Eversheds Sutherland Ots & Co has advised Apax Partners and Media Investments & Holding OU on the acquisition of the Baltic Classifieds Group, a portfolio of online classified advertising platforms in the Baltics. The transaction is expected to close by July 2019.
Motieka & Audzevicius has advised YNOT Media on the acquisition of FCR Media Lietuva, the Lithuanian division of the FCR Media Group, a company owned by BaltCap which operates in the market of advertising services and business information dissemination through digital channels. SPC Legal advised the sellers on the deal on the deal.
“There was a very big scandal few weeks ago that involved top Lithuanian judges getting detained in an anti-corruption crackdown,” says Metida Partner Erikas Saukalas, referring to the eight judges from the country’s Regional Court, Court of Appeal, and Supreme Court who were arrested at the end of February. The arrests were apparently made, Saukalas reports, following the discovery that the judges had accepted bribes ranging from EUR 1000-100,000 in criminal, civil, and administrative cases. Saukalas describes the case as “a huge disappointment for our society.”