Sorainen has advised Via Payments, part of the VIA SMS Group, on obtaining an e-money institution license from the Bank of Lithuania.
Money laundering and corruption are closely related; therefore, they should be tackled systemically. Lithuania’s setting in these areas is rather ambiguous – it is ranked among the top performers when it comes to an anti-money laundering regime and its effectiveness, but it performs worse than EU average when it comes to the perception of corruption (Lithuania was ranked 38th in the Global Corruption Perceptions Index reported by Transparency International in 2016).
Sorainen, working alongside global lead counsel Jones Day, is advising Owens Corning on its acquisition of the Paroc Group, a European producer of mineral wool insulation for building and technical applications. The total disclosed value of the acquisition of Paroc Group facilities in Finland, Lithuania, Poland, Russia, and Sweden is EUR 900 million. Finland's Avance Attorneys advised the sellers.
Ellex Raidla and Cobalt have worked alongside Taaleri Capital in advising the management of Oriola Baltic in their August 14, 2017 buyout of the company's five Baltic subsidiaries, the reorganizing of the subsidiaries in Estonia, Latvia, and Lithuania under a new Latvian parent company, SIA Oribalt Group, and the transaction financing.