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Cobalt Advises Agrosfera on Sale of Shareholding in UAB ICOR

Cobalt Advises Agrosfera on Sale of Shareholding in UAB ICOR

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Cobalt has advised Agrosfera UAB and its Estonia-based shareholder Agromeril on the purchase of an additional share issue of Agrosfera UAB by ICOR. 

The value of the transaction was not disclosed. Following closing, which at the moment remains subject to merger clearance from Lithuania's Competition Council, ICOR will control 60% of the shares in Agrosfera UAB. The remaining 40% of the shares and management of the company will be retained by the existing shareholders.

Founded in 2009, UAB Agrosfera is a Lithuania-based company trading in agricultural commodities and specialised in buying cereals from farmers.

According to Cobalt, ICOR, which started its activities in 1990, is among the largest groups in the region. The ICOR group has about 70 companies operating in four main business areas: utilities; industry and energy; real estate; and oil and oil products.

Cobalt assisted the shareholders of UAB Agrosfera in negotiations regarding the share issue and other documentation and advised the company on all transaction-related matters. The firm's team included Partner Akvile Bosaite, Senior Associate Elena Vegelyte, and Associate Evaldas Petraitis.


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