TGS Baltic has advised Lithuanian Airports

04.11.2018 TGS Baltic has advised Lithuanian Airports

Government of Lithuania has started a reform of state enterprise due to which Lithuanian Airports is undergoing a transformation of the legal form of state enterprise to public limited liability company. Reform was started under recommendations of OECD. TGS Baltic has advised Lithuanian Airports on all legal issues related to the transformation.

The consultations included legal advice and management/supervision of the whole transformation process, including, but not limited to, reviewing the legal acts and identifying the obstacles for changing the legal form, preparing draft legal acts/amendments thereto, participating in the negotiations/discussions with the legislator, performing internal due diligence necessary for identifying contractual and internal legal obstacles, advising on state aid and other competition issues related to the change of the legal status, drafting all necessary documents (articles of association, notifications to the creditors, etc.), advising the client on the requirements of the legal capital.

TGS Baltic also ensured that legal and financial services provided by Ernst&Young would be properly integrated.

Lithuanian Airports is a state enterprise which operates three Lithuanian international airports, at the end of 2017 Lithuanian airports has assets with book value EUR 187 208 036 and employs more than 600 employees.