Deals and cases

Deals and cases

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  • 29.04.2022

    TGS Baltic represented EIB in signing an operational agreement with Šiaulių bankas for establishment and management of EUR 275 million renovation fund. It is the first fund of this type in Europe, intended for performance of a public function

    We represented the European Investment Bank (EIB), as the manager of the European Regional Development Fund (ERDF), in granting a loan of EUR 90 million together with the Government of Lithuania to Šiaulių bankas, intended for its new subsidiary SB modernizavimo fondas. This loan is partly composed of funds from the European Structural and Investment Fund (ESIF). EUR 275 million loans in total, were granted to SB modernizavimo fondas also by other top-profile investors: Council of Europe Development Bank (CEB), INVL Asset Management, Swedbank, Šiaulių bankas and Nordic Investment Bank (NIB).

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  • 27.04.2022

    Successfully represented AS Tartu Agro in Supreme Court

    TGS Baltic senior associates Triin Kaurov and Triinu Järviste represented AS Tartu Agro in the Estonian Supreme Court as a result of which, the Ministry of Rural Affairs must give out a legal opinion concerning the decision of the European Commission on unlawful state aid made against Tartu Agro. The team also included Mari-Liis Orav and Robin Luts.

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  • 26.04.2022

    Sunly acquired Polish solar power developer Alseva

    TGS Baltic senior associates Sander Kärson, Maris Vutt, and Kärt Raud advised the renewable energy producer Sunly on its acquisition of a 100% holding in the Polish solar power business Alseva Group.

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  • 21.04.2022

    TGS Baltic advised I Asset Management in obtaining a license to operate throughout the EU

    We advised the asset management company I Asset Management in obtaining an alternative investment fund manager license under the Alternative Investment Funds Managers Directive (AIFMD).

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  • 20.04.2022

    TGS Baltic successfully defended the interests of Klaipėdos nafta before the court of first instance

    TGS Baltic team represented the client, one of the largest energy resources logistics companies in the Baltic States, in the court of first instance, proving that the company's shares were legally granted to its employees: the transactions comply with legal regulations and international practice.

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  • 18.04.2022

    TGS Baltic senior associates Kedli Anvelt and Paul Varul successfully represented Marcel Vichmann’s company in filing a bankruptcy petition against Oliver Kruuda

    TGS Baltic senior associates Kedli Anvelt and Paul Varul successfully represented Marcel Vichmann’s company OÜ Best Idea in filing a bankruptcy petition against Oliver Kruuda. This is a court action that started in May last year and was terminated by the order of the Estonian Supreme Court not to hear Oliver Kruuda's appeal against the court order.

    This is a precedent-setting case in Estonian judicial practice, where Kruuda failed to avoid bankruptcy in Estonia even though he had started to conceal himself in Estonia to avoid bankruptcy proceedings and he managed to achieve the declaration of bankruptcy in Ireland before the declaration of bankruptcy in Estonia. The situation is unique because proceedings are taking place in Estonia and Ireland at the same time, and Estonian courts have found that an earlier bankruptcy order rendered in Ireland does not impede the conducting of Oliver Kruuda’s bankruptcy proceedings in Estonia.

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  • 11.04.2022

    TGS Baltic advised AUGA Group and its main shareholder on the delisting of the company's shares from the Warsaw Stock Exchange and implementation of a respective mandatory tender offer

    TGS Baltic advised AUGA Group and its main shareholder on the delisting of the company's shares from the regulated market on the Warsaw Stock Exchange and the implementation of a mandatory tender offer aiming the delisting the company's shares from trading on the regulated market.

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  • 10.04.2022

    TGS Baltic advised LHV Pension Funds on the acquisition of the first office building in Estonia designed according to the Green Building concept

    TGS Baltic experts advised LHV Varahaldus AS which manages LHV Pension Funds on acquiring the registered immovable located at Sõpruse pst 157, Tallinn, Estonia.

    Varahalduse Kinnisvarainvesteering 004 OÜ, which belongs to LHV Varahaldus AS, entered into a contract with OÜ Sõpruse 157 to acquire the registered immovable located at Sõpruse pst 157. The owner of Varahalduse Kinnisvarainvesteering 004 OÜ is LHV Group, which is listed on the Tallinn Stock Exchange, through LHV Varahaldus.

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  • 05.04.2022

    TGS Baltic advised Vilnius Jesuit High School in establishing the Europe’s first school-based untouchable capital fund

    We advised Vilnius Jesuit High School in officially establishing the Europe’s first school-based untouchable capital sponsorship fund on 2 February 2022.

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  • 01.04.2022

    TGS Baltic has successfully defended interests of a group of employees against Ryanair in the court of first instance

    10 former employees of Ryanair were unlawfully dismissed. The employer, in the course of transfer of a part of the business, did not offer the employees the same employment conditions with the new employer (the business assignee), but decided to dismiss employees due to excessive work functions. Employees, as flight attendants, were not given extended annual leave while working for Ryanair, either.

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  • 31.03.2022

    TGS Baltic advised on the largest healthcare clinic merger in Lithuania

    TGS Baltic represented InMedica and its shareholders INVL Baltic Sea Growth Fund, one of the largest Baltic private equity funds, and UAB Litgaja, the holding company of Mr. Kęstutis Broniukaitis, the founder and the CEO of InMedica, on merging the leading Lithuanian private medical chains InMedica and MediCA Group. This is the largest transaction in Lithuanian healthcare sector to date.

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  • 31.03.2022

    TGS Baltic advised ZAKA Startups who led the Alpha AR investment round

    TGS Baltic advised ZAKA Startups on leading a EUR 728,000 investment round in Alpha AR OÜ. Alpha AR plans to use the raised financing to develop its 3D-modelling platform.

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  • 23.03.2022

    TGS Baltic advises Maxima Grupė on structuring the Commercial Paper Programme

    TGS Baltic has successfully advised Maxima Grupė in structuring the Commercial Paper Programme and the issuance of EUR 35 million of notes under the programme.

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  • 21.03.2022

    We advised AS Eesti Post on the acquisition of the newspaper delivery service provider AS Express Post

    Law Firm TGS Baltic experts Triinu Järviste, Kadri Kallas, and Mari Anne Valberg advised AS Eesti Post on the transaction by which AS Ekspress Grupp and AS Postimees Grupp sell the shares of AS Express Post, which is providing the newspaper delivery service in bigger cities, to Omniva.

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  • 17.03.2022

    Cybernetica sells its digital air traffic management tower technology to Adacel

    TGS Baltic advised Cybernetica on selling their digital air traffic management tower technology to Adacel, a global leader in providing air traffic management technology and services.

     

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  • 28.02.2022

    TGS Baltic Assisted INVL Baltic Sea Growth Fund With Its Acquisition of Latvian Cosmetics Producer B2Y.

    On 9 February 2022, INVL Baltic Sea Growth Fund (“the Fund”), one of the largest private equity investment funds in the Baltic region, completed the acquisition of a 100 percent stake in B2Y, a growing personal care products and cosmetics producer headquartered in Latvia. B2Y will continue to be led by its founder and CEO Rita Lagzdiņa.

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  • 15.02.2022

    TGS Baltic advised Green Genius, one of Europe's leading renewable energy companies, on acquiring a 85-MW wind farm in Lithuania

    Our client Green Genius, an international renewable energy company, has signed an agreement to purchase 100% of the shares in the company having rights to develop85 MW wind farm in Lithuania. 

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  • 10.02.2022

    TGS Baltic has acted as the leading legal advisor for Euroapotheca in EUR 700 M transaction

    TGS Baltic has advised Euroapotheca, UAB in joint venture with Oriola Corporation, which will be a merger of the Swedish pharmacy businesses of both the parties: Euroapotheca’s Apoteksgruppen and Oriola’s Kronans Apotek. The transaction will create the third largest pharmacy chain in Sweden.

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  • 01.02.2022

    TGS Baltic advised BaltCap on the sale of BPT Real Estate, one of the largest property management companies in the Baltics, to Newsec

    TGS Baltic advised BaltCap, the largest private equity investor in the Baltic region, selling one of the largest property management companies in the Baltics – BPT Real Estate.

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  • 18.01.2022

    TGS Baltic advised financial brokerage company Myriad Capital on obtaining a category B licence of a financial brokerage firm

    TGS Baltic advised Myriad Capital, FMĮ on obtaining a category B licence of a financial brokerage firm that will allow the company to trade securities on behalf of clients, provide securities' accounting and custody services.

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