Financials & Investments

Ellex Klavins advises leading financial institutions and investment companies on the most significant finance transactions. We enjoy a heavy volume of banking-related work, including commercial lending, syndicated loans, refinancing and portfolio restructuring. Our experts assist clients seeking to operate on a cross-border basis to comply with EU passporting and general good provisions, or alternatively we help clients to structure the nature of their investment services in order to comply with applicable restrictions or requirements.
Key projects in the field

Key contacts

Valters Diure

Associate Partner

Co-head of Finance & Tax Practice
+371 673 50541
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What's new in field
Ellex and Allen & Overy advise Blackstone on the acquisition of a majority stake in Luminor for EUR one billion
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Key projects in the field

Ellex advised on Bite Group’s EUR 700 million bond issuance and financing
We advised initial bond purchasers and mandated lead arrangers Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, ING Bank N.V., London Branch and UniCredit Bank AG on Bite Group´s EUR 700 million bond issuance and financing.
 
Bite Group is a telecommunications and media group based in the Baltics that is controlled by international asset management company Providence Equity Partners.
 
The proceeds from the bond offering, together with cash in hand, will be used to repay Bite Group’s existing financial debt and to return capital to shareholders. To secure the financing the issuer’s group will provide collateral packages in Lithuania, Latvia, and Luxemburg.
 
It is the largest bond issue by a private Baltic company to date.
 
We advised the clients in cooperation with international law firm Latham & Watkins. The pan-Baltic team included partner Ermo Kosk, senior associates Kadi Sink and Sandra Värk, counsel Rain Raa, in Estonia, foreign counsel Zinta Jansons, associate partner Valters Diure, senior associate Beata Plociņa and associate Marta Cera in Latvia, partner Giedrius Stasevičius, senior associate Gintarė Skrolienė, junior associate Ainis Augustas Petrulis, associate partner Miglė Petkevičienė, associate Dovydas Gudžiūnas, associate Paulius Vaitkevičius and associate Edita Sinickaitė in Lithuania.
We advised on Rabobank's Participation in Batterfisa's Debt Refinancing
Ellex Klavins advised on the case regarding Cooperatieve Rabobank U.A. refinancing of Latvian fishing company SIA Batterfisa's existing liabilities and working capital needs.
 
Besides financial law issues we provided legal support for registration of commercial pledges and ship mortgage.
 
Batterfisa was advised by Associate Partner Maris Brizgo and Senior Associate Anna Misneva.
Deal closed: we advised Blackstone on completing the acquisition of a majority stake in Luminor bank for EUR 1 billion
30.09.2019
 
On September 30, 2019 after approvals from the Baltic regulators, the European Commission and the European Central Bank, the US private equity giant Blackstone Group has closed acquisition of a 60 % majority stake of Luminor shares, one of the leading banks in the Baltics, from its owners Nordea Bank and DNB bank for EUR 1 billion.
 
Nordea Bank and DNB bank will retain an equal 20 % equity stake in Luminor. Additionally, Blackstone has entered into an agreement with Nordea to purchase their remaining 20 % stake over the coming years.
 
Ellex together with the global law firm Allen & Overy advised Blackstone on the acquisition of bank Luminor. The Ellex team was led by partner Sven Papp and senior associate Alla Kuznetsova in Estonia. This deal is the largest M&A deal in Baltic history.
 
Luminor was created through a merger of Nordea bank and DNB bank in the Baltics in 2017. It is the third largest bank in the Baltic region.
 
Blackstone is one of the world’s leading investment firms founded in 1985. The firm has over 24 offices with 2 500 employees worldwide. The portfolio companies employ over 400 000 people across the globe.
 
Read more here.