Deals and cases
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09.04.2021
TGS Baltic successfully represented the former directors and shareholders of the bankrupt private limited company in a dispute
TGS Baltic team successfully represented the bankrupt private limited company's former directors and shareholders in a dispute following a claim for damages brought by the bankrupt credit union AMBER.
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06.01.2021
TGS Baltic advised Luminor Bank on arranging syndicated financing
TGS Baltic represented Luminor Bank, the third largest financial services provider in the Baltic banking market, which together with Šiaulių bankas is lending EUR 44 million in equal parts for a new shopping centre project – 62,000 m² shopping mall Vilnius OUTLET.
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31.12.2020
TGS Baltic represented the European Investment Bank on signing an exclusive deal with Šiaulių bankas for the establishment and management of a EUR 200 million renovation fund
Šiaulių bankas signed an agreement with the European Investment Bank (EIB) for the establishment and management of a EUR 200 million renovation fund for multi-apartment buildings.
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30.11.2020
TGS Baltic successfully advised Citadele Banka on receiving a merger clearance from the Competition Council of the Republic of Lithuania
TGS Baltic advised Citadele Banka on receiving a merger clearance from the Competition Council regarding the acquisition of UniCredit Leasing.
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29.10.2020
TGS Baltic Latvia and Estonia provided legal support to joint global co-ordinators and joint bookrunners with respect to IPO of 20,000,000 shares of AB “Ignitis grupė”, as part of which EUR 450 million were raised.
TGS Baltic Latvia and Estonia provided legal support to joint global co-ordinators and joint bookrunners with respect to the initial public offering (IPO) of 20,000,000 shares of AB “Ignitis grupė”, a leading utility and renewable energy company in the Baltics, as part of which the company raised capital in the amount of 450 million euros.
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09.10.2020
TGS Baltic advised Evernord on obtaining a category B licence of a financial brokerage firm
We advised Evernord – an investment firm based in Vilnius, Lithuania – on obtaining a category B licence of a financial brokerage firm.
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15.07.2020
TGS Baltic represented Opera Limited in the acquisition of Fjord Bank
TGS Baltic team advised Opera Limited – one of the world’s leading browser providers with more than 360 million users, and new offerings across content, classifieds and fintech - on the acquisition of Fjord Bank.
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04.05.2020
TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in issuance of two issues of Eurobonds for a record amount of EUR 2 billion
TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in structuring and issuing two issues of Eurobonds for the total value of EUR 2 billion.
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28.04.2020
TGS Baltic advised Šiaulių bankas on its 20 MEUR bond listing on Nasdaq Vilnius
TGS Baltic advised Šiaulių bankas on listing on Debt Securities List of Nasdaq Vilnius non-publicly issued 20 MEUR of subordinated bonds, which will soon be admitted to trading on this regulated market.
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10.03.2020
TGS Baltic assisted Rabobank in relation to a financing transaction in Latvia
TGS Baltic advised Coöperatieve Rabobank U.A. in relation to a financing transaction and creation of appropriate security in Latvia. The financing was provided to a Latvian company engaged in fishing - SIA Batterfiša with Dutch origin, for the purposes of refinancing existing liabilities and working capital needs.
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02.03.2020
TGS Baltic assisted CVI on preparation and negotiation of a secured mezzanine bonds transaction
TGS Baltic assisted CVI Dom Maklerski sp. z o.o. (CVI ) in arranging financing to SIA Riga Retail Park for the purposes of co-financing acquisition of real property as well as construction and development of the Saga Lifestyle and Shopping Centre in Stopini, a suburb of Riga, Latvia, by the Baltic real estate developer, VPH UAB.
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12.01.2020
TGS Baltic advised Šiaulių bankas on the acquisition of the retail loan portfolio of EUR 125 million
We advised Šiaulių bankas, country’s largest Lithuanian-capital bank, on the acquisition of the retail credit portfolio with a value of EUR 125 million. Most of the portfolio consists of the mortgage loans.
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04.09.2019
TGS BALTIC Latvia successfully represents leading Latvian hotel operator Mogotel (www.mogotel.com)
TGS Baltic successfully represented Mogotel www.mogotel.com, a Latvian hotel operator.
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29.08.2019
TGS Baltic assisted Bergs Timber AB on a refinancing transaction
TGS Baltic advised Bergs Timber AB group companies in Latvia – Vika Wood and Byko-Lat on Latvian law matters in relation to the group refinancing transaction with Danske Bank and Svensk Exportkredit of the senior term and revolving facilities with the total value of SEK 622,000,000 and EUR 12,000,000, where the Latvian companies acted as guarantors.
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20.06.2019
TGS Baltic advised the Ministry of Finance of Lithuania on two eurobond issues with a total value of EUR 1.5 billion
TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in structuring and conducting two issues of eurobonds for a total value of EUR 1.5 billion.
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01.06.2019
TGS Baltic advised the European Investment Bank (EIB) on the financing of energy efficiency projects
TGS Baltic advised the European Investment Bank (EIB) on the financing of energy efficiency projects through funds Jessica I and Jessica II. The success of the pre-financing scheme employed for the financing of the renovation of multi-apartment buildings showed that the banks may be ready to get involved in the financing of this sector with their own funds.
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01.02.2019
TGS Baltic represented Ūkio Bankas against Deloitte Lietuva and Deloitte Touche Tohmatsu Ltd
TGS Baltic's team represented Ūkio Bankas against Deloitte Lietuva and Deloitte Touche Tohmatsu Limited in a claim for of over EUR 100 million for an improperly performed audit.
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21.01.2019
TGS Baltic's team successfully defended Bank Snoras
TGS Baltic together with the prominent Austrian law firm Graf & Pitkowitz Rechtsanwälte successfully defended Bank Snoras before the Vienna International Arbitral Centre (VIAC) in a complex declaratory relief claim sought by another major Austrian bank. Arbitration comprised issues of applicable law, AML regulations, back-to-back loan agreements, requirements for financial institutions and difficult jurisdictional issues. After a two-year legal battle, on 21 January 2019, VIAC arbitral tribunal rendered a decision in favor of Snoras, dismissing the declaratory relief sought by the claimant. TGS Baltic was the leading counsel of the arbitration.
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08.01.2019
TGS Baltic assisted Expobank CZ a.s. with financing the acquisition of the Radisson Blu Daugava Hotel by Astor Group (Latvia) from PBR Hotel (USA)
TGS Baltic assisted Expobank CZ a.s. with financing the acquisition of the shares of SIA POLAR BEK DAUGAVA (now merged into SIA LAMPL which is owned by two private individuals through SIA RHG RIGA), the owner of the Radisson Blu Daugava Hotel.
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06.12.2018
TGS Baltic advised Šiaulių Bankas in the admission of a EUR 20 million bond issue to trading on Nasdaq Vilnius
The bonds were admitted to trading on the said regulated market at the beginning of December.
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