PSA Acquires Stake in Parnu Sadam from Transcom
Deal News | Dec 02, 2024 | CEE Legal Matters
Cobalt has advised PSA International Pte Ltd on the acquisition of a 50% stake in Parnu Sadam, a prominent shipping and logistics company in Parnu, Estonia, from Transcom. This transaction highlights the strategic significance of Parnu Sadam, which serves as a crucial node in the regional logistics network by providing stevedoring, warehousing, and ship management services. The port handles approximately 2 million tons of cargo annually and is frequented by over 500 merchant vessels. Legal advisory for PSA was handled by Cobalt, with a team comprised of Managing Associate Ott Aava, Senior Associate Kerli Salu, and Associate Elis Toim. Despite the notable development, Cobalt did not offer additional commentary on the acquisition.
Sectors
- Logistics and Transportation
- Legal Services
Geography
- Estonia – Parnu Sadam is located in Parnu, Estonia, making the transaction significant to the local economy and regional logistics.
Industry
- Logistics and Transportation – Parnu Sadam operates in the logistics and transportation industry, providing essential services like ship traffic management, stevedoring, and warehousing within Estonia.
- Legal Services – Cobalt, a law firm, played a crucial role in the legal advisory process involved in this acquisition.
Financials
- 50% – The stake acquired by PSA in Parnu Sadam.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PSA International Pte Ltd | Acquirer | Company | A global port operator acquiring a 50% stake in Parnu Sadam. |
| Parnu Sadam | Target Company | Company | A prominent Estonian port company providing stevedoring, warehousing, and marine logistics services. |
| Transcom | Selling Company | Company | The seller of the 50% stake in Parnu Sadam. |
| Cobalt | Legal Advisor | Company | The legal firm providing advisory services to PSA on this acquisition. |
| Ott Aava | Managing Associate | Person | Led the Cobalt legal team advising PSA. |
| Kerli Salu | Senior Associate | Person | Part of the Cobalt legal team advising PSA. |
| Elis Toim | Associate | Person | Part of the Cobalt legal team advising PSA. |