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Cobalt Advises Didi Chuxing on Investment in Estonian-based Transport App Taxify

Cobalt Advises Didi Chuxing on Investment in Estonian-based Transport App Taxify

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Cobalt Estonia advised ride-hailing platform Didi Chuxing on its investment in Estonian-based transport app Taxify.

Taxify has over 2.5 million customers in 18 countries. It has attracted EUR two million of venture capital investments.

According to DiDi Founder and CEO Cheng Wei, the investment, which is part of a broader strategic partnership, will help link up transport services in Asia with those in Europe and Africa. DiDi, which serves 400 million users across a variety of services in China, said it will help Taxify to grow its presence and to develop AI-powered transportation products in its regions.

Cobalt reports that it "advised Didi Chuxing in all legal aspects of the transaction, including legal due diligence, drafting the transaction documents, represented investor during negotiations and advised on other transaction related matters." The firm's team was led by Specialist Counsel Ott Aava, Partner Martin Simovart, and Senior Associate Karl Kull.

Editor's Note: After this article was published, CEE Legal Matters learned that a Njord team consisting of Partner Anne Veerpalu and Associate Siiri Traat-McClelland had advised Peaksjah OU — one of the first business angels of Taxify — on the deal, and that a Hedman Partners team consisting of Partners Valter Vohma and Dmitri Tsimpoaka, Associate Toomas Seppel, and Junior Associate Henrik Trasberg had advised Taxify.

Estonian 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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