Category: Estonia

Sorainen has provided pro bono legal advice for Estonian health technology startup Antegenes on the possibilities of expanding to other countries.

“For example, the health startup was facing the question if and on what conditions other European Union member states can limit the use of genetic tests across national borders. We also analyzed issues regarding the protection of personal data,” the firm informed.

Founded in 2018, Antegenes is an Estonian medical technology company, providing genetic tests designed to assess personal cancer risks.

The Sorainen team included Partner Mihkel Miidla, Senior Associate Lise-Lotte Laane, and Associate Liisa Kuuskmaa.

Sorainen has provided pro bono legal assistance to Triumf Health on the license agreement with local governments in Estonia.

Accordion to Sorainen, “with this agreement, Triumf Health has been able to license the game to Estonian schools through their local governments. Now every school that holds the license for Triumfland Saga, can enable the children to play the game and support their mental health.”

Triumf Health is a Tallin-based company, delivering behavioral therapeutics to children aged 7-12 through a mobile game aimed at improving their mental wellbeing. Triumfland Saga is an interactive game developed for children between the ages of 7-14.

“Children are bearing huge mental loads without the necessary coping skills,” Triumf Health CEO Kadri Haljas commented. “They need all the support we can possibly offer during their journey of uncertainty as they grow up. We place children in the center of their health and wellbeing for them to live healthier lives.”

The Sorainen team was led by Associate Kirsi Johanna Koistinen and included Partner Kaupo Lepasepp.

Sorainen has provided pro bono legal assistance to Estonian NGO Peaasjad on data protection and contractual issues.

According to the firm, “with this documentation, Peaasjad can move forward with their project and assist those who need help, with surety that confidentiality is ensured and data processing activities are in compliance with the GDPR.”

Peaasjad provides support on mental health and addiction issues with a team consisting of mental health and youth work specialists, consultants, and supporters from different fields.

The Sorainen team was led by Associate Kirsi Johanna Koistinen and included Partners Kaupo Lepasepp and Mihkel Miidla, and Assistant Lawyer Jurgen Adamson.

Similarly to the rest of the world, the major factor affecting every aspect of life is COVID-19, however, despite the crisis, things are going rather well in Estonia, according to Lextal Partner Kristi Sild.

“In terms of political developments, the overall situation remains quite stable. We have not witnessed any major political shake-ups, despite the existing external threats,” Sild explains. “With regards to the pandemic, the government tried to keep the public in the loop as much as possible. The country has been quite liberal with COVID-19 restrictions and, although the number of cases is fluctuating, restrictions are being adjusted accordingly. At the moment, for instance, the schools are open and individuals are allowed to work from offices.”

Sild highlights that vaccination-related regulations have impacted law firms’ activities as well. “The segregation of vaccinated and unvaccinated people has led to polarization and tensions internally,” she notes. “Even though vaccination is not mandatory as such, proof of vaccination is needed to enjoy many aspects of social life, such as going to the restaurants. We have a significant rise in the number of labor disputes due to the dismissal of unvaccinated persons. These cases are very interesting from a human rights perspective.”

Sild points out that “the economy is booming, as M&A and investment activities are very high and, overall, there is a lot of money on the market. Certain investors even ran into the problem of finding real estate assets that can be purchased.” According to her, “a significant factor contributing to the high level of economic activity was the release of pension funds.”

“This year has also been characterized by the unusually high level of IPOs, which are normally quite rare in Estonia,” she adds. “The process is frequently referred to as the ‘IPOdrome.’”

Ellex has advised Lintgen Adjacent Investments S.a.r.l. on the acquisition of the T1 Mall in Tallinn for EUR 55 million.

According to Ellex, “The bankruptcy trustees declared Lintgen Adjacent Investments S.a.r.l., the company representing the T1 shopping center’s creditors, as the winner of the T1 Mall of Tallinn auction. The T1 Mall, south of the city center, opened in 2018 but was dogged with problems even before the pandemic arrived, and was forced to declare bankruptcy in April this year. An initial auction for the property, at Peterburi tee 2 in the capital, with an asking price of EUR 85 million, drew a blank, as did a second auction with a starting price of EUR 65 million – while four parties registered for the second auction, none bid in the event.”

Ellex’s team included Partners Toomas Vaher and Risto Vahimets, and Senior Associates Marika Kutt and Alla Kuznetsova.

Ellex did not reply to our inquiry on the deal.

Former PwC Legal Estonia Head of M&A Rutt Vark will rejoin Ellex’s Estonia office as an M&A Counsel as of January 1, 2022.

According to Ellex, “Rutt has more than ten years of experience in advising on large-scale transactions and projects. She spent the past two years as head of M&A at PwC Legal Estonia.” CEE Legal Matters had previously reported on Vark’s move to PwC Legal, here.

According to the firm, “Rutt has international experience in advising on M&A transactions and project management in various fields, as well as advising on various real estate deals.”

Vark holds an LL.B. and an LL.M. from the University of Tartu. Prior to rejoining Ellex, with which she had already spent almost two years, she also spent three years with Lawin, six years with Primus, and almost two and a half years with PwC Legal.

“Rutt re-joining Ellex will take the firm to the next brilliant peak in the transaction market,” comments Head of Transactions at Ellex Estonia, Risto Vahimets. “The market is very active and we intend to further grow our team.”

Pohla & Hallmagi has advised on the reorganizing of the ownership structure of the Aparaaditehas property in Tartu, including the buyout of the financial investor and majority shareholder Lohmus Holdings AS by a group of investors.

The transaction value was not disclosed.

Pohla & Hallmagi’s team was led by Partner Toivo Viilup.

Triniti has appointed Klen Laus as a Partner with the firm’s Estonian practice.

Laus joined Triniti in 2010, as a Senior Associate. Before that, he worked at Ruus Koch & Vabamets, between 2004 and 2010, where he was promoted to Associate in 2005. Laus obtained his LL.M. from the University of Tartu’s School of Law in 2006.

According to the firm, Laus’s main fields of practice include dispute resolution, insolvency and debt recovery, labor law, corporate and commercial, and banking and finance.

“Klen’s well-balanced presence, systematic approach, extensive expertise, and ability to see the ‘big picture’ is appreciated by both his colleagues and clients,” Triniti Partner Erki Vabamets commented. “We can see that Klen joining the circle of partners will help Triniti reach a new stage in its development.”

Triniti has advised Krakul Holding on the sale of its Krakul subsidiary to Bercman Technologies. Ellex advised the buyer.

Bercman and Krakul’s parent company (Krakul Holding OÜ) concluded a conditional swap for a share of Krakul and shares of Bercman Technologies so that Bercman would acquire 100% shares of Krakul. The acquisition shall be paid for by Bercman shares.

The transaction involved a conditional share swap. Bercman will acquire all shares in Krakul, to be paid for with Bercman shares. According to Ellex, “the transaction shall be completed if Bercman’s extraordinary general meeting approves the conclusion of the transactions and permits an increase of share capital and the issuance of new shares to pay for the acquisition. Bercman’s extraordinary general meeting will take place on December 1, 2021.”

Krakul is an Estonian IoT and autonomous systems developer, offering product solutions such as stereo cameras for NASA’s lunar mission, smart insoles, smart beer bottle openers, bicycle parking systems, delivery robots, and autonomous vehicles.

Founded in 2016, Bercman Technologies is a Nasdaq First North listed company specializing in the development and sale of products and services for traffic safety.

“This is a logical step for us to grow further,” Krakul CEO Jaan Hendrik Murumets commented. “We share the same values and mission with Bercman, and their team has strong competencies in machine learning, machine vision, and strong sales organization. Unifying the two teams allows us to develop new products and services, expand into export markets, and win new customers.”

“The two companies share common goals to make the world a better place through technology,” added Bercman Technologies CEO Mart Suurkask. “Bercman develops intelligent traffic solutions, Krakul develops IoT and autonomous systems. The merger of the companies would create synergies that would allow us to jointly develop and market new services in the field of autonomous vehicles and intelligent traffic solutions.”

The Triniti team included Partner Tonis Tamme and Associate Peeter Motskula.

The Ellex team was led by Partner Gerli Kivisoo.

Walless has advised UK healthcare company Everything Genetic on its EUR 500,000 investment into and strategic partnership agreement with Estonian health technology company Antegenes. Myerson Solicitors reportedly advised Everything Genetic on English law.

According to Walless, Everything Genetic is a market-leading genetic test brands distributor on the UK market, aiming to democratize genetic testing to healthcare providers and patients for the detection, diagnosis, and treatment of cancer, cardiac, and other illnesses.

Founded in 2018, Antegenes is a registered healthcare service provider of medical genetics, oncology, and laboratory services.

“Genetic testing for cancer has until now been the preserve of an exclusive few, only available in private clinics with costs running into the thousands, but this new investment into the Antegenes service will deliver a cost-effective way to bring down the cost of this novel tech,” Everything Genetic CEO James Price commented.

“We are very excited for our strategic partnership with Everything Genetic for the wider application of our tests within the UK healthcare sector,” added Antegenes CEO Peeter Padrik. “This is a historic step as we enter a new era of personalized cancer prevention. Most importantly, we have a clear shared vision of how innovative genetic solutions can help save lives and reduce the impact cancer has on our society.”

The Walless team included Partner Hannes Vallikivi and Associate Kaisa Saarmann.