Establishment of LEO LT Electricity Company with EUR 2.4 Billion Capital

01.01.2008 Establishment of LEO LT Electricity Company with EUR 2.4 Billion Capital

TGS Baltic acted as lead counsel for the private investor UAB NDX Energija in preparation and execution of a transaction to establish a national electricity company, LEO LT, as the ultimate holding company for Lithuanian electricity transmission and distribution companies.

The process was effectively a consolidation of AB Lietuvos Energija, the owner of the electricity transmission grid, the electricity system and market operator, and two distribution network operators (AB Rytų Skirstomieji Tinklai and AB VST). Strategic goals of the newly established company included the construction of a new nuclear power plant and of power grid connections with Sweden and Poland.

NDX Energija held 38% of shares in LEO LT the State held 62%. The transaction was the biggest ever M&A transaction in Lithuania and the Baltics.