COBALT advised their long-term client Circle K Eesti AS (former business name Statoil Fuel & Retail Eesti AS) upon acquisition of the filling stations operated under the trademark of Premium 7. The transaction involves acquisition of 11 service stations and 12 automated filling stations, and as a result, Statoil will be servicing clients in 77 points of sale all over Estonia. The transaction will be completed after obtaining the permission from the Estonian Competition Authority. The parties do not wish to disclose the value of the transaction.
Our assignment consisted of advising the client during the whole transaction process, including due diligence, negotiations in respect of the terms and conditions of the asset purchase agreement, transaction documents, and submission of the notice of concentration to the Estonian Competition Authority.
The transaction team consisted of partner Martin Simovart, senior associate Karl Kull, and partner Elo Tamm who advised on competition law matters.