PSA Acquires 50% Stake in Parnu Sadam from Transcom
Deal News | Dec 02, 2024 | CEE Legal Matters
Cobalt has advised PSA on its acquisition of a 50% share in Parnu Sadam, a major port operator located in Parnu, Estonia, from Transcom. Parnu Sadam is renowned for its management of shipping traffic, stevedoring, and warehousing operations. The facility sees over 500 merchant vessels annually and handles roughly 2 million tons of goods. The legal advisory team from Cobalt included Managing Associate Ott Aava, Senior Associate Kerli Salu, and Associate Elis Toim. Cobalt did not respond to inquiries made regarding the acquisition.
Sectors
- Maritime and Port Operations
- Legal Services
Geography
- Estonia – The acquisition target, Parnu Sadam, and the port it operates are located in Parnu, Estonia.
Industry
- Maritime and Port Operations – The article centers around the acquisition of Parnu Sadam, which provides port services including stevedoring and warehousing, typical of the maritime industry.
- Legal Services – The involvement of law firm Cobalt in advising the acquisition indicates the importance of legal services in structuring and executing M&A transactions.
Financials
- 50% stake – PSA acquired this portion of Parnu Sadam shares from Transcom.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PSA | Bidder | Company | PSA is the company acquiring a 50% stake in Parnu Sadam. |
| Parnu Sadam | Target company | Company | Parnu Sadam operates port services in Parnu, Estonia. |
| Transcom | Vendor | Company | Transcom is selling its 50% stake in Parnu Sadam to PSA. |
| Cobalt | Legal advisor | Company | Cobalt is the law firm advising PSA on the acquisition. |
| Ott Aava | Managing Associate | Person | Part of the Cobalt legal team advising on the deal. |
| Kerli Salu | Senior Associate | Person | Part of the Cobalt legal team advising on the deal. |
| Elis Toim | Associate | Person | Part of the Cobalt legal team advising on the deal. |