TGS Baltic represented AB Snaigė shareholders in transferring shares and bonds to the strategic investor

15.11.2011 TGS Baltic represented AB Snaigė shareholders in transferring shares and bonds to the strategic investor

TGS Baltic represented KJK Fund SICAV-SIF, Amber Trust SCA SICAF-SIF, Firebird Republics Fund, Ltd. and Firebird Avrora Fund, Ltd., the major shareholders of AB Snaigė in the transaction on transfer of shares and bonds in AB Snaigė to the strategic investor Russian company Polair.

By means of the transaction amounting to nearly EUR 13 million, the investor will acquire 60% of shares and will take over the control of the company. Furthermore, the clients of the law firm will transfer their convertible bonds of AB Snaigė to the investor.
AB Snaigė is the only manufacture of refrigerators, freezers and coolers in the Baltic States. According to the unaudited non-consolidated data, AB Snaigė’s turnover for the first three quarters of the current year reached LTL 93.4 million.

The lawyers of the law firm TGS Baltic counselled the clients on the transaction structure, organised financial and legal due diligence of AB Snaigė and its Lithuanian and Russian subsidiaries, drafted and adjusted transaction documents, represented the clients in negotiations, coordinated the signing procedure and represented the clients in the closing of the transaction. Partner and attorney-at-law Vidmantas Drizga headed the transaction. Attorney-at-law Aurimas Pauliukevičius and assistant attorney-at-law Mantas Gofmanas were also involved in the transaction.