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COBALT is advising Agrosfera UAB on the sale of a shareholding in UAB ICOR

2018-01-15

COBALT is advising Agrosfera UAB and its Estonia-based shareholder Agromeril in connection with a strategic investment by ICOR through the purchase of an additional share issue of Agrosfera UAB. Closing is subject to merger clearance from the Competition Council. The value of the transaction is not disclosed.

Following closing, ICOR will control 60% of the shares in Agrosfera UAB. The remaining 40% of the shares and management of the company will be retained by the existing shareholders.

Founded in 2009, UAB Agrosfera is a Lithuania-based company trading in agricultural commodities and specialised in buying cereals from farmers.

ICOR, which started its activities in 1990, is among the largest company groups in the region. The ICOR group has about 70 companies operating in four main business areas: utilities; industry and energy; real estate; oil and oil products.

COBALT is assisting the shareholders of UAB Agrosfera in negotiations regarding the share issue and other documentation and is advising them on all other transaction-related matters. The team is comprised of COBALT Partner Akvilė Bosaitė, Senior Associate Elena Vėgėlytė, and Associate Evaldas Petraitis.