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
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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

We advised Danske Bank on the sale of its corporate portfolio to Luminor
04.02.2021
 
The Ellex team of Associate Partner Valters Diure, Senior Associate Roberts Rimša and Associate Eduards Dzintars advised Danske Bank on the sale of its corporate portfolio to Luminor. The portfolio consists of Latvian corporate customers of Danske Bank and includes loan, leasing and guarantee agreements.
 
This transaction is in line with Danske Bank’s 2019 announcement on the winding down of its banking activities in the Baltics in order to focus on its Nordic core markets. Danske Bank is a Nordic bank with strong local roots and bridges to the rest of the world with a history of more than 145 years. In addition to banking services, it provides services in the fields of life insurance and pensions, mortgage finance, asset management, real-estate and leasing.
 
Luminor is the third-largest provider of financial services in the Baltics, providing banking and financial services to help individuals, companies and institutions grow in its home markets of Estonia, Latvia and Lithuania.
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.