TGS Baltic advises EPSO-G on main corporate governance matters

20.05.2019 TGS Baltic advises EPSO-G on main corporate governance matters

EPSO-G is a state-owned holding company for Lithuanian gas TSO (Ambergrid) and electricity TSO (LITGRID). EPSO-G, in accordance with the goals laid down in the National Energy Independence Strategy and in other legal acts, implements strategic tasks of developing the country’s gas and electricity infrastructure, integrating it into EU energy markets, and seeks to implement the goals of the Energy Union. 

 

The main long-term (strategic) purpose of activities of EPSO-G is transparent and effective performance of the parent company’s functions in the governance of the companies (including listed companies) belonging to the corporate group, implementing the principle of separation of state ownership and regulation functions.

After amendment to the Lithuanian Law on Companies in late 2017, EPSO-G and other group companies started complex restructuring of the group corporate governance model eliminating corporate bodies which previously acted on the intragroup level and revising the intragroup management model.

TGS Baltic advises EPSO-G on main corporate governance matters including of revision and amendment of corporate documentation of EPSO-G as the holding company, as well as of subsidiaries of EPSO-G – listed companies. One of the major tasks of TGS Baltic was to ensure conformity of the new corporate governance model to the OECD recommendations and to the best foreign corporate practices.