TGS Baltic assisted SIA Lielais lauks with selling a strategic land plot to SIA Kinetics Nail Systems to construct a new factory.

19.01.2024 TGS Baltic assisted SIA Lielais lauks with selling a strategic land plot to SIA Kinetics Nail Systems to construct a new factory.

On 11 January 2024, SIA Lielais lauks completed the sale of a strategic land plot (3.1858 ha) to SIA Kinetics Nail Systems necessary for the construction of a new factory. The transaction value is EUR 460,000.

Through this transaction, Kinetics Nail Systems, the Latvian manufacturer of Professional Nail care and Skin care products with 20+ years of experience and partners in more than 40 countries worldwide, has acquired a prime land plot in Ādaži, Latvia. The land is meant for constructing a new factory, thus strengthening Kinetics Nail Systems' footprint in the market.

The transaction represents a substantial financial investment and regional expansion and growth plans of Kinetics Nail Systems. Establishing a new factory is anticipated to positively impact the local economy, create job opportunities, and foster industrial development. The latest methods will be used in the Kinetics Nail Systems production facility, having a minimum impact on environmental pollution.

During this transaction, TGS Baltic navigated the complexities associated with land use changes in the land register, ensuring a smooth and legally compliant process for both parties.

TGS Baltic senior associate, attorney at law Armands Masulis provided all necessary transactional assistance to SIA Lielais lauks.

TGS Baltic is a top-tier full-service business law firm in Latvia, Estonia, and Lithuania, employing more than 200 lawyers across the Baltics http://tgsbaltic.com/