OREANDA-NEWS. January 16, 2012. Bloomberg last week released its Global Legal Advisory Mergers & Acquisitions (M&A) Rankings 2011 which ranks law firm SORAINEN in 2nd place among M&A legal advisers in Eastern Europe and among the Top 7 law firms in the Nordic region. This is the highest ever ranking by a law firm from the Baltic and Belarus region. The previous highest ranking among Baltic-Belarus firms is also held by SORAINEN as recognised among the Top 4 legal advisers in Eastern Europe in 2010, reported the press-centre of SORAINEN. 

Bloomberg rankings are based on the number of M&A transactions advised by law firms during 2011, which includes mergers, acquisitions, divestures and certain other qualifying M&A transactions. During 2011, SORAINEN advised on 28 such transactions in the Eastern European market, mainly in the Baltic States and Belarus, earning its high ranking right after major international law firm CMS Cameron McKenna. With 12 transactions advised in the Nordic market, SORAINEN took 7th place, alongside such international heavyweights as Linklaters, White & Case, Hannes Snellman, Freshfields and Allen & Overy.

Among the most notable transactions advised by SORAINEN in 2011 feature the acquisition of Ingman Ice Cream operations in the Baltic States and Belarus by Unilever, acquisition of Nowaco in the Baltics by Bidvest Group, acquisition of the Kristiine Shopping Centre in Tallinn by Citycon, sale of a majority stake in Baltcom to AXA Private Equity and Resource Partners, sale of Fortum Termest and Fortum Elekter by Fortum, acquisition of Kevelt by Pharmsyntez, sale of the Babilonas Shopping Centre in Lithuania.

According to the Bloomberg report, in 2011 the M&A market in Eastern Europe struggled to keep up the results of 2010. Total deal volume of M&A deals in the region dropped by 2.58% (from USD 87.5 billion in 2010 to USD 85.3 billion in 2011), while the total deal number grew by 7% (from 804 in 2010 to 865 in 2011). Global M&A transaction volume remained essentially flat in 2011, falling short of a 4% increase. According to global results, only the Japan market in 2011 experienced a serious boost, raising the total volume of M&A transactions by almost 37%.

"M&A activities were growing in our region during 2011, which helped us to achieve such a high position in the Bloomberg CEE rankings. We also noted a trend that Baltic businesses are now more often considering expansion through acquisitions or attracting private equity investments, which also fuels dealmaking in our region," comments Toomas Prangli, regional head of the SORAINEN M&A and Private Equity Team.

Bloomberg is an American multinational financial news corporation, highly regarded in the global M&A industry.