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Cobalt and TGS Baltic Advised on Fonterra Investment in Lithuanian Dairy Company

Cobalt and TGS Baltic Advised on Fonterra Investment in Lithuanian Dairy Company

Lithuania
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Cobalt has advised Lithuanian dairy company AB Rokiskio Suris on the acquisition of 10% of its shares — valued at more than EUR 7 million — by global dairy giant Fonterra. TGS Baltic advised Fonterra on the deal.

Fonterra is a New Zealand-based dairy company uniting more than 100 000 dairy farms and co-operatives, with EUR 14 billion in annual revenue and net profit in excess of EUR 700 million in the past financial year. Fonterra is the world’s largest exporter of dairy products.

“We see the strategic investment by a global company, which it confirmed after its lengthy scrutiny across the East European market, as a sign of trust both in us as a business partner and the Baltic market alike,” commented Dalius Trumpa, Chairman of the Board of Rokiskio Suris. Trumpa also noted that Fonterra is the first strategic rather than financial investor in the history of Rokiskio Suris, which will make long-term results and sustainable development a priority.

To implement the investment, Rokiskio Suris issued 3.586 million new ordinary registered shares, constituting 10% of the company’s investment capital. The agreed share issue price was equal to EUR 7.1 million, at EUR 1.98 per share.

The Cobalt team drafting the share purchase agreement and other transaction documents, representing Rokiskio Suris in negotiations, and advising on other transaction-related matters, consisted of Lithuania Managing Partner Irmantas Norkus, Partner Juozas Rimas, and Senior Associate Inga Mazvilaite.

The TGS Baltic team advising Fonterra included Partner Marius Matonis, Associate Partner Dalia Tamasauskaite-Ziliene, and Associate Giedrius Svidras.

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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