Deals and cases
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20.09.2021
We advised LHV pension funds on acquiring a production building from Ensko Ensek AS
The purpose of the transaction was to grow the rental property portfolio of LHV pension funds, managed by LHV Asset Management, incl. to increase the percentage of storage and industrial area in the current property portfolio.
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16.09.2021
TGS Baltic advised UAB Valstybės investicinis kapitalas, which invests into the Lithuanian Aid for Business Fund, in approval of EUR 400 million state-guaranteed note program and placement of the inaugural EUR 30 million issue
TGS Baltic is proud at having had the opportunity to contribute to the successful approval of EUR 400 million state-guaranteed note program of UAB Valstybės investicinis kapitalas, a limited partner of the Lithuanian Aid for Business Fund, and placement of the inaugural EUR 30 million issue under the program. This is the first issue of corporate notes with a state guarantee in the Baltic States.
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13.09.2021
TGS Baltic represented subsidiary of Bigbank in merger control proceedings
Bigbank’s subsidiary Rüütli Majad OÜ acquires two agricultural holdings: Abja Põld OÜ that is engaged in cereal growing and grassland farming, and Abja Farmid OÜ’s enterprise that is engaged in dairy farming.
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13.09.2021
TGS Baltic – together with White&Case – advised Avia Solutions Group on attracting EUR 300 million of investments from Certares Management LLC
We advised Avia Solutions Group (ASG), a leading global aerospace services group, on entering into a strategic partnership with investment specialist dedicated to the travel, tourism, and hospitality sectors Certares Management LLC (Certares) through a EUR 300 million structured equity investment in the Group.
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10.09.2021
TGS Baltic advised Estateguru on raising series A round investment of EUR 5.8M
Founded in 2013, Estateguru is the leading Pan-European marketplace that facilitates property-backed loans for developers/SMEs and investment opportunities for their global investor base.
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09.09.2021
TGS Baltic advised the venture capital fund OTB Ventures as the lead investor in Fractory’s 7.5 MEUR Series A round
The transaction is the first investment of the venture capital fund OTB Ventures in Estonia and is also one of the largest early-stage capital raisings in Estonia. OTB Ventures operates mainly in Central and Eastern Europe and focuses on early-stage high-tech start-ups. With the investment, the start-up Fractory, which is developing a cloud-based metal work ordering platform, plans to grow its team and enter new markets in the USA, France, and Italy.
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04.08.2021
TGS Baltic successfully represented Orion Asset Management in a dispute with the Bank of Lithuania
We represented one of the longest-running asset management companies in Lithuania, Orion Asset Management, in a case concerning a fine of EUR 40.000 imposed by the Supervisory Authority of the Bank of Lithuania.
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26.07.2021
We advised Merko Ehitus Eesti on acquisition of 35% holding in Connecto Eesti
TGS Baltic advised Merko Ehitus Eesti AS, the largest construction and property development company in Estonia, on the acquisition of a 35% holding in the company Connecto Eesti.
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16.07.2021
We advised Nõo Lihatööstus on repurchase of 29% holding
TGS Baltic’s partners Leonid Tolstov, Kadri Kallas, Helmut Pikmets and associate Maris Vutt advised Nõo Lihatööstus – Estonia’s largest enterprise operated with local capital – on the repurchase of a 29% holding from a competitor with whom they have been engaged in several disputes over the years.
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14.07.2021
TGS Baltic advised a consortium of banks on approx EUR 265 million refinancing of Press Glass, a leading European producer of processed glass
TGS Baltic, together with the cross-border Dentons team, advised a club of four banks, consisting of PKO Bank Polski, ING Bank Śląski, Santander Bank Polska and BNP Paribas Bank Polska, on approx EUR 265 million refinancing of the indebtedness of Press Glass and the financing of its further investments, including new production plants in Lithuania and Wales.
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13.07.2021
TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in EUR 750 million Eurobond issue
We advised the Ministry of Finance of the Republic of Lithuania in structuring and issuing a Eurobond issue worth EUR 750 million for a period of 30 years. This issue will bear 0.75% annual interest.
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13.07.2021
TGS Baltic advised the clients on the acquisition of a qualifying shareholding and voting rights in UAB Medicinos bankas
We advised Mr. Konstantinas Karosas, Western Petroleum Limited and UAB MB valdymas in obtaining a decision of the supervisory authority not to object to the acquisition of the qualifying shareholding and voting rights in UAB Medicinos bankas (the “Bank”).
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12.07.2021
TGS Baltic advised shareholders on the sale of the startup LastMile to Iki, one of the largest retail companies in Lithuania
We are pleased to have advised LastMile shareholders on the sale of the online retailer-startup LastMile to Iki, one of the largest retail companies in Lithuania.
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01.07.2021
We advised BaltCap in its exit from the leading Estonian waste management company AS Eesti Keskkonnateenused.
TGS Baltic advised BaltCap, the largest private equity fund manager in the Baltic states, in its exit from the leading Estonian waste management company AS Eesti Keskkonnateenused.
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01.07.2021
TGS Baltic's senior associates Martti Peetsalu and Silvia Urgas scored an important victory for the Estonian pharmaceutical company AS KEVELT in the Supreme Court.
On 16 June 2021, the Supreme Court ruled in favour of AS KEVELT, a customer of TGS Baltic, holding that a consignor of temperature-sensitive goods such as medicines may assume that the carrier of the goods has a proper action plan for refrigeration equipment failure.
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01.07.2021
TGS Baltic again represented successfully La Campana General Trading LLC, a company of Dubai
TGS Baltic again represented successfully La Campana General Trading LLC, a company of Dubai, in a EUR 325,000 dispute against Cryotech Nordic AS regarding claims arising from an exclusive distribution agreement.
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21.06.2021
The Estonian Financial Supervision Authority granted a payment institution activity licence to Crowdestate
The activity licence grants Crowdestate the right to execute payment transactions, including transfer funds to a payment account opened with a payment service provider.
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16.06.2021
TGS Baltic advised Kilo Health on EUR 300 000 investment in the startup Revolab
TGS Baltic advised Kilo Health, active in health & wellness global market, on EUR 300 000 investment in Revolab, a Lithuanian startup that has developed a smart blood testing app. The investment will be used for product development in the EU and the US.
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02.06.2021
Associate Partner Chirag Mody successfully represented a client in Tallinn Circuit Court
The Circuit Court accepted his explanation and sent the dispute to the County Court for further resolution.
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31.05.2021
TGS Baltic successfully represented LTG Infra in a litigation case concerning construction delay in the Rail Baltica project
We advised LTG Infra, a subsidiary of Lietuvos Geležinkeliai, the largest railway group in the Baltic States, in a dispute between LTG Infra and the consortium of the German capital Estonian company Leonhard Weiss RTE, Hidrostatyba and Autokausta over a delay in the implementation of EUR 54.8 million contract on railway construction from Kaunas to Palemonas, signed in June 2018.
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