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Private Equity & Venture Capital

We are experts in every aspect of private equity, across a broad range of industries. Our firm advises on some of the highest-profile issues and our clients appreciate the rigor of our approach in protecting their business interests. Ellex Valiunas represents private equity institutions, management teams, debt providers and portfolio companies through all stages of the private equity life cycle and provides efficient and cost-effective legal representation of venture capital funds.

Key contacts

Dr. Robertas Čiočys

Partner

Head of M&A, Private Equity and Corporate Establishment Team
+370 52681844
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Key projects in the field

Deal closed: we advised Blackstone on completing the acquisition of a majority stake in Luminor bank for EUR 1 billion
30-09-2019
 
On September 30, 2019 after approvals from the Baltic regulators, the European Commission and the European Central Bank, the US private equity giant Blackstone Group has closed its acquisition of a 60 % majority stake in Luminor, one of the leading banks in the Baltics, from its owners, Nordea Bank and DNB bank, for EUR 1 billion. 
 
Nordea Bank and DNB bank will retain an equal 20 % equity stake in Luminor. Additionally, Blackstone has entered into an agreement with Nordea to purchase their remaining 20 % stake over the coming years.
 
Ellex together with the global law firm Allen & Overy advised Blackstone on the acquisition of a controlling stake in Luminor. This deal is the largest M&A deal in Baltic history.
 
Luminor was created through a merger in 2017 of the banking operations of Nordea bank and DNB bank in the Baltics. It is the third largest bank in the Baltic region.
 
Blackstone is one of the world’s leading investment firms founded in 1985. The firm has over 24 offices with 2 500 employees worldwide. Blackstone’s portfolio companies employ over 400 000 people across the globe.
 
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We participated in the first public takeover since the financial crisis
Citigroup’s private equity arm, Citi Venture Capital and Invalda - a major investment company, operating mainly in Lithuania and Poland - chose Jefferies as their investment bank for the sale of Sanitas's shares. Sanitas is a generic pharmaceutical company operating in CEE and Russia, which is also listed on NASDAQ OMX Vilnius stock exchange. We helped Jefferies to sell Sanitas's shares to Valeant Pharmaceuticals, a multi-national specialty pharmaceutical company.
We assisted Insighted Venture Partners to invest in the online clothing market Vinted.com
Insight Venture Partners, a leading global private equity and venture capital firm, acquired a minority shareholding in Friendly Fashion Limited. This company manages vinted.com – the online social platform for swapping, selling or giving away second hand clothing. At that point the platform had over 2.4 million active members and operates in Germany, France, Poland, Czech Republic, Lithuania and the USA. We advised the investor on all Lithuanian law issues of this transaction, which at its time was the largest venture capital investment into a Lithuanian start-up.