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Cobalt and TGS Baltic Advise on KJK Sports Purchase of Baltic Bicycle Trade

Cobalt and TGS Baltic Advise on KJK Sports Purchase of Baltic Bicycle Trade

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Cobalt Lithuania has advised KJK Sports on its acquisition of 100% of the shares of Baltic Bicycle Trade UAB from Denmark's Asgaard A/S and Lithuania's Litcapital I. TGS Baltic advised Asgaard and Litcapital I on the sale, which remains contingent on competition clearance and is expected to close in the third quarter of 2019. 

KJK Sports is a Luxembourg-based sporting goods holding company focused on the active outdoor sporting goods segment with existing investments in Elan d.o.o., Tahe Outdoors, and Leader 96.

KJK Sports is supported by KJK Management, an independent partner-owned asset manager focused on servicing the needs of institutional investors. KJK’s network covers eight offices across Europe.

Baltic Bicycle Trade, founded in 2002, is in a parent company of Baltik Vairas, which is based in Siauliai, Lithuania. Baltic Bicycle Trade develops, manufactures, sells, and distributes electric bicycles. The company also offers wholesale and retail sales of Panther-branded bicycles. 

Earlier this year, Cobalt advised KJK Sports on the acquisition of a 50% stake in Tahe Outdoors (as reported by CEE Legal Matters on January 21, 2019).

The Cobalt team was led by Partner Irmantas Norkus and included Associate Julija Timoscenko.

The TGS Baltic team was led by Partner Aurimas Pauliukevicius.

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

All News about Cobalt can be found here.


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