Cobalt has advised the Baltic Green Fund on its acquisition of a 7,000-hectare forest area from Isnaudas Forest Holding’s Latvian subsidiaries. Sorainen reportedly advised the seller. Delphi reportedly advised Baltic Green on the Swedish law-related aspects of the transaction.
According to Cobalt, the acquired forest has a total area of 7,000 hectares and is located in Latvia's Rezekne region. The transaction also included financing from Citadele Bank, providing the Baltic Green Fund with a loan of EUR 18 million for the acquisition.
The Baltic Green Fund is a forestry investment fund managed by I Asset Management. Operating since 2019, the fund specializes in the forestry sector.