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COBALT advised Mid Europa Partners on acquisition of leading Baltics e-commerce platforms

2021-03-31

COBALT in cooperation with international law firm Dechert advised a leading buyout investor Mid Europa Partners on acquisition of a leading Baltics e-commerce platforms Pigu and Hobby Hall Group.

The transaction is subject to antitrust approval and is expected to complete in Q2 2021. The combination will result in the creation of the leading e-commerce and online marketplace platform operating across Lithuania, Latvia, and Estonia with a growing presence in Finland.

With several million registered customers across four countries, over 2,000 merchants onboarded on Pigu's proprietary marketplace platform over the last year, as well as a unique portfolio of online shopping destinations such as pigu.lt, kaup24.ee, hansapost.ee, 220.lv, xnet.lv, and hobbyhall.fi, the combined Group is expected to lead the development of the region's rapidly growing digital economy by offering the best-in-class value proposition and online shopping experience for its customers and merchants alike.

Our work comprised advising the client during the whole deal process, including assisting the client with the due diligence, drafting and negotiating the transaction documents as well as assisting with the merger clearance procedure from the Competition Authorities in Estonia and Lithuania.

The project team includes project lead Senior Associate Madis Reppo, Partner Peeter Kutman, Associate Tiit-Gregor Mets from Estonia, Partner Guntars Zīle and Senior Associate Diāna Zepa from Latvia and Partner Elijus Burgis and Managing Associate Deimantė Pagirienė from Lithuania. Antitrust team was led by Partner Elo Tamm, Specialist Counsel Elena Hansov and Senior Associate Justinas Šileika.

Please see the press release from here.