Cobalt has advised Latvian construction equipment rental company Storent Holdings on a new bond issuance, which raised EUR 8.7 million for notes with a 10% interest rate.

Did you know that the early 2024 deal leaderboards are already available via the Activity Rankings function of the CEELMDirect website?

Cobalt has advised the owners of Lithuanian wood pellet manufacturer Granulita on the sale of the company to Zalvaris. PwC Legal advised the buyers.

Cobalt has advised Latvian national carrier AirBaltic on its agreement with UPB Nams for the construction of the Baltic Cargo Hub at the Riga Airport, as well as on the related agreements with Riga Airport and design and construction agreements.

TGS Baltic, working with Baker McKenzie and Accura, has advised Mitsubishi on its acquisition of a 20% stake in Denmark-based European Energy through a EUR 700 million investment.

Cobalt has advised Baltic real estate developer Capital Mill on the sale of its 3.3-hectare industrial property located at Granita Iela 17, in Riga, to Proks Capital in a share transaction.

Wolf Theiss and Cobalt have advised Accession Capital Partners Credit on a EUR 10 million credit facility granted to Mogo IFN.

Cobalt has advised the ERB Rail JV consortium – formed by France's Eiffage Genie Civil, Poland's Budimex, and Italy's Rizzani de Eccher – on the public procurement process and the EUR 3.7 billion contract for the construction of the Rail Baltica mainline in Latvia with SIA Eiropas Dzelzcela Linijas.

While Lithuania’s fintech sector has emerged as a European powerhouse, the number of licensed companies has been decreasing, indicating a shift towards a more quality-focused approach. Cobalt Partner Akvile Bosaite, Motieka Head of Financial Services and Compliance Sigita Zavisiene, and Walless Partner Joana Baublyte-Kulviete take stock of the sector.

An in-depth look at Dace Silava-Tomsone of Cobalt covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.

Lithuania’s tax system underwent a major overhaul in 2004 when the country joined the European Union. For almost two decades, its evolution has been slow-paced – one could even call it cosmetic.

Amendments to the Latvian Taxes and Duties Law came into effect on June 30, 2023. The aim of these amendments was to enhance the efficiency of the tax control system.

It was another strong year for the leading law firms in Central and Eastern Europe, which, combined, worked on over a thousand deals and other client matters across the region reported on by CEE Legal Matters this year. According to the Activity Rankings function of the CEELMDirect website, Clifford Chance, which worked on an impressive 95 CEELM-reported CEE client matters in 2023, led the international firms in the region, with Schoenherr, which worked on 90, close behind. Dentons (82), CMS (71), Wolf Theiss (65), Cobalt (66), Kinstellar (50), White & Case (45), and Allen & Overy (42) took notable places on the leaderboard as well.

Cobalt has advised Warmeston on its EUR 32 million acquisition of the Broceni cogeneration plant and pellet factory in Latvia from Enefit Green. TGS Baltic advised Enefit Green.

Squire Patton Boggs and 42Law have advised Inven Capital on co-leading the EUR 8.5 million series A investment round of Hydrogrid, alongside Karma Ventures. Cobalt advised Karma Ventures. Herbst Kinsky advised Hydrogrid.

Cobalt has advised Luxembourg-based investment fund Marguerite on the closed sale of its 28.97% stake in Latvijas Gaze to Energy Investments following the fund's successful divestments of the regulated assets of Latvijas Gaze.

Cobalt has advised Eco Baltia on its second EUR 10 million issuance of three-year bonds, conducted as a private placement with arranger Luminor Bank and distributor Siauliu Bankas. Eversheds Sutherland was the bondholders' trustee.

On November 3, 2023, Cobalt announced that Ignitis Renewables' acquisition of a wind farm in Kelme, Lithuania, from E Energija (reported by CEE Legal Matters on July 4, 2023) had closed.