BELARUS NEWS AND ANALYSIS

DATE:

27/01/2009

Law firm Glimstedt starting activity in Belarus

Glimstedt, law firm belonging to one of the largest Scandinavian law firm alliances, opened an office in Minsk (Belarus). It is one of the first international law firms that offer their services in Belarus.

Referring to their experience in the Baltic States, Glimstedt lawyers expect to participate in formation of Belarusian market as well as consulting in areas of privatization, mergers and acquisitions and finance sector.

Law office in Minsk will be directly administered by Jan Litborn, Fredric Forsman and Egidijus Bernotas, partners from Sweden and Lithuania.

"Belarusian market has many opportunities to offer. This country attracts business people for its potential in fields of energy, food industry, retail, public utilities and others", says Egidijus Bernotas, partner of Glimstedt law offices in Lithuania and Belarus.

According to the lawyer, Belarusian market is still controlled but is rapidly becoming more liberal. These changes are encouraged by International Monetary Fund, European Bank for Reconstruction and Development, Swedish investment fund Swedfund which participate in the economy of Belarus.

Bernotas says that it is expected to develop the office in Minsk up to 30 lawyers. Expansion of the law firm would proceed according to Belarusian market development.

"Lots of market players of Belarusian market still do not know which legal instruments are possible and usual in Western world. Certainly, not all Western means can be used in Eastern countries - we are aware of that from the history of Baltic States' development. Therefore, we modify legal solutions offered to Belarusian market according to the factors that are adequate for Eastern economy", says the lawyer.

Lithuanian law firm Bernotas & Dominas Glimstedt has been previously representing Belarusian entities.

Glimstedt has more than 70 years of experience in the field and is represented by offices in Sweden, Tallinn, Riga and Vilnius. Currently around 180 lawyers work with specialization in commercial law work within law firms of Glimstedt alliance.

Lithuanian law firm Bernotas & Dominas Glimstedt operates for 12 years and participates in many major international deals.

About Bernotas & Dominas Glimstedt

Bernotas & Dominas Glimstedt law firm was established in Lithuania in 1997. Currently it unites around 30 lawyers.

Major deals of the year 2008 which involved participation of Bernotas & Dominas Glimstedt lawyers: sale of the majority stake in LKAB Klaipedos Smelte; advising Verdispar group on acquisition and lease-back of 9 Maxima retail stores; advising Royal Unibrew A/S on successful squeeze-out of minority shareholders in AB Kalnapilio-Tauro Grupe; advising Deka Immobilien GmbH on successful acquisition of Akropolis, Kaunas, the shopping and entertainment centre; advising Crudex, a Russian exporter of petroleum and petrochemical products, in its acquisition of shares in a Cyprus company, which holds the right to acquire part of a business centre being developed in Moscow.

Kontaktinis (-iai) asmuo (-enys):

Egidijus Bernotas

Glimstedt law firm partner in Lithuania and Belarus

Tel. +370 5 269 0700

E-mail e.bernotas@glimstedt.lt

www.glimstedt.lt

Rita Saunoryte Norutiene

Communication agency "Bosanova" account manager

Tel. +370 5 216 2354

Mob. +370 655 32 547

E-mail rita@bosanova.lt

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