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Deals

“Outstanding strategic thinkers.” (Legal 500, 2016)

27.06.2017

Cgates raises new capital from Livonia Partners

Livonia Partners will acquire a stake in Cgates, the second largest cable operator in Lithuania. Cgates is currently owned by Polaris Invest and Com Holding, Estonian investment companies belonging respectively to Indrek Kuivallik and Marju Kern.

Over the past several years, Cgates, which now employs over 300 people and has an annual revenue of app 19.5 million euros, has been actively consolidating the Lithuanian telecommunications market and intends to continue growing its market share through further acquisitions, now in partnership with Livonia Partners. The transaction will be completed when regulatory approvals are obtained.

Cgates was formerly owned by Starman, a leading Estonian telecommunications company, which was acquired by Elisa earlier this year. As part of the acquisition, Starman’s Lithuanian holdings were sold to Polaris Invest and Com Holding.

Primus’es Estonian and Lithuanian offices represented Cgates and its current shareholders. Our team was led by partners Anton Sigal and Ermo Kosk in Tallinn, and Giedre Dailidenaite in Vilnius.

Contacts

Estonia

Kai 1, 10111, Tallinn

Latvia

Kr. Valdemara str. 21, LV-1010, Riga

Lithuania

Konstitucijos av. 7, LT-09308, Vilnius

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