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TGS Baltic and Dentons have advised Ignitis group on the approval of its renewed EUR 1.5 billion medium-term debt securities program and EUR 300 million bond issuance. Clifford Chance and Walles advised intermediaries BNP Paribas, Citi, J.P. Morgan, and Luminor bank.

The Lithuanian life sciences industry has skyrocketed over the last two decades – the average annual growth within the biotechnology and pharmaceutical research and production sector reached over 19%, with 90% of its output exported. in 2017 Lithuania reached 16th place in the Scientific American Worldview biotechnology rankings. Lithuania dominates many (much) larger Central and Eastern European countries and boasts the fastest growing life science industry in Europe.

On April 30, 2020, CEE Legal Matters reported that Motieka & Audzevicius had advised the founders of Lithuania's In Balance Grid on the investment of EUR 950,000 into the company by Koinvesticinis Fondas, Contrarian Ventures, and several angel investors. We spoke with Simonas Stankus, Co-Founder & CEO of In Balance Grid, to learn more about the investment round.

Sorainen has advised Nitin Shelke, the founder and chairman of Growmore Group, on its acquisition of Medicinos Bankas, a retail bank in Lithuania with USD 395 million in assets, from Konstantinas Karosas and Western Petroleum Limited. The sellers were advised by TGS Baltic.

Governments in each of Baltic countries has adopted a special temporary laws on measures for companies to manage the consequences of the spread of coronavirus. See summarized legislation amendments concerning support to enterprises and tax solutions which were implemented by Latvia, Lithuania and Estonia.

On April 7, 2020, CEE Legal Matters reported that Motieka & Audzevicius had represented big data company Oxylabs in its successful appeal of a dismissal of an IP rights infringement dispute for lack of jurisdiction in Lithuania. We spoke with Urte Karkliene, Legal Counsel at Oxylabs, to learn more about the case.

Sorainen has advised joint lead managers BNP Paribas, Citi, and Erste Group on a dual-tranche Eurobond issue by the Republic of Lithuania – a 5-year Eurobond of EUR 750 million face value and a 10-year Eurobond of EUR 1 billion 250 million face value. The issuance is aimed at improving the liquidity of Lithuania’s treasury.

Triniti has helped Eddy Travels, a Lithuanian startup developing an artificial-intelligence-based digital travel planning assistant, to raise an additional EUR 600,000 to complete an approximately EUR 1.1 million early-stage funding round. Lead investor KUB Open Circle Capital was advised by Sorainen.

Lithuanian Knowledge Partner

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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