Following the final share buy-back, BaltCap becomes the sole shareholder of HansaMatrix

2023 - 06 - 15

Investment fund BaltCap Private Equity Fund III, through its subsidiary SIA Emsco, has become the sole shareholder of high-tech company HansaMatrix, resulting in the delisting of HansaMatrix shares from the Baltic Main List of the Nasdaq Riga regulated market.

HansaMatrix is a fast-growing, high-technology company that provides product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial and other high added value business sectors.

The takeover of HansaMatrix was carried out in two phases. First, BaltCap made a voluntary takeover bid to all HansaMatrix shareholders in accordance with the Takeover Law. As a result, BaltCap acquired such number of HansaMatrix shares that allowed to complete the final share buy-back of HansaMatrix. This was the first takeover process carried out in accordance with the Takeover Law.

COBALT provided full legal support to BaltCap throughout the entire HansaMatrix takeover process, from planning of the transaction to completing the final share buy-back. As part of the takeover process, COBALT ensured the receipt of the Competition Council’s clearance for acquisition of the decisive influence over HansaMatrix, prepared all necessary documents for the voluntary takeover bid and the final share buy-back, and supported BaltCap in its communication with the Competition Council, the Bank of Latvia and Nasdaq CSD.

The COBALT team was led by Partner Guntars Zīle and Senior Associate Mārtiņš Tarlaps, and included Partner Uģis Zeltiņš, and Senior Associates Ivo Maskalāns and Krišjānis Bušs.