COBALT advised venture capital fund “Practica Venture Capital” managed by Practica Capital on the 1.5 million EUR investment in East West Agro – one of the leading agriculture machinery and spare parts seller in the Baltics. The total amount of the long term investment agreement, together with bank Swedbank is EUR 6 million.
The investment enabled East West Agro to become an authorised dealer of US agricultural machinery brand Massey Ferguson. It is expected that it will boost company’s development in Lithuania and the Baltics. East West Agro (EWA) is an agriculture machinery professional, which represents many world-known brands in the region – “Massey Ferguson”, “Dal – Bo”, “Fella”, “Sulky” and others. EWA was established in 2006. In 2012 a part of company shares were sold to KG Group, as strategic partnership agreement. After 3 years of successful collaboration, KG Group sold the shares back to EWA founders.
The work of COBALT lawyers included drafting of transaction documents, representing Practica Venture Capital during negotiations, conducting due diligence and advising on other transaction related matters. The project team at COBALT includes Elijus Burgis, Partner, Audrius Slažinskas, Associate.