All deals & cases

COBALT advised Energy and Infrastructure SME Fund on the acquisition of UAB Čiurlionio tiltas

2016-12-12

COBALT advised Energy and Infrastructure SME Fund, the fund managed by provider of investment management services UAB Lords LB Asset Management on the acquisition of UAB Čiurlionio tiltas. UAB Čiurlionio tiltas has the concession to design, construct and operate the transport hub of the left access to M. K. Čiurlionis Bridge.

This investment is Energy and Infrastructure SME Fund’s first investment. The Fund started its operations in summer earlier this year and will acquire and develop small and medium-sized projects in the energy and infrastructure sectors.

The Fund acquired the concession of the left access to M. K. Čiurlionis Bridge from a major Western Lithuania construction company UAB Hidrostatyba. The company will continue the maintenance and operation of the concession of the bridge. Energy and Infrastructure SME Fund will participate in the concession for 16 years.

It is forecasted that we will see more of public-private partnerships of this kind as EU funding is decreasing.

COBALT advised Energy and Infrastructure SME Fund in all stages of the transaction, including legal due diligence of the target, drafting of the transaction documents and advice on other transaction related matters. The team was led by Partner Elijus Burgis. The team included Partner Simona Oliškevičiūtė-Cicėnienė, Managing Associate Aušrys Šliavas and Associate Mantas Juška.