Category: Estonia

Sorainen has advised Forus Grupp on the acquisition of Tulika Takso from Tulika Grupp. Nove advised the seller.

Forus Grupp is a real estate maintenance and security services provider. Tulika Takso is the oldest operating taxi company in Estonia.

According to Sorainen 200 vehicles and specialists from Tulika Takso are being added to Forus Grupp’s machine park as a result of the deal.

According to Nove, “Tulika Takso, Maksitakso, Tulika Premium, Airport Taxi, and Wheelchair Taxi will continue to offer taxi services under the existing brands. Mati Saar, the founder and manager of Tulika Takso, will continue to manage Tulika Takso even after the transaction is completed.”

Sorainen’s team included Partner Piret Jesse, Counsel Pirkko-Liis Harkmaa, Senior associates Robin Teever and Olivia Kranich, Associates Andra Grunberg, Kadri Puu, and Krista Severev, and Legal Assistant Eva Lennuk.

Nove’s team included Partner Veikko Puolakainen and Attorneys Triin Tiru and Laura Raadik.

On a pro bono basis, Sorainen has represented victims of the Lihula shooting incident, by submitting a civil claim for damages.

The Lihula incident saw two killed and several injured. According to Sorainen, “on June 6, 2020, a 32-year-old man fired shots at strangers, killing two and injuring three, in Lihula, Parnu County, Estonia. [Sorainen] submitted civil claims for damages on behalf of the family of victims who were in a car that the man shot at, killing one of the passengers and injuring three more people, including two young children.”

Furthermore, according to Sorainen, “on May 20, the court ruled that all civil claims will be satisfied in full. The accused did not contest the claims. The total amount of compensation was close to EUR 300 000.”

Sorainen’s team included Partner Kaupo Lepasepp, Associate Mari Haamer, and Legal Assistant Hanna-Elise Rahni.

Sorainen has advised Dooropener on the acquisition of a 50% stake in the MCC Group from Katrin and Tarvo Moss. Moss Legal and Uplegal advised the sellers on the deal.

According to Sorainen, “as a result of this transaction, [MCC Group owned] Hansa Candle, the largest candle manufacturer in the Baltics and one of the largest employers in Viljandi, Estonia, will now have one owner.”

Sorainen’s team included Partner Karin Madisson and Senior Associate Robin Teever.

Uplegal’s team was led by Partner Maria Klaos.

Moss Legal’s team was led by Attorney Rando Maisvee.

Cobalt has advised on the sale of Estonian software development company Icefire to cloud-based payment solution provider Checkout.com. Ellex Raidla reportedly advised the buyer.

According to Cobalt, Icefire has experience developing financial services solutions for both the public and private sectors. In its 18-year history, it has worked for brands such as Skype, OP Financial Group, LHV, Bigbank, and the Estonian Tax and Customs Board. Most recently, it supported the development of Estonia’s COVID-19 app, HOIA. 

Cobalt’s team consisted of Specialist Counsel Ott Aava, Senior Associate Tonu Kolts, Associate Kerli Paasoja, and Assistant Lawyer Elis Toim.

Ellex Raidla and Swedish Cirio Law Firm have advised the Kindred Group on its acquisition of outstanding shares in Relax Gaming. Roschier Attorneys advised the shareholders of Relax Holding Limited.

According to Ellex, Kindred invested in Relax Gaming in 2013 with the new deal allowing Kindred to acquire the remaining 66.6 percent of the outstanding shares. It further informed that the transaction values the company at up to EUR 320 million on a cash and debt-free basis with a total value of the outstanding shares of approximately EUR 295 million. Kindred will pay an initial consideration, settled in cash upon completion, of approximately EUR 80 million (on a cash and debt-free basis). In addition to the initial consideration, the maximum earn-out payments amount to EUR 113 million and may become payable in 2022 and 2023, subject to Relax Gaming achieving certain earnings thresholds. The transaction will be financed through Kindred’s existing cash and credit facilities.

“Through this acquisition we add a rapidly growing and profitable B2B business with a world-class product portfolio, giving us greater control over our casino, poker, and bingo offering, putting Kindred in a significantly better position to achieve our long-term strategy to increase our focus on product differentiation and customer experience,” commented Kindred Group CEO Henrik Tjarnstrom.

The Ellex team was led by Partner Sven Papp and included Counsel Jaanus Ikla, Senior Associates Gerda Liik, Hanna Pahk, and Rauno Klemm, and Associate Merlin Liis-Toomela.

TGS Baltic has successfully represented AS Kevelt in a case before the Supreme Court of Estonia.

According to TGS Baltic, on June 16, 2021, the Supreme Court ruled in favor of AS Kevelt holding that a consignor of temperature-sensitive goods such as medicines may assume that the carrier of the goods has a proper action plan for refrigeration equipment failure.

According to the firm, “by applying the Convention on the Contract for the International Carriage of Goods by Road, the Supreme Court found that, in terms of the carrier’s limitation of liability, gross negligence is considered as equivalent to wilful misconduct under Estonian law. Therefore, the carrier may not limit its liability even if the damage was caused by gross negligence. The Supreme Court specified that the consignee of goods has generally fulfilled their burden of proof already when substantiating in the statement of claim the circumstances of the carrier’s actions which are sufficiently probable to indicate the intent or gross negligence of the carrier.”

TGS Baltic’s team included Senior Associates Martti Peetsalu and Silvia Urgas.

Ellex has advised Tera Ventures on leading a EUR 700,000 financing round for Estonian start-up 10Lines.

According to Ellex, 10Lines has developed autonomous parking lot and road line-marking robots. The US investment company Perot Jain participated as a co-investor. According to the firm, “the investment from Tera and Perot Jain will allow the company to complete the development and production of its technology, begin scaling the business and bring on additional team members.”

Ellex’s team included Counsel Antti Perli, Associate Merlin Liis-Toomela, and Lawyer Priit Pruks.

Ellex could not provide additional information on the deal.

Ellex Raidla has successfully represented the interests of Enefit Green AS before the Tallinn Circuit Court regarding the merger with Nelja Energia AS.

According to Ellex, “on November 6, 2018, the Competition Authority made a decision authorizing Enefit Green AS to acquire a controlling influence over Nelja Energia AS. This decision was challenged in the Tallinn Administrative Court. In 2020, the court found that the submitted complaint was unfounded and the decision of the Competition Authority was lawful. The decision of the Tallinn Administrative Court, in turn, was appealed to the circuit court.” According to the firm, “on June 17, 2021, the Tallinn Circuit Court issued a decision dismissing the appeal of the applicants (ELEON AS, AS Eesti Elekter, Eurowind OU, Vaivara Tuulepark OU, Roheline Elekter AS, AiduTuulepark OU, Audru Tuulepark OU, and Estwind Energy OU) and without changing the resolution of the Tallinn Administrative Court.”

Ellex has already represented Enefit Green before the Tallinn Court last year (as reported by CEE Legal Matters on July 23, 2020).

Ellex Raidla’s team included Partners Arne Ots and Martin Maesalu and Attorney Martin Raude.

The Nove law firm, reportedly working with Ellex Raidla, has successfully represented Seesam Insurance in a dispute with Ragn-Sells over indemnity insurance for the damage caused by fires to the latter’s waste fuel plant.

According to Nove, the dispute ensued in 2019 when Ragn-Sells filed an approximately EUR 10 million claim against the Compensa Vienna Insurance Group, which is the Estonian branch of Seesam and is operating under the Seesam Insurance brand. The plaintiff requested that the fire-related damage to its waste fuel plant in 2018 be compensated by the insurance company.

According to Nove, “the court proceedings revealed that the violations of waste management and fire safety rules led to the outbreak of two large-scale fires in the same factory in a short time.” According to the firm, the Supreme Court of Estonia found that the damage was not caused by unexpected accidents, but resulted from non-compliance with waste management requirements and fire safety requirements by the waste manager. As a result, the court fully rejected the plaintiff’s claim.

Nove’s team was helmed by Partner Andrus Kattel.

Ellex Raidla’s team was reportedly led by Partner Martin Triipan.

Pohla & Hallmagi has advised Restate on the sale of two properties – a shopping center and a commercial property in Tallinn – to BRCKS SPV. Ellex Raidla advised the buyer.

According to Pohla, a shopping center at Linnamae tee 95 was sold to BRCKS SPV 4 OU, while a commercial property at Osmussaare tee 5 // Taevakivi tn 1 was sold to BRCKS SPV 2.

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

Ellex Raidla’s team included Partner Ermo Kosk and Senior Associate Sandra Vark.