COBALT advised LHV Pank, ING, and the European Investment Bank on financing the E-Piim project

COBALT advised LHV Pank, ING, and the European Investment Bank on providing a 113 million euro financing to an Estonian dairy producer E-Piim to support the construction of a new modern dairy plant in Paide.

E-Piim is one of the largest cheese and butter producers and exporters in Estonia, owned by more than a hundred local dairy farmers.

The proposed investment has a total project cost of around €154 million and underpins E-Piim´s strategy to increase the competitiveness of its business through expansion of capacity. The investment enables the building of a new factory in Paide, where milk will be processed into higher value-added dairy products such as hard and semi-hard cheese and pasteurized cream.

The investment will also support sustainable agriculture. Furthermore, the company implements a Zero net Carbon Company program, targeting zero net carbon emissions by 2040 and a reduction of 55% by 2030, including with its milk suppliers.

COBALT advised clients on Estonian law matters in all steps of the transaction. The transaction team consisted of Partner Marina Kotkas, Associates Christine Mägi, and  Maarja Tambet.

Read more: here and here

Picture source: www.epiim.ee