Deals and cases

The Latvian national airline airBaltic issues 340 million 5.25-year secured euro bonds

TGS Baltic advised joint global coordinators BNP Paribas, Citi, and J.P. Morgan, joint bookrunners Morgan Stanley and SEB, and co-managers LHV and Signet Bank on the issue by the Latvian national airline airBaltic of 340 million 5.25-year secured euro bonds to be listed on Euronext Dublin stock exchange. This is the largest corporate bond issue originating from Latvia.

TGS Baltic assisted one of the founders of Altero Group with his exit from the financial comparison platform Altero

TGS Baltic assisted one of the founders and the sole management board member of Altero Group with his exit from the financial comparison platform Altero, which operates in the Baltic countries, by selling his stake to OÜ OM TEENUSED and handing over the management to the new management team. Altero platform is operated by the Latvian holding company SIA Altero, which owns subsidiaries UAB Altero LT in Lithuania and Altero OÜ in Estonia. The transaction was signed on 26 February 2024 and completed on 25 April 2024.

TGS Baltic advised Röntgen Asset Management (UAB Ketvirta Diena) on obtaining permission to operate as a management company of collective investment undertakings for informed investors

Our team advised Röntgen Asset Management (UAB Ketvirta Diena) on obtaining permission to operate as a management company of collective investment undertakings for informed investors. 

This complements the Röntgen brand's existing presence in the financial sector: the management company’s sister company Röntgen is a provider of crowdfunding services.

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.

TGS Baltic assisted SIA DARDA in selling the land plot in a strategic location in the centre of Riga, the capital of Latvia, to SIA Satekles Business Center 2 for the development of a new office complex.

TGS Baltic assisted SIA DARDA in selling a strategically positioned land plot (total area 3,777 sq.m.) in a central district of Riga, the capital of Latvia, adjacent to the railway station and Rail Baltica infrastructure, to SIA Satekles Business Center 2 (previously Linstow TOBRE, SIA). The transaction value is EUR 1.3 million.

TGS Baltic assisted Enefit Green AS with selling Brocēni pellet mill and cogeneration plant in Latvia to Warmeston OU, the leading Estonian wood pellet producer.

Enefit Green AS has agreed to divest Brocēni pellet mill and biomass CHP plant to Warmeston OU by selling 100% shares of Enefit Green SIA (now Warmeston SIA) and SIA Technological Solutions. Brocēni business includes a pellet mill and a biomass cogeneration plant, both built in 2016.

TGS Baltic assisted Enefit Green AS with selling Paide and Valka district heating businesses in Estonia and Latvia to AS Utilitas Eesti, Estonia's largest district heating company.

Enefit Green AS has agreed to divest Paide and Valka district heating businesses to AS Utilitas Eesti by divesting Paide business and 100% shares in the Valka district heating company SIA Enefit Power & Heat Valka. In Paide, the transaction consists of a district heating enterprise whose assets include a cogeneration plant commissioned in 2015, a biomass boiler plant, a reserve boiler house, and a solar park.

TGS Baltic advised Värska Originaal, the leading mineral water producer in Estonia, on a buyout of its minority shareholders and refinancing of the company

TGS Baltic acted as a legal adviser to Värska Originaal and its shareholders. Our team advised on negotiating the terms of the transaction in which the client acquired additional shares of Värska Originaal.

BaltCap completes the first take-private transaction by a Baltic investor on the London Stock Exchange by acquiring Xpediator

BaltCap was advised by TGS Baltic in completing the transaction to acquire Xpediator Plc.

TGS Baltic advised AB Amber Grid in selling 66% stake in Get Baltic, UAB to European Energy Exchange (EEX)

EEX is the world’s biggest gas spot exchange and the second largest in European gas futures trading. 

TGS Baltic advised investment funds managed by BaltCap, the largest private equity firm in the Baltic States

Our team advised investment funds managed by BaltCap, the largest private equity firm in the Baltic States, in the take-private acquisition of London Stock Exchange FTSE AIM listed company Xpediator plc., an integrated freight management business. 

TGS Baltic advises Maxima Grupė on structuring the Commercial Paper Programme

TGS Baltic has successfully advised Maxima Grupė in structuring the Commercial Paper Programme and the issuance of EUR 35 million of notes under the programme.

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 assisted OptiGroup with its acquisition by FSN Capital.

On 18 December 2021, FSN Capital VI signed an agreement to acquire OptiGroup and the Dutch company Hygas to create a European Group in the business-to-business distribution industry. FSN Capital VI will be the leading shareholder in the combined Group, and OptiGroup’s current shareholders, Altor Fund II, Triton II Fund and RoosGruppen AB will remain as minority owners. The transaction is expected to be finalised in the first quarter of 2022 subject to customary statutory approvals. The parties have agreed not to disclose the details of the transaction.

TGS Baltic advised Tesonet Accelerator on its investment in Yours App, an all-rounder wellness app for the modern world

TGS Baltic team advised Tesonet Accelerator, an international cybersecurity company and startup accelerator, on its investment in Yours App, an innovative UK-based wellness startup.

TGS Baltic advised CoInvest Capital on its investment into Funkciniai Gėrimai

TGS Baltic advised the venture capital fund CoInvest Capital on its second investment into Lithuanian start-up, Funkciniai gėrimai. Together with seven business angels, CoInvest Capital invested EUR 600 000 EUR.

TGS Baltic advised CoInvest Capital on their investment in Cogastro, the world's first insect farm software company

TGS Baltic advised the venture capital fund CoInvest Capital, which together with Syndicate formed by members of the Lithuanian Business Angels Network (LitBAN) invested 500 000 EUR in startup Cogastro.

TGS Baltic advised Contrarian Ventures on its investment into startup PVcase together with other investors for a total amount of EUR 20 million

We advised Contrarian Ventures, which, together with other investors, participated in the Series A funding of the startup PVcase.

TGS Baltic advised Whatagraph, one of the leading marketing start-ups, attracting EUR 6,2 mln. investment

TGS Baltic advised Whatagraph, a leading marketing performance monitoring and reporting platform, attracting EUR 6.2 mln. investment in Series A.