Category: Lithuania

Primus Derling has assisted the SBA Furniture Group in the acquisition of 80% shares in Robotex, a specialized robotics and production automation solutions company.

SBA Furniture Group is a furniture manufacturer was founded in 1990. The company concentrates on furniture, apparel, business centers, and investment management. SBA Concern consists of 30 enterprises running in Lithuania and foreign countries. The company exports 90% of its production to nearly 40 world countries.   

Robotex is a robotics and automation solutions company founded in 2009. The company specializes in the integration of robots in industrial enterprises and aims at increasing production efficiency, production quality, and reduce production costs.

Robotex has implemented robots in Latvia, Germany, Ireland, France, Czech Republic, and Belarus. In addition to the SBA Group, the current and former customers of the company also include Ikea Industry Lietuva, Teltonika, Maxima, Iki, and Nordic Sugar.

“Over the past years, the SBA Furniture Group has been actively robotizing and automating the production processes of its companies: several robots are being implemented each year,” said SBA Furniture Director General Audrius Bendaravicius. “Our long-term partner Robotex is a significant contributor. By acquiring this company, we will be able to use the highest competences of robot implementation and monitoring, as well as implement even more innovative, productivity-enhancing solutions in the SBA Furniture Group and beyond.”

The Primus Derling team consisted of Partner Giedre Dailidenaite and Senior Associate Sarune Prankonyte-Segen. 

Cobalt Lithuania has advised KJK Sports on its acquisition of 100% of the shares of Baltic Bicycle Trade UAB from Denmark’s Asgaard A/S and Lithuania’s Litcapital I. TGS Baltic advised Asgaard and Litcapital I on the sale, which remains contingent on competition clearance and is expected to close in the third quarter of 2019. 

KJK Sports is a Luxembourg-based sporting goods holding company focused on the active outdoor sporting goods segment with existing investments in Elan d.o.o., Tahe Outdoors, and Leader 96.

KJK Sports is supported by KJK Management, an independent partner-owned asset manager focused on servicing the needs of institutional investors. KJK’s network covers eight offices across Europe.

Baltic Bicycle Trade, founded in 2002, is in a parent company of Baltik Vairas, which is based in Siauliai, Lithuania. Baltic Bicycle Trade develops, manufactures, sells, and distributes electric bicycles. The company also offers wholesale and retail sales of Panther-branded bicycles. 

Earlier this year, Cobalt advised KJK Sports on the acquisition of a 50% stake in Tahe Outdoors (as reported by CEE Legal Matters on January 21, 2019).

The Cobalt team was led by Partner Irmantas Norkus and included Associate Julija Timoscenko.

The TGS Baltic team was led by Partner Aurimas Pauliukevicius.

Ellex Valiunas has advised US private equity company Hammond, Kennedy, Whitney & Company, HKW, and its affiliated company Xirgo Technologies on their acquisition of a 100% stake in Baltic Car Equipment, a Lithuanian company which manufactures electronic equipment and develops IT solutions for transport and agricultural machinery.

According to Ellex Valiunas, “Xirgo Technologies provides wireless IoT solutions such as insurance telematics, fleet management, asset tracking and control, transport logistics, and mobility. It is a subsidiary of HKW, a US-owned private equity company, which invests in small and medium-sized private companies, primarily in the B2B and medical and health sectors.”

The Ellex Valiunas team included Partners Paulius Gruodis and Giedrius Stasevicius, Associate lawyer Mantas Juska, and Lawyer Arvydas Gruseckas.

Ellex Valiunas did not reply to our inquiry on the matter. 

Head of Competition Law Rasa Zasciurinskaite has become the 13th partner and Head of Commercial Disputes Marius Inta has become the 3rd Associate Partner at Cobalt in Lithuania.

According to a Cobalt press release, Zasciurinskaite “has been specializing in competition law for over 14 years and has substantial experience in energy, pharmacy, aviation and other regulated areas of law. [She] has also broad experience in representing clients’ interests on competition law and State aid matters in the Competition Council and in courts, also in the European Commission and in EU courts. She is an active member of the W@Competition platform uniting women professionals in the field of competition law from entire Europe and other countries.”

“Marius Inta has over 16 years’ experience in Dispute Resolution and Conflict Management and focuses his practice on insurance disputes, represents clients in litigation matters involving damage compensation, competition law and intellectual property law violations,” the firm reports. “Marius is a litigation lawyer with a long track record of acting for clients in courts of general jurisdiction and administrative courts and alternative dispute resolution (negotiation, arbitration, mediation).”

“This year is a year of rapid growth and development for Cobalt,” said Cobalt Lithuania Managing Partner Irmantas Norkus. “The conditions are predetermined by the market – the volume of the firm’s work is constantly escalating, customer expectations and needs are increasing, so we need to keep up – strengthen the team and always be one step ahead. Since January, three new partners and three associate partners have reinforced our team of managers, this year we have lost not a single lawyer, and eight new specialists joined our firm. During [the first] four months of this year, we grew by ten percent, and over the past twelve months by 20 percent — this is probably the best result on the market”, 

Cobalt now has a total of 35 partners and three associate partners in its offices in all three Baltic states and Belarus.

Walless has helped Lithuania’s UAB General Financing obtain a specialized bank license from the European Central Bank.

UAB General Financing began operations in 2005. It was a member of Societe Generale group from 2008 to 2013, and now is a part of Sweden’s Marginalen financial group. 

The Walless team included Partner Joana Baublyte-Kulviete, Associate Partner Lina Radaviciene, and Senior Associate Simona Kisunaite. 

Dentons and TGS Baltic have advised the Republic of Lithuania on the issuance of EUR 650 million 0.500% Notes due 2029 and EUR 850 million 1.625% Notes due 2049. BNP Paribas and J.P. Morgan were the Joint Lead Managers on the issuance. Freshfields Bruckhaus Deringer was international counsel and Sorainen acted as Lithuanian counsel to the underwriters.

The issuance was pursuant to the Republic of Lithuania’s Euro Medium Term Note Programme listed on the Luxembourg Stock Exchange. The Notes are rated A3 by Moody’s, A by Standard & Poor’s, and A- by Fitch Ratings.

The Dentons team included Partner Nick Hayday, Associates Moeen Qayum and Kathryn Finch, and Trainee Gemma Dreelan. 

The TGS Baltic team included Partner Vidmantas Drizga, Associate Partner Mantas Gofmanas, and Associate Goda Drasute.

The Sorainen team included Partner Tomas Kontautas and Senior Associates Agne Sovaite and Dalia Augaite.

Cobalt has advised UAB Veju Spektras, a company managing 21.5 MW wind farm in Silute, Lithuania, on the sale of 100% of its shares to Quaero European Infrastructure Fund, managed by the Swiss company Quaero Capital.

UAB Vejų Spektras is a wind farm operator and owner in Lithuania that focuses on developing renewable and alternative energy projects.

Quaero Capital is an independent private equity fund management company based in Geneva with offices in Zurich, Luxembourg, Paris, and London.

The Cobalt team included Partner Elijus Burgis and Associate Julija Timoscenko. 

Cobalt did not reply to our inquiry on the matter.

SPC has advised TM Investments on the acquisition of shares of UAB Trailinga, a company owning leased out administrative, warehousing and manufacturing buildings. Triniti advised the shareholders of UAB Trailinga on the sell-side. Financial details were not disclosed.

The SPC team included Partner Povilas Karlonas, Senior Associate Jonas Povilionis, and Associate Sandra Narmontaite.

The Triniti team was led by Partner Vytautas Kalmatavicius.

Sorainen Partner Laurynas Lukosiunas has represented the Republic of Lithuania in a meeting at the European Commission.

According to Sorainen, the goal was to secure Lithuania’s position in terms of its public procurement laws. It was the second time in the last 15 years that such a procedure has taken place.

Sorainen reports that Lukosiunas “analyzed and evaluated observations made by the EC [and] prepared the official position of the Republic of Lithuania.” In addition, and working with representatives from the Ministry of Finance of the Republic of Lithuania and Neringa Virbickaite, representing Lithuania’s Central Project Management Agency, Lukosiunas led negotiations with the EC in Brussels in regard to the public procurement questions in Lithuania.

Cobalt has helped UAB Wittix obtain an electronic money institution license for unrestricted activity.

According to Cobalt, “the license will enable Wittix to issue and/or acquire payment instruments and process incoming payments, execute payment transactions, and transfer funds on the payment account. In addition, Wittix will be entitled to make one-off direct debit transfers and execute payment transactions through a payment card or a similar device, as well as make money remittances, issue, distribute, and redeem electronic money.”

Cobalt advised Wittix on all issues related to obtaining the license, drafted the license application documents, and represented the company with the Bank of Lithuania. 

The Cobalt team was led by Senior Associate Justina Milasauskiene and Associate Justina Auzbikaviciene.