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COBALT advises BaltCap in acquiring Baltic operations of financial automation company OpusCapita


COBALT advises BaltCap, the largest private equity and venture capital investor in the region in signing an agreement to buy invoicing and financial automation business of OpusCapita in the Baltics. The transaction consists of OpusCapita AS in Estonia and Latvia and UAB OpusCapita in Lithuania which provide financial automation services to the local market. The transaction is planned to be completed by December 2015 subject to the approval of the Competition Authorities and confirmatory due diligence. The parties have agreed not to disclose the transaction price.

Kristjan Kalda, Investment Director of BaltCap said that through the investment, BaltCap will participate in developing paperless economy. He also mentioned that Europe has a long way to go until financial processes are fully automated, but the Baltic countries are moving in the right direction: e-invoicing standards have already been implemented in Estonia and Latvia and they will be implemented in Lithuania from next year. Estonian government will require e-invoices from all suppliers from 2016.

Our assignment comprises counselling the client upon preparation of the transaction documents, merger clearance proceeding, LDD and negotiations throughout the process.

Form COBALT Estonia the client is advised by partners Peeter Kutman and Elo Tamm, senior associates Ott Aava and Katri Paas-Mohando.
From COBALT Latvia - partners Dace Silava–Tomsone and Guntars Zile, senior associates Sandija Novicka and Toms Sulmanis.
From COBALT Lithuania - partner Elijus Burgis, associates Audrius Slažinskas and Justinas Šileika.