Cobalt has advised Italian company Italferr on its successful participation in the EUR 141.5 million Rail Baltica public procurement process for the provision of engineering consultancy and construction supervision services for the construction of the mainline in Latvia.

TGS Baltic has advised the Modus Asset Management-operated Clean Energy Infrastructure Fund on the acquisition of a 55-megawatt portfolio of solar projects in Latvia from developer Evecon, via the Clean Energy Investments special purpose vehicle. Sorainen reportedly advised Evecon on the deal.

Ellex Klavins has advised Merito Partners on the set up of its first alternative investment fund – the Merito Sustainable Energy Fund I AIF – and on its acquisition and development, together with Saules Energy, of seven photovoltaic power generation projects, two of which became operational in July and August 2023.

Cobalt has successfully represented Germany's Bauer Spezialtiefbau before the Administrative District Court in a dispute related to a VAT refund for the company against the State Revenue Service of Latvia.

Wolf Theiss has advised Latvian private equity fund INVL Baltic Sea Growth Fund and its portfolio company Eco Baltia on the acquisition of a 70% stake in Polish PVC recycler Metal-Plast. Ozog Tomczykowski advised the target's shareholders on the sale. Sorainen reportedly advised INVL and Eco Baltia as well.

Cobalt has advised the Astor Group on its EUR 25 million loan from Rietumu Banka to support the development and operation of its hotel properties in Riga.

Cobalt has advised Change Ventures on leading a EUR 3.6 million investment round into Latvian advertising experience platform Monetizr, with the participation of Techstars and Ludus Ventures.

Njord has advised Latvia's University College of Economics and Culture on the topic of intellectual property protection issues related to student works created within the "Innovation grants for students in interdisciplinary fields of art, culture, economics, and IT (MaKE IT)" European Regional Development Fund project.

Cobalt has advised the BaltCap Private Equity Fund III and investment company Draugiem Capital on their acquisition of a majority stake in Latvia-based multi-sector production company Pepi Rer. RER Lextal reportedly advised Pepi Rer.

On August 2, 2023, Ellex announced that Eesti Gaas’s acquisition of Gaso from Latvijas Gaze (reported by CEE Legal Matters on April 28, 2023) had closed in July 2023.

The EU Directives on Work-life balance and on Transparent and predictable working conditions were introduced into the Latvian national legislation in August 2022 and brought about significant changes and obligations for the employers. What do they mean for businesses?

Ellex has advised telecommunications infrastructure company Baltic Rezo on a EUR 30 million loan from SEB Bank.

At the end of 2021, the Regulation (EU) 2020/1503 of the European Parliament and of the Council of October 7, 2020, on European crowdfunding service providers for business (EU Crowdfunding Regulation) entered into force. In light of the regulatory requirements, existing crowdfunding platforms with prior authorizations under national rules shall receive authorization under the new regulatory framework by November 10, 2023.

Cobalt has advised AS Toode majority shareholder Amber Trust II SCA on the sale of its shares to Kingspan Group company Joris Ide NV.

Cobalt has advised Latvian construction equipment rental company Storent Holdings on its EUR 10.5 million issuance of bonds with an 11% interest rate and December 2025 maturity as well as on their listing on the Baltic Bond List of Nasdaq Riga on June 27, 2023.

Cobalt has advised Hepsor Latvia on its sale of the property located at Ulbrokas Iela 30 in Riga to the East Capital Real Estate Fund IV in a share deal. Vilgerts advised the East Capital fund.

Cobalt has advised BaltCap Private Equity Fund III on its acquisition of HansaMatrix via subsidiary SIA Emsco.

At the end of 2022, the Latvian Supreme Court finally made a judgment in one of the dozens of civil cases stemming from the so-called Zolitude tragedy. 54 people died and dozens were injured back in 2013, when the roof of a trade center located in one of the suburbs of Riga, Zolitude, collapsed.