News
Last year, Estonian and Lithuanian GDP per capita stood at 74% of the 28-member EU average and Latvia’s at 64%. Godmanis said the Baltics would have to find “some very interesting and specific ways” to reach the average European level, or get through from 75% to 100%. “If we don’t catch up with the European […]
Wihuri, a Finnish company operating in technical trading, sold its Estonian, Latvian and Lithuanian subsidiaries to Avesco. The transaction was complicated due to the fact that it involved resolving a series of technical pre-closing arrangements and simultaneous closing in three jurisdictions. The Sorainen pan-Baltic team led by partner Pekka Puolakka also included, among others, senior […]
Livonia Partners, the pan-Baltic private equity firm, has agreed to acquire Hortes, the leading retail brand for home and gardening products in Estonia. Livonia will support the company in realising its strong regional growth potential. “Retail is one of the strongest industries in Estonia, consistently outperforming GDP, and Hortes is one of Estonia’s most successful […]
Sorainen is advising Betsson on the acquisition of gaming operator Lošimų strateginė grupė, trading as TonyBet in Lithuania. Betsson is acquiring Lošimų strateginė grupė through wholly owned subsidiaries and deal closing is expected to take place within a month. The initial acquisition consideration is EUR 4.0 million. TonyBet is the second largest licensed online operator […]
Sorainen advised Nordea, the largest financial services group in northern Europe, on combining operations with DNB in Estonia, Latvia and Lithuania to create the leading main bank in the Baltics with strong Nordic roots. “Combining knowledge of the Baltic market, close cooperation with our customers and developments in digital banking, Nordea has over the years […]
