internet services provider, UAB Cgates, on its acquisition of telecommunications company Splius. CEE Attorneys advised the shareholders of Splius on the transaction, which remains subject to the approval of the Lithuanian Competition Council. The transaction value was not disclosed.
Splius is a provider of TV and Internet services in northern and western Lithuania. UAB Splius and VsJ Siauliai plius are part of Splius group, which has been operating for more than 20 years. According to Cobalt, with the acquisition of Splius, Cgates will add 90 thousand new customers. Cgates now provides Internet, TV, and telephone services to more than 250 thousand customers across Lithuania.
Cobalt’s team was led by Partner Juozas Rimas and included Senior Associate Inga Mazvilaite.
The CEE Attorneys team consisted of Partner Inga Kostogriz-Vaitkiene and Junior Associate Ieva Zablackaite.