Sorainen advised Havas Media Group in acquiring 51% of the shares in Idea Group, which is said to be one of the biggest investments in the Baltic marketing and communications market.
Havas was founded in Paris in 1835 and is now one of the world’s biggest communication agencies with a turnover of more than EUR 2.2 billion last year. The group operates in more than 100 countries and employs over 20,000 people.
Sorainen assisted the client throughout all the stages of the transaction, incl drafting transaction documentation, representing the client in negotiations and conducting legal due diligence where the firm successfully employed the artificial intelligence platform Luminance, which uses machine learning to read and analyse contracts and other documents, thus improving the efficiency of the processes.
The pan-Baltic team advising the client was led by partner Toomas Prangli, senior associates Kai Vainola and Piret Lappert from Estonia, senior associate Janis Bite from Latvia, and associate Inga Macijauskaitė from Lithuania.