COBALT advised the INVL Baltic Forests Fund I subfund of closed-end umbrella fund intended for informed investors INVL Alternative Assets Umbrella Fund, managed by INVL Asset Management, on all legal issues related to the sale of 100% of shares in UAB Aukštagirė and UAB Aukštašilė, engaged in the business of acquiring commercial forests.
The majority of the fund’s forest portfolio managed by the companies Aukštašilė and Aukštagirė was acquired by Silvestica Green Forest Lithuania.
The INVL Baltic Forests Fund I subfund invests in the Baltic countries in forests that are suited to forestry activities. The targets of the transaction UAB Aukštagirė and UAB Aukštašilė, owned by the subfund, jointly own more than 750 land plots comprising more than 4,000 hectares.
Silvestica Green Forest is a long-term forest-oriented fund for institutional investors. Established in 2017, the fund invests in forests in Sweden, Finland, Lithuania, Latvia and Estonia. Silvestica Fund owns more than 10,000 hectares of forest in Lithuania, in total about 50 000 hectares of forest.
COBALT prepared the transaction documents, represented the clients in negotiations, and provided advice on transaction-related issues. The project team included Irmantas Norkus, Managing Partner, and Inga Mažvilaitė, Senior Associate.