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Cobalt and Triniti Advise on Idex Acquisition of Majority Stake in Danpower Baltic

Cobalt and Triniti Advise on Idex Acquisition of Majority Stake in Danpower Baltic

Lithuania
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Cobalt has advised the shareholders of Danpower Baltic on the sale of 50% of their shares to French renewable energy group Idex — a subsidiary of  Antin Infrastructure Partners. Idex bought another 40% of Danpower Baltic shares from UAB GECO Investicijos, which retains its 10% stake in the company. Triniti advised Idex on the deal.

The value of the transaction was not disclosed.

Over its five years of operations, Germany's Danpower has invested around EUR 100 million in Lithuania. The company operates six biofuel boiler-houses and a cogeneration plant in the Lithuanian cities of Vilnius, Kaunas, and Joniskis.

French renewable energy group Idex, was founded in 1963. The Idex Group operates 60 biofuel boiler facilities and 16 waste-to-energy plants. The company, which was acquired by Antin in 2018, posted EUR 929 million in revenue for 2018.

Cobalt's team included Partner Elijus Burgis and Associate Julija Timoscenko.

Triniti's team included, among others,Partners Linas Sabaliauskas and Vytautas Kalmatavicius, Associate Partners Giedre Ciuladiene and Agne Varneliene.

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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