TGS Baltic advised client in acquiring headquarter of Danske Bank

20.01.2020 TGS Baltic advised client in acquiring headquarter of Danske Bank

Our team advised real estate company KEK Arendus OÜ belonging to Rondam Group, on buying the office building of the branch of  Danske Bank A/S located in Tallinn city centre and on concluding a lease contract with the current user of the building branch of Danske Bank A/S. TGS Baltic helped the client in conducting negotiations regarding transaction documents (incl. contract of sale and lease contract) and on carrying out merger clearance.

TGS Baltic M&A team was led by Partners Sander Kärson and Leonid Tolstov in the participation of Attorney Indrek Kangur, The transaction was carried out in tight cooperation with TGS Baltic experts on competition law, headed by Triinu Järviste who helped the buyer conduct smooth concentration proceedings in the Estonian Competition Authority.

KEK Arendus is a Rondam Group company owned by Neinar Seli. Acquisition of the building of Danske Bank enables the undertaking to extend its portfolio of large real estate objects even further. Previously, undertakings belonging to the same group have acquired the building of Luminor Bank in Tallinn.

Danske Bank A/S is an enterprise operating in the banking field who is about to exit the Estonian market after receiving a precept of the Estonian Financial Supervision Authority on 19 February 2019.

Media coverage: 

https://news.err.ee/987179/danske-bank-ends-activities-in-estonia