Deals and cases

TGS Baltic advised venture capital fund NFT.VC on making an investment into FoodTech startup äio tech OÜ

TGS Baltic advised the client during the entire transaction, from legal due diligence of äio tech OÜ until negotiation and finalisation of the transaction documents and closing of the investment into äio tech OÜ.

TGS Baltic advised VOOL on raising 1.7 MEUR investment

TGS Baltic advised VOOL, a start-up developing a complete electric car charging solution, on raising 1,7 MEUR investment. The investment round included leading Estonian venture capital investors as well as various known angel investors, including the former President of Estonia, Kersti Kaljulaid.

TGS Baltic assists Moller Mobility group with the construction of a new Audi centre at Ulmaņa 115, Riga

TGS Baltic assists with constructing a new Audi centre at Ulmaņa 115, Riga. Due to the difficult external conditions, the previous contractor could not overcome, the project had to search for a new contractor and replace the previous one.

TGS Baltic assisted renewable energy company Green Genius to acquire 100 MW solar PV project in Latvia

Renewable energy company Green Genius has acquired 100% shares in Latvian company having 100 MW solar PV project rights covering over 151 ha.

The global sustainability leader is coming to the Baltics: TGS Baltic advised IFCO SYSTEMS in acquiring UAB PlasticPack

Our experts Aurimas Pauliukevičius and Indrė Vickaitė-Liatukė advised IFCO SYSTEMS, the world's leading supplier of reusable packaging containers (RPC) for fresh food products, in acquiring 100% of shares in UAB PlasticPack from the previous owners who are private individuals.

TGS Baltic arbitration team won a case before the Vilnius Court of Commercial Arbitration

Our client has recently won in an arbitration case administered by the Vilnius Court of Commercial Arbitration. The client was represented in this arbitration by our arbitration team consisting of Dr. Tadas Varapnickas, Žydrūnė Stuglytė, Lukas Radzevičius, Beatričė Stiopinaitė, and Emilija Valentinaitė.

Biggest deal in Baltics: TGS Baltic advised the buyer in the acquisition EECP Retail Properties II and III

TGS Baltic advised G.L.G. Projektai (which is owned by NDX Group and Galio Group) in the acquisition of 100% of the shares of EECP Retail Properties II and EECP Retail Properties III. The target companies operate 17 retail stores spread across 12 Lithuanian cities.

TGS Baltic assisted BETHOC AB, Swedish hockey training aids seller, with acquiring the shares of SIA SPORT REVOLUTION, Latvian ice hockey, floorball, and field hockey training aids seller.

On 20 December 2022, Swedish company BETHOC AB signed the transaction to acquire 100% shares of Latvian company SIA SPORT REVOLUTION from the previous shareholders of Latvian company SIA JLSR and SIA Xstunda, each owning 50% of the share capital of the company.

TGS Baltic assisted the shareholders of a Latvian solar energy project development company in selling 100% of its shares to the Lithuanian company UAB Ignitis renewables.

On 29 December 2022, the shareholders of a Latvian solar energy project development company signed an agreement on sale of 100% shares of its company to the Lithuanian state-owned company UAB Ignitis renewables.

Exceptional victory: we have won a case against the Bank of Lithuania in courts of all instances, representing Orion Asset Management

We represented one of the oldest asset management companies in Lithuania, Orion Asset Management, in a case concerning a fine of EUR 40,000 imposed by the Supervision Service of the Bank of Lithuania.

Big win in court representing the largest Lithuanian capital bank Šiaulių bankas in three-year-long proceedings regarding the imposition of the biggest AML fine in the banking sector

TGS Baltic attorneys Žygimantas Stankevičius, Tadas Varapnickas and assistant attorney Eglė Masytė successfully defended the interests of Šiaulių bankas in an administrative case against the Bank of Lithuania regarding a fine imposed by the Bank of Lithuania.

TGS Baltic advised the largest Lithuanian capital bank Šiaulių bankas on its 85 MEUR bond listing on Nasdaq Vilnius

TGS Baltic advised Šiaulių Bankas on their issue of 85 MEUR of restricted senior preferred notes. Altogether bond issue of Šiaulių bankas in the value of EUR 160 MEUR is traded as from 9 December 2022, for which 1.047% annual interest is paid.

TGS Baltic assisted the Ministry of Finance in railway Infrastructure management and organization analysis

TGS Baltic advised the Ministry of Finance by conducting an analysis of railway infrastructure management and restructuring.

TGS Baltic advised Litgrid, the Lithuanian electricity transmission operator, on the acquisition of shares in Norwegian company TSO Holding

Our experts Aurimas Pauliukevičius and Indrė Vickaitė-Liatukė have advised Lithuanian electricity transmission operator LITGRID AB (“LITGRID”) on the acquisition of two 18.8% stakes of shares in Norwegian company TSO Holding AS (“TSO Holding”) (in total 37.6%) from Danish and Finnish energy transmission system operators, Energinet and Fingrid, respectively, and the subsequent sale of stake of LITGRID in TSO Holding to its parent company UAB EPSO-G (“EPSO-G”). The value of these transactions is approximately EUR 13 million.

TGS Baltic assisted Invego OU in relation to their rapid expansion in Latvia.

TGS Baltic has been engaged by Estonian origin real estate developer Invego OU in relation to their rapid expansion in Latvia.

TGS Baltic successfully defended interests of one of the major financial institutions of Lithuania

The TGS Baltic team successfully defended interests of one of the major financial institutions of Lithuania in the case started by former employee regarding settlement after dismissal. The amount claimed by the employee was over EUR 215 000.

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 analyzed potential retail restrictions on alcohol sales for Tallinn Strategy Center

TGS Baltic advised the Tallinn Strategy Center by conducting an analysis on potential retail restrictions for stores specializing in the sale of alcoholic beverages.

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.