Eversheds Sutherland Bitans in Latvia and Eversheds Ots & Co in Estonia have represented the Republic of Estonia (in the form of the Estonian Road Administration) in connection with the recognition and enforcement of an Estonian arbitral award in Latvia against a prominent Latvian road construction company, recovering EUR 4.6 million for their client in the process.
Sorainen Estonia has advised NEFCO, an institution established by the five Nordic countries to finance green investment projects in Eastern Europe, on its subscription agreement with BaltCap for a EUR 3 million equity investment in the EUR 100 million BaltCap Infrastructure Fund, which will focus primarily on investments related to renewable energy, energy efficiency, and transport, as well as social infrastructure projects in Estonia, Latvia, and Lithuania. BaltCap was advised by the Deca Legal law firm.
Cobalt has advised Deutsche Bank, Goldman Sachs International, and Societe Generale in relation to a dual-tranche Eurobond transaction by the Republic of Latvia in an aggregate amount of EUR 350 million. The transaction completed Latvia’s financing requirement for 2017 in the international capital markets.
Cobalt Latvia, working alongside US counsel Fenwick & West, has advised visual presentation platform Prezi in its acquisition of Infogram, a web-based data visualization company in Latvia. Infogram was advised by Dottir Attorneys in the United States. This is Prezi’s first acquisition and the value of the deal is confidential.
The 2017 CEE Legal Matters General Summit took place at the Intercontinental Hotel in Warsaw on June 1-2, 2017, once again bringing together well over a hundred General Counsel and Heads of Legal from across Central and Eastern Europe for two full days (and one entertaining evening) of seminars, panel discussions, best practices review, and networking. This year’s event — the third annual, following the 2015 GC Summit in Budapest and the 2016 GC Summit in Istanbul — was the biggest and most successful yet.
On May 31 and June 1, 2017, CEE Legal Matters was proud to host a rare event: A gathering of those senior lawyers from each Central and Eastern European country identified by peers as being most influential, most important, most uniquely responsible for having created the country’s modern commercial legal market.
Sorainen advised CPA:17-Global on the acquisition of a 70% position in a joint venture with Baltic Retail Properties. The portfolio includes eighteen retail stores and one logistics facility in locations throughout Lithuania, Estonia, and Latvia. The assets are leased on a long-term basis to Kesko Senukai, a prominent do-it-yourself retailer in the Baltic States.
The Latvian office of TGS Baltic has assisted AS DNB Banka and its group companies during the insolvency proceedings of a debtor and in related legal proceedings, resulting in partial settlement of the claims and the takeover of the real properties pledged as security for the loan by a company in the DNB Banka group.