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.
The law firm provided a full range of assistance to the financing institution. Among other things, it drafted the loan and security agreements, including pledge and mortgage agreements, participated in the negotiations of the transaction documents, and followed up on the establishing of securities and the fulfilment of the conditions prior to and after the drawdown.
The Radisson Blu Daugava Hotel is a 4-star hotel in Riga, Latvia, that, as the first hotel in the Baltic States managed by an international hotel brand, has hosted the stays of a large number of presidents and national leaders, as well as events of international and local significance.
Due to reorganisation procedures of the acquirers of the Radisson Blu Daugava Hotel, the commercial pledges registered on 2 August 2018 were renewed and re-registered following the merger of SIA POLAR BEK DAUGAVA into SIA LAMPL on 18 December 2018.
The maximum amount of the secured claim is EUR 28,000,000.
TGS Baltic's team was led by Partner Inese Hazenfusa and Senior Associate Alise Eljašāne with the support of Senior Associate Raivis Znotiņš and Associate Kaspars Treilibs.