Deals and cases

TGS Baltic advised Orion Wealth in obtaining a licence of a financial brokerage firm of category C

We advised Orion Wealth in obtaining a licence of a financial brokerage firm of category C. This license allows the firm to provide portfolio management, investment advice and other investment and ancillary services.

TGS Baltic – together with Dentons – advised the Republic of Lithuania on borrowing in total EUR 1.2 bilion in international capital markets

Together with the international law firm Dentons, we advised the Republic of Lithuania on two benchmark bond transactions:

• The issuance of EUR 900 million 4.125% Notes due 2028,
• EUR 300 million tap of existing EUR 670 million 2.125% Notes due 2032.

TGS Baltic successfully represented the largest Lithuanian capital bank Šiaulių bankas in a case against the fine imposed by the Bank of Lithuania

Our team successfully represented the largest bank with Lithuanian capital – Šiaulių bankas – in an administrative case against the Bank of Lithuania regarding the fine imposed by the Bank of Lithuania.

Snoras bank's insolvency administrator has signed a 105-million-euro settlement agreement with the Swiss bank Julius Baer

TGS Baltic’s team assisted Snoras Bank’s insolvency administrator in reaching a settlement agreement with Swiss bank Julius Baer. The agreement which has been signed states that Julius Baer & Co Ltd will pay BAB Bankas Snoras EUR 105 million.

TGS Baltic advised Civinity on the acquisition of the Inservis Group  

We have assisted the Civinity group of companies in acquiring 100% of shares in Inservis, Priemiestis, Jurita, and SIA Inservis from the assets management group, Invaldos INVL, and ensuring financing from Luminor for the transaction.

TGS Baltic advised Truffle Capital on leading a 5.5 MEUR investment into insurtech startup Cachet

Law Firm TGS Baltic advised the European fund Truffle Capital SAS on leading a 5.5 MEUR investment round into startup Cachet, which provides smart insurance solutions. TGS Baltic advised the client during the entire transaction, from legal due diligence of Estonian companies to drafting and negotiating the transaction documents and closing the investment.

TGS Baltic represented EIB in signing an operational agreement with Šiaulių bankas for establishment and management of EUR 275 million renovation fund. It is the first fund of this type in Europe, intended for performance of a public function

We represented the European Investment Bank (EIB), as the manager of the European Regional Development Fund (ERDF), in granting a loan of EUR 90 million together with the Government of Lithuania to Šiaulių bankas, intended for its new subsidiary SB modernizavimo fondas. This loan is partly composed of funds from the European Structural and Investment Fund (ESIF). EUR 275 million loans in total, were granted to SB modernizavimo fondas also by other top-profile investors: Council of Europe Development Bank (CEB), INVL Asset Management, Swedbank, Šiaulių bankas and Nordic Investment Bank (NIB).

TGS Baltic Assisted INVL Baltic Sea Growth Fund With Its Acquisition of Latvian Cosmetics Producer B2Y.

On 9 February 2022, INVL Baltic Sea Growth Fund, one of the largest private equity investment funds in the Baltic region, completed the acquisition of a 100 percent stake in B2Y, a growing personal care products and cosmetics producer headquartered in Latvia. B2Y will continue to be led by its founder and CEO Rita Lagzdiņa.

TGS Baltic advised financial brokerage company Myriad Capital on obtaining a category B licence of a financial brokerage firm

TGS Baltic advised Myriad Capital, FMĮ on obtaining a category B licence of a financial brokerage firm that will allow the company to trade securities on behalf of clients, provide securities' accounting and custody services.

TGS Baltic advised the shareholders of Medicinos Bankas on the sale of 100% of the bank’s shares

We advised Konstantinas Karosas and Western Petroleum Limited, the shareholders of Medicinos bankas on the sale of 100% of the bank’s shares to the purchaser AAA Capital.

TGS Baltic advised Eleving Group concerning a bond issue with the total volume of EUR 150,000,000.

Eleving Group issued in October 2021 bonds in the amount of EUR 150,000,000, to be listed on the Frankfurt Stock Exchange - one of the largest bond issuances by a private company based in the Baltics.

TGS Baltic and Vinge assisted Swedish private equity company Helix Kapital with investment in the international sports media agency Spring Media, which simultaneously merged with Future Sports Agency.

TGS Baltic in cooperation with Vinge assisted Swedish private equity company Helix Kapital with investment in the international sports media agency Spring Media, which simultaneously merged with Future Sports Agency to strengthen its leading position on the Nordic sport-media market and accelerate international expansion.

TGS Baltic successfully represented Šiaulių Bankas in a dispute with the Bank of Lithuania

TGS Baltic represented Šiaulių Bankas in a dispute with the Bank of Lithuania regarding a sanction imposed by the Bank of Lithuania for violations of legal acts regulating the prevention of money laundering and terrorist financing.

TGS Baltic advised ALTUM Capital Fund on a EUR 10 million loan to hygiene product manufacturer iCotton.

TGS Baltic advised ALTUM Capital Fund on a loan of EUR 10 million to the eco-friendly hygiene product company iCotton, which employs 800 people at the group's plants in Latvia and Poland and had a turnover of EUR 80 million last year.

TGS Baltic advised Šiaulių Bankas in approving the EUR 250 mln. Euro Medium Term Note Programme and distributing the first EUR 75 mln. Notes issue under the programme

We advised Šiaulių Bankas in approving the EUR 250 mln. Euro Medium Term Note Programme and its base prospectus as well as in distributing a EUR 75 mln. Restricted Senior Preferred Notes issue under the programme and the base prospectus. The issued notes will be soon admitted to trading on AB Nasdaq Vilnius in the debt securities trading list.

TGS Baltic – together with White&Case – advised Avia Solutions Group on attracting EUR 300 million of investments from Certares Management LLC

We advised Avia Solutions Group (ASG), a leading global aerospace services group, on entering into a strategic partnership with investment specialist dedicated to the travel, tourism, and hospitality sectors Certares Management LLC (Certares) through a EUR 300 million structured equity investment in the Group.

TGS Baltic advised Evernord on EUR 3,5 million private placement of bonds issued by a subsidiary of Novira Capital Group

TGS Baltic advised Evernord in executing a private placement of EUR 3.5 million bonds of NC K2C SIA, a subsidiary of the Estonian real estate developer Novira Capital.

TGS Baltic advised a consortium of banks on approx EUR 265 million refinancing of Press Glass, a leading European producer of processed glass

TGS Baltic, together with the cross-border Dentons team, advised a club of four banks, consisting of PKO Bank Polski, ING Bank Śląski, Santander Bank Polska and BNP Paribas Bank Polska, on approx EUR 265 million refinancing of the indebtedness of Press Glass and the financing of its further investments, including new production plants in Lithuania and Wales.

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in EUR 750 million Eurobond issue

We advised the Ministry of Finance of the Republic of Lithuania in structuring and issuing a Eurobond issue worth EUR 750 million for a period of 30 years. This issue will bear 0.75% annual interest.