Deals and cases
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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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28.05.2021
TGS Baltic advised Akropolis Group on EUR 300 million Eurobond issue
We advised Akropolis Group, the leading shopping and entertainment centre development and management company in the Baltic States, on EUR 300 million Eurobond issue.
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20.05.2021
TGS Baltic in cooperation with Vinge assisted Lagercrantz Group (publ) (Sweden) in the acquisition of shares from Libra-Plast (Norway) having group companies in Latvia.
TGS Baltic and Vinge assisted Lagercrantz Group AB (publ) (Norway), a technology group company listed in Stockholm Stock Exchange, in acquiring 75% of the shares in the Norwegian company Libra‑Plast AS (https://www.libra.no/). TGS Baltic ensured all the necessary transactional support with respect to Libra-Plast group companies in Latvia – Libra Plast SIA and Lanos SIA.
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17.05.2021
TGS Baltic provided legal assistance to the European Central Bank on Latvian law matters related to appeals of the orders of the General Court of European Union dismissing as inadmissible actions for annulment of the acts declaring ABLV Bank and its subsidiary, ABLV Bank Luxembourg SA, as failing or likely to fail.
TGS Baltic provided legal assistance to the representatives of the European Central Bank (ECB) on certain Latvian law matters related to rejection of the appeals of ABLV Bank AS and Mr. Ernests Bernis, Mr. Oļegs Fiļs, OF Holding SIA and Cassandra Holding Company SIA requiring setting aside of the orders of the General Court of the European Union of 6 May 2019, ABLV Bank v ECB (Case C‑551/19 P), and the order of 6 May 2019, Bernis and Others v ECB (Case C‑552/19 P), by which the General Court dismissed as inadmissible their actions for annulment of the acts of the ECB of 23 February 2018 by which the ECB declared that ABLV Bank and its subsidiary, ABLV Bank Luxembourg SA, were failing or were likely to fail.
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10.05.2021
We advised FitSphere on raising seed-round investment from various investors
TGS Baltic drafted the relevant transaction documents and advised the client on the whole process from negotiating the shareholders’ agreement with the lead investor to finalising the capital raising.
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10.05.2021
TGS Baltic advised Evernord on the biggest freeze-dried food business in the Baltic States Dehidra’s EUR 4 million bond issue
We are delighted to contribute to the successful placement of the bonds by Evernord, an investment firm based in Vilnius, Lithuania. The initiator of the EUR 4 million bond issue was the biggest freeze-dried food business in the Baltic States and one of the biggest in Northern Europe, Dehidra.
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22.04.2021
TGS Baltic advised founders of Strive, a North America focused technology company, on the sale of Strive Platform shares worth EUR 5,4 million
TGS Baltic team advised founders of Strive, a North America focused technology company, on the sale of Strive Platform shares worth EUR 5,4 million. Strive is backed by TG Lab, international iGaming technology and development company.
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