Cobalt has advised Genopas B.V. and Nunica Holdings B.V. on the sale of their 100% shareholding in UAB Pusbroliai to Idex Baltic.
Operating since 2008, Pusbroliai sells biofuel and forest and round wood.
France’s Idex renewable energy group was founded in 1963 and operates 60 biofuel boiler facilities and 16 waste-to-energy plants.
Cobalts’s team included Partner Elijus Burgis and Senior Associate Zygintas Voronavicius.
Sorainen has won a tender to advise Lithuania’s state-owned Ignitis Group on an initial public offering it is currently considering. Ashurst will be advising on English and US law aspects.
According to Sorainen, “the Ignitis Group IPO could be announced after the group delists the shares of its subsidiaries Energijos Skirstymo Operatoriaus and Ignitis Gamyba, which are currently listed on the Nasdaq Vilnius Stock Exchange. The conclusions of the Ministry of Finance working group on the possibilities for the IPO are expected to be published by March. According to the company, this IPO could become the largest in the Baltic States to date.”
Sorainen’s team will include Partners Tomas Kontautas and Sergej Butov and Senior Associates Dalia Augaite, Inga Macijauskaite, and Evaldas Dudonis.
Motieka & Audzevicius has advised Avia Solutions Group on the acquisition of Bluebird Nordic, a cargo airline headquartered in Iceland. Bluebird Nordic was reportedly advised by Iceland’s BBA//Fjeldco law firm.
Bluebird Nordic provides wet lease services to integrators like ASL/FedEx, UPS, and DHL, as well as charter brokers and other cargo airlines in Europe. According to Motieka & Audzevicius, “Avia Solutions Group is the largest aerospace group from Central & Eastern Europe offering aviation services worldwide while conducting activities from 67 international offices and production stations.”
The Motieka & Audzevicius team included Partner Giedrius Kolesnikovas and Associates Rokas Jankus and Aivaras Grigas.
Ellex Valiunas and Norway’s Tenden law firm have advised Norway’s Passer Group on its acquisition of 49% of shares in Lithuania’s SIDC Group.
According to Ellex Valiunas, the SIDC Group “is engaged in ship modernization and other marine products.”
The Passer Group is a manufacturer of products for the wind and renewable energy, cryogenic insulation, and marine industries.
The Ellex Valiunas team included Partner Paulius Gruodis and Associates Ruta Armone and Aleksandr Asovskii.
Ellex Valiunas informed CEE Legal Matters that it was unable to provide more information about the deal.
Motieka & Audzevicius has advised MyFitness, a sports and fitness club operator, on the acquisition of Lithuania-based Gym Plius. Ellex Valiunas advised the unidentified sellers on the deal.
According to Ellex Valiunas, “officially, after the deal, Gym Plius will continue to operate in Lithuania, retaining its existing concept, brand, and its talented team.”
The Motieka & Audzevicius team included Partner Giedrius Kolesnikovas, Senior Associate Sigita Adomaityte, Associates Rokas Jankus, Aivaras Grigas, Darius Amsiejus, and Martynas Bendikas, and Junior Associate Laurynas Ramonas.
The Ellex Valiunas team included Partner Zilvinas Zinkevicius, Associate Partner Migle Petkeviciene, Senior Associate Neringa Mickeviciute, Tax Consultant Gintaras Balcius, Associates Augustinas Macionis, Marijus Dingilevskis, and Ieva Krivickaite, and Junior Associate Tomas Balcytis.
Derling Primus has helped NBC Security, Inc. establish UAB Baltic Defense Industries, which will manufacture military and defense products in Lithuania for global defense and law enforcement agencies.
According to Derling Primus, Baltic Defense Industries will operate in Kaunas and will recruit up to 30 people over the next three years in such areas as mechanical and electrical engineering, aviation and aeronautics, artificial intelligence, military, and defense technologies.
Derling Primus’s team consisted of Managing Partner Robert Juodka and Senior Associate Jaroslav Pavlovskij.
Cobalt has advised Iron Wolf Capital on its EUR 1.6 million investment in Integrated Fiber Optics.
Cobalt describes Iron Wolf Caital as “an EU-based venture capital fund that invests in high growth, micro, small and medium-sized companies that are or are planning to pursue R&D in smart specialization.” According to the firm, “IWC invests in startups driven by innovation that are capable of achieving a competitive advantage on a global scale, resulting from innovative product offering, innovative technology or unique business model.”
According to Cobalt, “Integrated Fiber Optics specializes in research and development of innovative integrated fiber optic components. The company has patented an ultra-short optical pulse laser technology and has global aspirations in a market that is growing 25% per year, expected to surpass USD 16 billion by 2025.”
Cobalt’s team consisted of Partner Juozas Rimas, Senior Associate Aurelija Balciune, and Associate Kostas Grigaitis.
DLK Legal has helped Digital Virgo obtain an e-money institution license for Lithuania’s Digital Virgo Payment UAB.
According to DLK Legal, “Digital Virgo is a multinational group present in more than 40 countries worldwide. Digital Virgo provides Direct Carrier Billing solutions, which allow customers to pay for their purchases via their mobile subscription as part of their monthly bill or as prepaid cards. The e-money institution license will allow the group to expand its service range.”
The DLK team was led by Partner Krzysztof Korus, and included Lawyers Szymon Zych, Mikolaj Cegłowski, and Aleksandra Ksiezak.
Sorainen has advised venture capital fund Startup Wise Guys on its investment in Lithuanian transport management system developer GoRamp.
GoRamp helps manufacturing and merchandising companies manage purchasing and shipping logistics information and documentation. According to GoRamp, the investment — its second from Startup Wise Guys, following a EUR 70,000 investment in April 2019 — will be used to strengthen its position in the and expand to Poland.
GoRamp helps manufacturing and merchandising companies manage purchasing and shipping logistics information and documentation. According to GoRamp, the investment will be used to strengthen its position in the and expand to Poland.
Sorainen’s team consisted of Partner Mantas Petkevicius and Senior Associate Vytautas Sabalys.
Sorainen did not reply to our inquiry on the matter.
The Lithuanian office of Deloitte Legal has advised Aurora Cannabis Inc. on the merger of its two Lithuanian subsidiaries, Agropro and Borela.
According to Deloitte, “Agropro is the largest organic hemp grower, processor, and supplier of certified organic hemp and hemp products in Europe and Borela is an organic hemp factory. Aurora is listed on the Toronto Stock Exchange and New York Stock Exchange under the ticker ACB and on the Frankfurt Stock Exchange under the trading symbol 21P. After the merger Lithuanian subsidiary continues its operations under the new corporate name Aurora Hemp Europe UAB.”
Deloitte Legal’s team included Partner Tomas Davidonis, Managing Associate Tomas Mieliauskas, Associates Andrej Jemeljanov and Ieva Vaskinelyte, and Assistant Lawyer Auguste Siutilaite.