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Cobalt Advises Banks on Syndicated Loan for Development of Vakaru Medienos Grupe

Cobalt Advises Banks on Syndicated Loan for Development of Vakaru Medienos Grupe

Lithuania
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Cobalt has advised the EBRD, Swedbank, and Citadele Bank on their provision of a EUR 86 million syndicated loan to UAB Vakaru Medienos Grupe in Lithuania.

The EBRD will provide EUR 20 million, Swedbank EUR 36 million, and Citadele will provide EUR 30 million. According to Cobalt, "the allocated funds will be used to finance a particleboard plant built in the Naujoji Akmene Free Economic Zone. This project will allow to fully meet the need for particle board in Lithuania and to generate greater added value in the areas of structural wood and furniture. VMG Group is a company specializing in wood processing, business management, technical maintenance, logistics, development of industrial real estate in Lithuania, Belarus, and other countries of the European Union. VMG Group consists of 16 companies operating in Lithuania and foreign countries and employing over 3900 people. The products manufactured by the companies of the group are exported to 11 countries in the EU, USA, Middle East, India, China, and Australia."

Cobalt's team consisted of Partners Elijus Burgis and Eva Suduiko, Senior Associate Lina Aleknaite van der Molen, and Associate Liucija Bitinaite.

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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