Cobalt Lithuania has advised PVA European Refreshments, a company operating in the Republic of Ireland, on its acquisition of half of the shares in UAB Neptuno Vandenys from the soft drinks producer UAB Coca-Cola HBC Lietuva. The deal, valued at almost EUR 10 million, was subject to merger clearance from the EU Commission.
UAB Coca-Cola HBC Lietuva has owned shares in UAB Neptuno Vandenys since the end of 2015.
Cobalt drafted the transaction documents, provided legal support in connection with the filing of the notification of a concentration with the EU Commission (together with Cleary Gottlieb), and assisted the client with other transaction-related matters. The Vilnius-based team was lead by Managing Associate Maksimas Saveljevas, with significant contributions by Managing Associate Ieva Sodeikate and Associate Mantas Juska.