Cobalt has advised Linas Agro on its acquisition of Elagro Trade for a preliminary amount of EUR 22 million.
The transaction remains contingent on regulatory approval.
Linas Agro is indirectly controlled by the agricultural and food production company Akola Group.
Elagro Trade is a Latvian grain exporter.
“The target company is a strong grain trader, supplier of goods to farmers, and a competitor of Linas Agro in Latvia,” Akola Group CFO & Board Member Mazvydas Sileika commented. “The acquisition will increase the efficiency of the services provided to Latvian farmers and will help the company to compete more actively in the grain export business and improve the infrastructure in Latvia.”
In 2023, Cobalt advised on Linas Agro Group's acquisition of Grybai LT (as reported by CEE Legal Matters on June 12, 2023) and, in 2021, Cobalt helped the Linas Agro Group obtain clearance in Latvia for its acquisition of the Kauno Grudai Group (as reported by CEE Legal Matters on March 4, 2021).
The Cobalt team included Managing Partner Irmantas Norkus, Partners Guntars Zile and Ugis Zeltins, Specialist Counsel Sandra Juozaitiene, Senior Associates Elina Locmele, Diana Zepa, Inga Tenisa, Ivo Maskalans, and Agnese Gerharde, and Associates Vadims Zvicevics, Maira Puzule, and Toms Dreika.
Cobalt did not respond to our inquiry on the matter.
