Pan-Baltic firm Cobalt established has an office in Vilnius. It also has branches in Latvia and Lithuania and employs more than 200 lawyers in total.
Focusses / specialisms
The firm has experience in advising mainly foreign clients in banking, corporate and M&A, and in project development practice areas.
In banking and finance, it has a track-record of advising international lenders, borrowers and institutional investors on cross-border transactions such as financing and funds on establishing entities in the country.
In corporate and M&A it represents mostly international investors in their roles of buyers and sellers in mergers, acquisitions and corporate restructurings in various industries, from infrastructure to fin-tech.
In project development the firm advises foreign investors and developers as well as Lithuanian developers on PPP projects as well as on private projects in a range of sectors, including energy and social infrastructure.
Key clients
Among its clients are Citibank, DNB Markets, Carnegie Investment Bank AB, DNB Bank ASA, Nordic Trustee & Agency, Kreos Capital VI, European Investment Bank, UAB INVL Asset Management, UAB 1ClickFactory, Genesis, European Bank for Reconstruction and Development, Practica Capital, Luminor Bank, Aviva, PZU investment fund management company, BlackRock, Euroclear, BaltCap Private Equity Fund III and Prosperus Asset Management.
Research period review: 32nd edition (2022/2023)
During the research cycle the firm was active in all areas of corporate law and project development.
In banking and finance it was active in advising mostly lenders and also borrowers on direct financing and loan portfolio sales.
In debt capital markets it advised initial purchasers on convertible bonds investments and issuers on transactions such as covered bond issues and notes issues. In equity capital markets it advised mostly the issuer on share capital increases.
Its financial services regulatory practice consists of regulatory deals assistance in M&A deal, electronic money institution licences, EMI licences, AML investigations, payment institution licence, and other regulatory matters. It advised clients mostly in banking, financial and investment services and insurance.
In corporate and M&A the firm represented all sides of the table, including merger party, sellers, buyers and targets on acquisitions in pharmacy, technology and telecommunications, insurance and agriculture.
In project development the firm has a versatile deal record of advising sponsors, bidders, a concessionaire and project developers on renewable energy plants acquisitions, social infrastructure concession agreement, and projects and PPPs in logistics, electricity utilities, transport, renewable energy and social infrastructure.
Recent staffing changes in the banking team include the recruitment of
Silvija Balčiūnienė, associate in financial services regulatory and fintech, hired from the Government Agent before the European Court of Human Rights, and
Viktorija Melnik, associate in asset finance and financial services regulatory, hired from AAA Law. Agnė Kaminskienė, a senior associate in
financial services regulatory, moved to Revolut.
New additions to the corporate and M&A team are Augustinas Petkevičius, an associate hired from Rödl and Partners, and Žygimantas Gulbinas, an associate who joined from Leadell Law Offices.
In project development the firm added to its team
Roberta Iškauskaitė, PPP associate.
Deal highlights: 32nd edition (2022/2023)
Allianz €2.5 billion acquisition of Aviva
Curve OS £20 million financing
Interactio €30 million share capital increase
Levine Leichtman Capital Partners acquisition of Creditinfo Group
Luminor Bank €3 billion covered bond issue
Technopolis Group €20 million financing
The British School of Vilnius development
The IT Channel Company €28 million financing
UAB INVL Asset Management €17.4 million financing
ViaCon Group AB €224 million financing
Vita Group €280 million financing
Client feedback: 32nd edition (2022/2023)
Capital markets : Debt
"Superb communication and creative solutions in negotiations."
M&A
"They are very professional and solution-oriented in their approach and seek the best result for us as clients."
"Very user-friendly and I could put their lawyers in front of our London-based business team knowing that they would give clear, simple advice. They worked seamlessly with our lead counsel (and with the other side's Lithuanian counsel)."
"Well connected , proactive and hands-on."
Private equity
"Understanding our needs, speed, consistent quality, reliability, reputation, pan-Baltic capabilities, full stack of legal and tax services."
"Looking for the best solution for the client. Trying to be in line with a particular client's needs."
Akvilė Bosaitė
"Promptness, availability and calmness."
"Understands our needs, speed, consistent quality, reliability, reputation, pan-Baltic capabilities, full stack of legal and tax services."
Irmantas Norkus
"Very professional approach and high-quality legal advice."
Simona Oliškevičiūtė-Cicėnienė
"Very much in control. Very available."
Juozas Rimas
"He coordinates work for all three Baltic countries where firm has presence."
"Calm, cool and easy to deal with. International outlook. "
Eva Suduiko
"Listening to the client's needs, looking for an efficient solution."
