TGS Baltic assisted Expobank CZ a.s. with financing of acquisition of Radisson Blu Daugava Hotel by Astor Group (Latvia) from PBR Hotel (USA).

01 / 19

TGS Baltic assisted Expobank CZ a.s. with financing of acquisition of the shares of SIA POLAR BEK DAUGAVA (now merged into SIA LAMPL owned by two private individuals through SIA RHG RIGA), the owner of Radisson Blu Daugava Hotel.

The law firm carried out full scope assistance to the financing institution, including drafting of the loan and security agreements, including pledge and mortgage agreements, participated in negotiations of the transaction documents and followed up on establishing of securities and fulfilment of the conditions prior and after the drawdown.

Radisson Blu Daugava Hotel is a 4-star hotel in Riga, Latvia, that, as the first hotel in the Baltic States managed by an international hotel brand, has hosted stay of a large number of presidents and country leaders, as well as events of international and local significance.

Due to reorganisation procedures of the acquirers of Radisson Blu Daugava Hotel, the commercial pledges registered on 2 August 2018 were renewed and re-registered following the merger of SIA POLAR BEK DAUGAVA into SIA LAMPL on 18 December 2018.

Maximum amount of the secured claim is EUR 28,000,000.

TGS Baltic team was led by Partner Inese Hāzenfusa and Senior Associate Alise Eljašāne, as well as supported by Senior Associate Raivis Znotiņš and Associate Kaspars Treilibs.