IFLR1000, the annual directory of the world's leading financial law firms, published its latest rankings for 2009-2010 with SORAINEN recommended in all its jurisdictions in the Baltics and Belarus.
SORAINEN Lithuania continues to be positioned in the top tier in mergers and acquisitions and in the second tier for its banking and finance practice, with one client commenting: "They are exceptional. They are now our trusted advisors and have repeatedly demonstrated an ability to add value to our business." Recent deals included advising Polish oil company PKN Orlen on its purchase of the remaining 10% stake in Mažeikių nafta from the Lithuanian Government for USD 285 million and Hewlett Packard on its global merger with Electronic Data Systems. The firm also represented Barclays Bank on establishing a service centre in Lithuania, where securing the government's financial support was central to the deal, a first for a foreign investor, via an unprecedented incentives programme.
SORAINEN Estonia is ranked in the second tier for its financial and corporate practice. Among the most noteworthy deals were advising Eksportfinans, Norway's export credit institution, on its financing of three ferries with a total value of EUR 81 million, a significant figure in the 2009/2010 banking sector, and acting for the government in a defence public-private partnership (PPP), the first of its kind in the country, to construct a military base and training centre worth up to EUR 70 million.
SORAINEN Latvia is also ranked in the second tier for financial and corporate work. In the last year the firm advised food manufacturer Rīgas Miesnieks in its purchase of a controlling stake in competitor Jelgavas gaļas kombināts, road-sign manufacturer Signaux Girod in its takeover of competitor M-2 and the European Bank for Reconstruction and Development in providing a EUR 150 million unsecured loan to Latvenergo.
SORAINEN Belarus receives a second tier position for its financial and corporate work, with IFLR1000 commenting that "SORAINEN is quite possibly the most serious and involved of the foreign firms in the market. It has a big team of 15 lawyers that has won the seal of approval from clients such as the European Bank for Reconstruction & Development (EBRD) and the International Financial Corporation (IFC), and is the only firm with the Lloyds Register Quality Assurance."
IFLR1000, part of Euromoney Legal Media Group, is the only publication of its kind to focus on leading law firms for corporate finance worldwide. Now in its 21st edition, the guide provides rankings based on extensive independent research in more than 120 markets.
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