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CMS Advises on Polish Investment in Lithuania's UAB EMP Recycling

CMS Advises on Polish Investment in Lithuania's UAB EMP Recycling

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CMS has advised Poland's PFR TFI on an investment in Lithuania's UAB EMP recycling.

As part of the transaction, Foreign Expansion Fund, Closed-End Investment Fund of Non-Public Assets (FEZ FIZAN), which is managed by PFR TFI, took over 49% of shares in the company from Elemental Holding S.A., a Polish capital group that operates in the recycling industry in a number of countries in Central and Eastern Europe, as well as in Germany, Finland, the United Kingdom, Turkey, and the Middle East.

The Foreign Expansion Fund was established in order to help Polish companies invest in foreign projects. The Fund provides co-financing for foreign subsidiaries belonging to Polish companies. Polish companies may take advantage of financing in the form of capital, mezzanine financing and loans secured by assets of a foreign project, without recourse to the Polish company. The time horizon for the Fund’s investments is tailored to the specific features of a project and usually ranges from five to seven years. 

According to CMS, "the transaction will enable Elemental Holding group to allocate the funds obtained to planned acquisitions and further development. Elemental Holding will continue to manage the Lithuanian company, which constitutes an important element of the creation of a strong recycling group in Central and Eastern Europe and the Baltic States."

The CMS team included Partner Jakub Marcinkowski, Senior Associate Olga Czyzycka, and Lawyer Michal Sowinski.

Editor's Note: After this article was published CEE Legal Matters learned that Cobalt assisted CMS on Lithuanian matters related to the Polish Foreign Expansion Fund's acquisition. The firm's team was led by Partner Juozas Rimas and included Associate Mantas Juska. In addition, legal advice on the seller side was provided in-house by Maria Janicką, Head of Legal at Elemental.

 

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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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