Cobalt has advised the UAB 3 RILL business management consulting company on the acquisition of one third of the shares in UAB Putoksnis — a leading manufacturer of PET pre-forms and PET containers in the Baltic States — from the LitCapital venture capital fund. Glimstedt advised LitCapital on the deal. In the process UAB 3 RILL gained sole control of the company. LitCapital had acquired its shares in Putoksnis acquired in 2011.
Putoksnis, which was established in 1994, currently operates PET pre-form and PET container manufacturing plants in Lithuania and exports its production to countries in Western Europe and CEE, CIS, and Scandinavia.
Cobalt drafted transaction documents, represented 3 RILL in negotiations, provided legal assistance with the structuring and financing of the transaction, obtaining merger clearance from the Competition Council and provided support on all transaction-related matters. The firm's team was led by Vilnius-based Partner Elijus Burgis and Senior Associate Eva Suduiko.
Associate Partner Andrius Ivanauskas led the Glimstedt team on the deal.