Deals and cases
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02.05.2023
TGS Baltic advised Ignitis Group on EUR 225 million multi-option facility agreement with MUFG Bank
The energy company Ignitis Group concludes a financing agreement with the European division of the largest Japanese bank MUFG.
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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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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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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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05.02.2020
We advised Nasdaq-listed fintech company Opera on the acquisition of Pocosys
TGS Baltic advised the Opera group, which is listed on stock exchange Nasdaq in the USA, on entry into a contract of purchase for the acquisition of fintech company Pocosys and its sister company, a licensed payment institution, Pocopay from Poco Holding where Indrek Neivelt has a large shareholding.
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10.11.2016
Baltic Ground Services obtained an excise warehouse activity licence and enters the Estonian market
The firm's lawyers advised Baltic Ground Services EE, a subsidiary of Lithuanian capital-based company Baltic Ground Services UAB operating in the aviation sector, in obtaining an excise warehouse activity licence for the sale of JET-A1 fuel in Tallinn Airport.
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22.10.2015
Representing Tallink Group before European Commission in connection with alleged state aid resulting from tax benefits
The firm's competition and tax law team, led by partner Helmut Pikmets, represented the Tallink Group in a procedure conducted by the European Commission in connection with possible illegal state aid resulting from legislation on excise duty and deposit on packaging.
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18.09.2015
Representing Amalfi in litigation with Tax and Customs Board
The firm’s tax team, led by partner Helmut Pikmets, successfully represented Amalfi in a complex legal dispute with the Tax Board. It was the first case in taxation practice when the Tax Board imposed income tax on Amalfi, regarding an immovable in the possession of a shareholder as dividends paid to the shareholder.
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19.04.2014
Representing Nordea Bank Finland Plc in litigation against tax authority
The firm's tax team, led by partner Helmut Pikmets, successfully advised Nordea Bank Finland Plc Estonia branch office in court regarding a dispute with the Tax and Customs Board. The case concerned legal issues related to foreign companies' permanent Estonian branches taxation and corresponding law amendments which entered into force in 2010.
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03.03.2013
Advising Tallink Group on the legislative proceeding of the draft Maritime Safety Act in the Parliament of Estonia
The firm's tax and competition teams, under the leadership of Helmut Pikmets, advised the Tallink Group on the legislative proceeding of the draft Maritime Safety Act in the Parliament of Estonia (Riigikogu).
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07.01.2013
Nordea Bank Finland Plc Estonian branch takes its dispute with the tax authority to court
The firm's tax team led by partner Helmut Pikmets advised Nordea Bank Finland Plc Estonian Branch (Nordea) in constitutional review proceedings at the Office of the Chancellor of Justice. The case involves legal issues relating to the taxation of branches of foreign companies who have permanent establishment in Estonia.
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15.08.2012
Advising Swedbank Investment Funds in exiting the Danish BPT Secura real estate fund
The firm advised Swedbank Investment Funds (Swedbank Investeerimisfondid) in exiting from the Danish BPT Secura real estate fund and application of the Estonian-Danish tax convention.
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31.01.2012
Successfully representing a fuel retailer before the Supreme Court
The firm’s tax team, led by partner Helmut Pikmets, successfully represented a fuel retailer OÜ Kõrveküla Tankla at the Constitutional Review Chamber of the Supreme Court of Estonia in a dispute against the Estonian Tax and Customs Board.
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Representing former shareholders of Stora Enso Timber in the largest tax disputes of the Baltics
Successfully representing a group of former shareholders of Stora Enso Timber (formerly AS Sylvester) in the largest tax dispute in the Baltic States.
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