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Sorainen has advised CPA:17 – Global on the EUR 60 million acquisition of a modern Class A central logistics facility located in Kaunas from Baltic Retail Properties IISUTI UAB (BRP) and on the signing of a long-term lease agreement with Kesko Senukai, a prominent Do-It-Yourself retailer in Lithuania and the Baltic States. Valiunas Ellex advised the seller of the facility on the deal.

Primus has announced that it advised Estonian investment firm Polaris Invest on its EUR 83.6 million cash acquisition of a 63% stake in AS Starman, a major regional telecommunications firm with business in Estonia and Lithuania, from East Capital Explorer. The transaction, which valued the company at EUR 208 million, was financed by Elisa, which also agreed to purchase Starman’s Estonian operations from Polaris for EUR 151 million in cash. Elisa was represented by Fort, with both East Capital Explorer and Starman represented by Raidla Ellex.

Fort has advised an ATRIUM group company in its EUR 12.5 million sale of the Shopping Centre Azur by means of a transfer of shares in SIA MD Galerija Azur to UAB KS Holding, a company registered in Lithuania, which is indirectly owned by Finnish trade group Kesko Oyj. Ellex advised the buyers.

Primus has announced that, after opening its Polish desk in Vilnius in August 2015, it has now launched a German Desk in the firm’s office in Riga.

Primus has advised Lithuanian company UAB Hekon, a subsidiary of Orbis S.A. — part of AccorHotels — in concluding a preliminary sale and purchase agreement with the UAB Merko Bustas construction company to build a 164-room hotel with restaurant, bar, and conference halls. The value of the transaction is EUR 8.5 million.  

Sorainen Lithuania has advised DNB Bank ASA, the largest financial services group in Norway, on the grant of a loan to Norwegian real estate development group Schage for the development of the Quadrum business center in Vilnius. According to Sorainen, "the total disclosed value of Schage’s investment in the project is EUR 100 million."

Lithuania is currently finalizing its internal debate on the transposition of Directive 2014/26/EU on the collective management of copyright and related rights and multi-territorial licensing of rights in musical works for online use in the internal market (the “Directive”), which will change the Law on Copyright and Related Rights of the Republic of Lithuania (the “Copyright Law”) and will have an enormous impact on all stakeholders: collecting societies, right holders, and users.

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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

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