Cobalt has advised Silberauto on the sale of its enterprises in Estonia and Lithuania to Scandinavian vehicle dealer Veho. Ellex advised Veho on the deal.

Cobalt has helped inHouse Pay AS obtain an e-money institution license from the Estonian Financial Supervision Authority to issue electronic money and provide various payment services.

Walless has advised the Baltic Horizon Fund on its EUR 20.7 million acquisition of the North Star business center in Lithuania from the UAB Prosperus Strategic RE Fund. Cobalt reportedly advised the Prosperus Strategic RE Fund on the deal.

“The Lithuanian legal market is really in a good moment,” says Cobalt Managing Partner Irmantas Norkus.

In late 2018, the Competition Council of the Republic of Latvia published the final report on its most recent in-depth sector inquiry on the distribution practices of reimbursed medicines on the wholesale market and potential competition restrictions therein. The sector inquiry had lasted for almost two years, during which the Competition Council gathered information from both the public and the private sectors, approaching seven producers, twelve wholesalers, and several public institutions, such as the State Agency of Medicines and the Health Inspectorate, among others. Although the Competition Council proclaimed that the main goal of the sector inquiry was to analyze potential competition restrictions on the wholesale market, which could be apparent because of the vertical integration of wholesalers and leading pharmacy chains and the exclusivity status of the wholesalers, no infringements proceedings were initiated as a result. Notwithstanding the lack of subsequent infringement proceedings, however, some crucial conclusions were drawn.

With the June 7, 2019 initiation of the draft Patient Insurance Act, the Estonian Ministry of Social Affairs has achieved an important milestone in the development of the Estonian health care system. This draft act marks a principal change towards the creation of a patient-centric health care system, which will have a major effect on patients, health care service providers, health care professionals, insurance companies, and society at large.

Cobalt has advised M.M.M. Projektai, a real estate development and investment group operating in Central and Eastern Europe, on its acquisition of real estate at Brivibas Gatve 201 in Riga from RE Property SIA.

Dentons and Cobalt have advised Latvia's airBaltic airline on its July 23, 2019 placement of 200 million euro issue 6.75 percent 5-year bonds — the largest corporate bond issuance ever originating from Latvia. Linklaters advised J.P. Morgan as global coordinator and it andSEB as joint bookrunners.

Cobalt has advised Practica Capital on its investment in startup Oxipit. The EUR 1.5 million seed round was co-led by Practica Capital, Koinvesticinis Fondas and various business angels. Sorainen advised Oxipit on the deal.

Cobalt has advised Karma Ventures on a series A round investment in Estonia's Xolo. Eversheds Sutherland Ots & Co advised Xolo on the deal.

Walless has helped Vilniaus Baldai get a parallel loan of EUR 37.8 million from the EBRD and AS Citadele Banka's Lithuanian branch. Cobalt advised the lenders on the deal.

Cobalt Lithuania has advised KJK Sports on its acquisition of 100% of the shares of Baltic Bicycle Trade UAB from Denmark's Asgaard A/S and Lithuania's Litcapital I. TGS Baltic advised Asgaard and Litcapital I on the sale, which remains contingent on competition clearance and is expected to close in the third quarter of 2019. 

Head of Competition Law Rasa Zasciurinskaite has become the 13th partner and Head of Commercial Disputes Marius Inta has become the 3rd Associate Partner at Cobalt in Lithuania.

Cobalt has advised UAB Veju Spektras, a company managing 21.5 MW wind farm in Silute, Lithuania, on the sale of 100% of its shares to Quaero European Infrastructure Fund, managed by the Swiss company Quaero Capital.

Cobalt has successfully represented the Central Election Commission of Latvia before the Latvian Administrative District Court in a case regarding the cancellation of 2019 EP election results.

Cobalt has advised Karma Ventures as a lead arranger on its USD 3.65 million investment in Infermedica, a provider of artificial intelligence technology solutions for healthcare companies.

Cobalt has helped UAB Wittix obtain an electronic money institution license for unrestricted activity.

Cobalt has advised AB SEB Bankas on arranging the EUR 70 million notes issue program of AS Attistibas Finansu Institucija Altum and issuance of EUR 15 million notes with a yield of 0.95%.