Cobalt has advised the BaltCap Latvia Venture Capital Fund and other shareholders on their sale of Vendon to Azkoyen. Garrigues reportedly advised the buyer.

Cobalt has advised Asuntosalkku on its listing to the Nasdaq First North Growth Market in Finland. Bird & Bird reportedly also advised Asuntosalkku.

Cobalt has advised vehicle parts distributor Meko on its EUR 122 million acquisition of spare parts and services provider Koivunen.

Cobalt has successfully represented AirBaltic and the Riga International Airport before the Supreme Court of Lithuania against antitrust claims brought by bankrupt carrier FlyLAL.

Cobalt has advised Hepsor on its EUR 3.6 million acquisition of the 30,624 square-meter Ganibu Dambis 17A commercial property in Riga from unidentified sellers.

Stable markets and an increase in start-up and tech sector professionals are looking good for Lithuania right now, but there are some standing hurdles within competition regulations that could stifle the free movement and growth of business, according to Cobalt Partner Elijus Burgis.

CEELMDirect Profile Pick: A series of interviews with partners and firms with Premium profiles on the CEELMDirect online legal directory. Today’s interview: Krists Berzins, Head of Marketing & Communications at Cobalt Latvia.

Cobalt has successfully represented Food Union group company Rigas Piena Kombinats in a court dispute against a former employee regarding the invalidation of the termination notice and the recovery of unpaid wages.

Cobalt has advised real estate developer VPH on the development of a shopping complex on the site of the former Riga Dairy Factory, in the center of Riga, with a total investment of up to EUR 40 million.

Cobalt has successfully represented Eolus Vind subsidiary Pienava Wind before Latvia's Administrative Regional Court in a dispute against the Tukums Municipality for the approval of the construction of a 22-turbine wind farm.

Cobalt has advised Latvenergo AS on its issuance of EUR 100 million five-year green bonds with a fixed annual interest rate and a yield to maturity of 2.42%.

Sorainen has advised Reiterate on raising EUR 1.25 million in a pre-seed round led by Hummingbird Ventures. Cobalt advised Hummingbird on the deal.

Cobalt has advised Lithuanian financial technology start-up Kevin on raising USD 65 million in a Series A funding round. Sorainen advised investor Global PayTech Ventures.

Stratulat Albulescu has advised Al start-up Druid on its USD 15 million series A financing round led by Karma Ventures and Hoxton Ventures. Cobalt advised Karma Ventures. Orrick Herrington & Sutcliffe reportedly advised Druid as well. Hoxton was reportedly advised by Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.

Sorainen has advised the Lords LB Baltic Fund III on the share-deal sale of a shopping center in Klaipeda to the Union RE Core Fund I. Cobalt advised the buyer.

Cobalt has advised Avena Nordic Grain on the sale of its Estonian and Lithuanian grain trade businesses to the Scandagra Group. Walless advised Scandagra on the deal.

Former Specialist Counsel Edgars Lodzins has become a Partner in Cobalt’s Latvia office.

The initially planned major changes to the security interest regime in Lithuania, which would remove notarial certifications of mortgage/pledge, have not materialized. However, certain amendments to Lithuanian laws governing security interests will enter into force from January 1, 2022.