OREANDA-NEWS. August 05, 2009. Sorainen advised If, the leading indemnity-insurance group in Estonia and in the Baltic States, in merging its daughter companies in Estonia, Latvia, and Lithuania into one corporate body, which is located in Estonia with branch offices in Latvia and Lithuania. The company operates by the name If P&C Insurance AS in all three Baltic countries. It is the first cross-border merger in the Baltic States and one of the first in Europe that is based on the European Union Directive on Cross-Border Mergers, reported the press-centre of Sorainen.

Sorainen was the legal adviser in all three Baltic States throughout all merger-related issues. The transaction commenced after Estonia, Latvia, and Lithuania had all adopted the Directive on Cross-Border Mergers. It was the most complicated cross-border mergers in the Baltic region, because the officials and participants lacked experience on how to implement the relevant, new legislation which conflicted in the three countries, for example, the timing of giving out licenses by the financial supervising offices, the complexity of the documents, etc. Regardless, the transaction was successful and timely.

The Sorainen team in this transaction was led by partners Karin Madisson, Tomas Kontautas, Eva Berlaus-Gulbe.