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Amazingly, the Lithuanian FinTech ecosystem report of 2018 revealed that there were 170 FinTech companies based in Lithuania – reflecting 45 percent growth over the previous year – with some 2,600 employees working in FinTech companies, more than 700 of which were newly-employed in 2018. The numbers are still growing this year.

Sorainen and Linklaters are advising the Ministry of Finance of Lithuania, the European Commission, and the EBRD on an EC-funded project aimed to promote green investment in Lithuania. The project is funded via the Structural Reform Support Programme in collaboration with the European Commission Structural Reform Support Service.

Cobalt has advised the shareholders of Danpower Baltic on the sale of 50% of their shares to French renewable energy group Idex — a subsidiary of  Antin Infrastructure Partners. Idex bought another 40% of Danpower Baltic shares from UAB GECO Investicijos, which retains its 10% stake in the company. Triniti advised Idex on the deal.

Former Wolf Theiss Poland Co-Managing Partner Ron Given has joined Deloitte Legal as its CE Senior Legal Counsel, responsible for all of the firm’s offices in 19 Central and Eastern European countries.

Although the General Data Protection Regulation 216/679 (the GDPR) has been in force for more than a year, the concept of data protection by design (Art. 25) is still largely underestimated and insufficiently implemented into software products and their development processes in Lithuania. Developers of data-rich technologies still disregard or misinterpret this duty despite its business benefits. This is especially true for new technological products which strive for steady and continuous increase in user numbers but lose their grip with user privacy on the way.

Sorainen's Estonian and Lithuanian offices have advised Nordea Bank and DNB on financing they provided to the Luminor Group to develop Luminor’s lending activities and group liquidity buffers and to refinance existing debt. Cobalt advised Luminor on the deal.

Primus Derling has advised GrECo International Holding AG on the acquisition of an 80% stake in Uzdaroji Akcine Draudimo Brokeriu Bendrove Sagaut, an insurance and reinsurance brokerage company operating in Lithuania. SPC Legal reportedly advised Sagaut on the deal.