Deals and cases
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22.09.2022
TGS Baltic represented InMedica in the acquisition of Vilnius Implantology Center Clinic
Our client InMedica has signed the deal for acquisition of 100% of Vilnius Implantology Center Clinic from OP Group, whose co-owner is DMSc Algirdas Puišys, the founder of the clinic.
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21.09.2022
TGS Baltic advised on a EUR 11.6 million investment transaction in Estonia
TGS Baltic advised the venture capital fund Inventure on leading the financing round by which EUR 11.6 million was raised for the startup Jobbatical, which provides relocation and immigration services for international companies.
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12.09.2022
TGS Baltic advised on the sale of shares between esteemed Estonian companies
The TGS Baltic team advised Sulev Sisask, the majority shareholder of Ordi AS, one of the oldest IT hardware companies in Estonia, on the sale of shares to Klick Eesti AS, the process that lasted for two months was led by Sander Kärson, the managing partner at TGS Baltic.
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07.09.2022
TGS Baltic assisted the shareholders of a Latvian wind and solar energy project development company in the sale of 100% of its shares to the Lithuanian company UAB Ignitis renewables.
On 6 September 2022, the shareholders of a Latvian wind and solar energy project development company signed an agreement on the sale of 100% shares of a Latvian company that is developing a wind and energy project in Latvia to the Lithuanian company UAB Ignitis renewables.
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16.08.2022
TGS Baltic has received a positive verdict in the damage recovery case against SIA VELVE – member of the “construction companies’ cartel”.
TGS Baltic, representing the interests of the municipality of the city of Riga, has received a positive decision of the first instance court in the proceedings against SIA VELVE - a member of the “construction companies’ cartel”.
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10.08.2022
TGS Baltic has won a case in Stockholm arbitration: we represented the Vilnius CHP in a dispute with a biomass unit contractor
TGS Baltic has successfully defended interests of its client Vilnius CHP and has won in the arbitration case against Polish boiler maker Rafako – the contractor was admitted to be at fault for delay in the biomass unit construction.
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09.08.2022
TGS Baltic advised the shareholders of Kilo Health in the sale of minor part of company shares to Scandinavian and Estonian funds
TGS Baltic M&A team consisting of Marius Matonis and Rūta Tikuišytė advised two shareholders of Kilo Health (UAB “Kilo grupė“), one of the leading digital health and wellness companies, in selling minor part of their shares to Scandinavian and Estonian funds.
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08.08.2022
TGS Baltic assisted AS Latvenergo in the establishment of the joint venture SIA Latvijas vēja parki along with AS Latvijas valsts meži
TGS Baltic provided legal support to AS Latvenergo in the establishment of the joint venture SIA Latvijas vēja parki alongside AS Latvijas valsts meži. TGS Baltic drafted the shareholder’s agreement in this regard, as well as advised on matters related to competition law issues and management of state-owned commercial companies.
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11.07.2022
TGS Baltic represented the real estate development company SIA City Development Company in the land sale transaction to ESTMAK CAPITAL OÜ group company SIA Riga Properties 3.
TGS Baltic helped the real estate development company SIA City Development Company to sell four real estates in Avoti, the south-eastern part of the historical centre of Riga.
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30.06.2022
TGS Baltic advised Valstybės investicinis kapitalas on a EUR 25 million note issue
Valstybės investicinis kapitalas UAB issued EUR 25 million 5-year senior unsecured notes under the EUR 400 million Programme. The notes have a nominal value of EUR 1,000 and a yield of 2.826%.
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27.06.2022
TGS Baltic assisted the marketing and advertising technology industry investor – venture capital fund BlackSheep Ventures / BlackSheep MadTech Fund with its planned EUR 2 million investment into a disruptive geospatial advertising platform developer “Roibox” SIA.
TGS Baltic assisted the marketing and advertising technology industry investor – venture capital fund BlackSheep Ventures / BlackSheep MadTech Fund with its planned EUR 2 million investment into a disruptive geospatial advertising platform developer “Roibox” SIA.
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21.06.2022
TGS Baltic assisted SIA Tet in acquisition of 100% of the shares of SIA Telia Latvija and obtaining permission from the Latvian Competition Council.
On 4 January 2022, the technology and entertainment company SIA “Tet” and one of the leading telecommunications companies in the Nordic and Baltic countries Telia Company signed an agreement on the purchase of shares in SIA "Telia Latvija". To conclude a transaction that envisages SIA “Tet” becoming the sole shareholder of SIA "Telia Latvija", a merger permit from the market supervisor – the Latvian Competition Council – was required.
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09.06.2022
TGS Baltic advised EPSO-G, which was the first in the Baltics to issue sustainability bonds
Advised EPSO-G, which was the first in the Baltics to issue sustainability bonds. The project is significant for the entire Baltic capital market, as the interest rate of the bonds was the first linked to compliance with ESG requirements.
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09.06.2022
TGS Baltic advised a group of companies on acquisition of shares of SIA SELP who owned a wind power project of 138 MW to Taaleri Group and Lords LB Asset Management.
TGS Baltic advised REMG TRADE SIA, EXECUTO SIA and SIA FUTURE FARM in selling 100% shares of SIA SELP, a company who has been established with a view to developing, owning and constructing a wind power project to be located in Talsi municipality, with a total planned connection capacity of 138 MW (one hundred thirty-eight megawatts) to Taaleri Group and Lords LB Asset management.
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07.06.2022
TGS Baltic – together with Dentons – advised the Republic of Lithuania on EUR 650 million bond issuance
Together with the international law firm Dentons, we advised the Republic of Lithuania on issuance of 10-year EUR 650 million bond issue in international capital markets. The issue will pay 2.125 percent annual interest.
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20.05.2022
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.
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18.05.2022
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.
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29.04.2022
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).
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27.04.2022
Successfully represented AS Tartu Agro in Supreme Court
TGS Baltic senior associates Triin Kaurov and Triinu Järviste represented AS Tartu Agro in the Estonian Supreme Court as a result of which, the Ministry of Rural Affairs must give out a legal opinion concerning the decision of the European Commission on unlawful state aid made against Tartu Agro. The team also included Mari-Liis Orav and Robin Luts.
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26.04.2022
Sunly acquired Polish solar power developer Alseva
TGS Baltic senior associates Sander Kärson, Maris Vutt, and Kärt Raud advised the renewable energy producer Sunly on its acquisition of a 100% holding in the Polish solar power business Alseva Group.
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