Ellex Klavins has wide expertise in all M&A transactions, especially those that are sophisticated in nature and present unusual circumstances. Solutions that we offer reflect our extensive international experience, deep local knowledge and business acumen. Our team has advised on numerous important deals in the local market and globally, while our experts have acted as independent advisors or have worked with the best law firms in Europe. We are perfectly positioned to support the region's leading enterprises and emerging startups in their development.
Corporate M&A
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Raimonds Slaidiņš
Senior Partner
Head of Corporate and M&A practice
+371 6781 4848
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Filips Kļaviņš
Senior Partner
+371 6781 4848
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Pēteris Dalderis
Partner
+371 6781 4848
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Zinta Jansons
Partner
Head of Tax practice
+371 6781 4848
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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 AMD Holding on the sale of shopping centre DOLE to Hili Properties
08.01.2018
On December 2018 shopping centre Dole was acquired by Maltese-based property investment company Hili Properties from AMD Holding.
Dole is a the three-storey shopping mall with floor space of 8,000 square meters that houses more than 60 tenants, including Rimi, Olympic casino, Hesburger, Drogas and other retailers.
Prior to the transaction Norwegian company AMD Holding was the sole owner of shopping centre Dole. AMD Holding was founded in 2013 and is based in Oslo, Norway. The company owns and operates real estate properties.
Ellex Klavins provided full Latvian legal support to AMD Holding in this transaction. The client was consulted by Senior Counsel Iveta Ceple, Senior Associate Anna Misneva and Senior Partner Raimonds Slaidins.
We advised Baltic Retail Properties Latvia on a significant merger and reorganisation of its subsidiaries
31.08.2018
Ellex Klavins provided full legal service to Baltic Retail Properties Latvia in relation to merger with its three subsidiaries in Latvia, related reorganisation matters and registration of outcoming changes in public registers.
The engagement was successfully completed on August 2018.
Shareholder of Baltic Retail Properties Latvia is Lithuanian investment company Baltic Retail Properties which is licensed and has been partnered with the leading US REIT W. P. Carey, Rakauskas family and Kesko Corporation, and invests into retail real estate in Latvia, Estonia and Lithuania.
In Latvia the client was advised by Senior Associate Māris Brizgo and Senior Partner Raimonds Slaidiņš.
Ellex advised on a landmark insurance deal where GrECo JLT acquired the majority holding of IIZI Group
09.08.2018
Ellex advised GrECo JLT, the major risk and insurance manager in CEE, on the acquisition of a strategic stake (56.9462 %) in IIZI Group AS.
GrECo JLT is a family-owned company established in Austria in 1925 is employing close to 800 people and operating in 16 countries with 52 subsidiaries, including in Estonia since 2014 and in Lithuania through acquiring RHEA in 2008.
IIZI Kindlustusmaakler AS is the leading insurance retailing company in the Baltics, represented in Estonia, Latvia and Finland with more than 150 employees and 150 000 active customers. IIZI has stood out internationally with their innovative solutions being the indisputable market leader in its region for private customers, small and medium-sized companies and as a partnership solutions provider.
The customers of IIZI will in turn win from the extensive international experience of GrECo JLT. The main focus of GrECo JLT has been on providing corporate insurance brokerage services and consultations, therefore, the shareholding of JLT in the company enables access to a huge network of subsidiaries and partners all around the world.
After the transaction the executive management and current shareholders who have been actively involved in day-to-day operations of IIZI will continue as shareholders and managers of the company.
From Estonia Partner Sven Papp, Counsel Jaanus Ikla, Senior Associates Gerda Liik, Reet Saks, Associate Merlin Liis and Lawyers Kevin Gerretz, Mirko Kikkamägi advised on the transaction.
In Latvia the client was advised by Partner Pēteris Dalderis, Associate Anete Dimitrovska (leading the legal due diligence team), Senior Associate Andris Lazdiņš and Associates Beata Plociņa, Edvijs Zandars and Kaspars Oļševskis.
Read more about the deal here.
Ellex advises Daimler on its investment in Taxify
Ellex has advised Daimler AG on an investment in Taxify. Daimler, whose mobility ser-vices portfolio includes Mytaxi and other ride-hailing services such as Clever Taxi and Taxibeat, now also holds an interest in ride-hailing provider Taxify. Taxify operates pre-dominantly in Central and Eastern Europe and in Africa. Chinese ride-hailing platform Didi Chuxing already acquired an interest in Taxify in 2017. With its investment in Taxify, Daimler is significantly expanding its ride-hailing portfolio. To date, Taxify has provided transport to more than 10 million passengers with more than 500,000 registered drivers.
The legal team was led by Noerr LLP and Ellex acted as a local counsel.
Ellex Klavins advised NCH Capital on the sale of Groglass
US-based private equity house NCH Capital has sold Latvia-based anti-reflective coatings manufacturer Groglass to UK-based Kartesia alongside the management, in an MBO transaction.
Ellex Klavins provided legal advice to NCH Capital in the transaction, and the client was consulted by Senior Associate Māris Brizgo and Partner Ivars Pommers. Additionally, our experts advised the client in relation to vendors due diligence prior to the transaction.
NCH Capital is a global investment firm with more than $3bn AUM. NCH Capital was founded in 1993, forming twenty-five funds targeting inefficiencies in capital-starved markets. The firm’s deep-value strategies are executed, depending on the local opportunity set, through investments in real estate, agribusiness, private equity and publicly quoted securities.
Groglass is one of the world’s leading developers and manufacturers of anti-reflective and other high-performance coatings on glass and acrylic for various industries, including high-end electronic and static displays, picture framing, museum showcases and construction materials.
Ellex advised Enefit Green with the acquisition of Nelja Energia
Ellex team advised the third biggest Estonian deal ever where Eesti Energia AS's fully owned subsidiary Enefit Green AS acquired Nelja Energia AS.
On 29 May 2018 Eesti Energia AS's fully owned subsidiary Enefit Green AS as the buyer, and Vardar Eurus AS and minority shareholders as the sellers entered into a Share Purchase Agreement regarding all the shares in Nelja Energia AS, a renewable energy producer and developer in the Baltic countries. The transaction remains subject to approval by the County Executive Board of Buskerud County Administration, and customary approvals and clearances by relevant competition authorities.
The consideration payable for 100% of the shares of Nelja Energia amounts to 289 million EUR. In addition, the buyer assumes Nelja Energia’s net debt which amounted to 204 million EUR as at the end of 2017.
The transaction concerns 100% of the shares of Nelja Energia AS. Vardar AS has agreed (through its subsidiary Vardar Eurus AS) to sell its 77% holding of the shares in Nelja Energia. The remaining 23% of the shares is acquired from a number of Estonia based minority investors.
The Ellex Raidla team in Estonia included Partners Sven Papp, Martin Käerdi, counsels Triin Frosch, Toomas Kasesalu, Senior Associates Alla Kuznetsova, Sandra Värk, Gerly Lõhmus, Rauno Klemm, Martin Mäesalu, Associate Triin Tiru, Lawyers Anna Trine Raudsepp and Kevin Gerretz. In Latvia the client was advised by Partner Raimonds Slaidins, Senior Associate Iveta Ceple and Associates Marta Cera and Beata Plocina. The Ellex Valiunas team was led by Partner Paulius Gruodis and included Associate Mantas Juška and Junior Associate Arvydas Grušeckas.
Ellex advises OP Financial Group on the sale of Seesam Insurance AS to Vienna Insurance Group
OP Financial Group will sell all shares of its non-life insurance company Seesam Insurance AS, including its Latvian and Lithuanian branches, to Vienna Insurance Group. The parties signed the share sale and purchase agreement on 18 December 2017. The transaction is subject to the approval by the local regulatory authorities.
Seesam was founded in 1991 in Estonia and has offices in all three Baltic countries. It has over 200,000 customers and sells its non-life products across all distribution channels. In 2016 the company reported gross written premiums of around EUR 60 million and currently has 335 employees.
Seesam’s parent undertaking, OP Financial Group, is Finland’s largest financial services group. OP offers diverse banking, asset management and insurance services to companies and private persons. The OP Group includes 180 member banks, over 4 million clients, nearly 12,000 employees and the total assets of the Group exceed 80 billion Euro.
Vienna Insurance Group has close to 200 years of experience in the insurance business. There are about 50 Group companies in 25 countries. Vienna Insurance Group has a staff of about 25,000 employees. The listed Vienna Insurance Group is the best-rated company of ATX, the leading index of the Vienna Stock Exchange. Its shares are also listed on the Prague Stock Exchange.
Ellex advised OP Financial Group on the sale of Seesam Insurance to VIG. In Estonia the client was advised by Partner Sven Papp and Senior Associates Gerda Liik and Martin Mäesalu, in Latvia the client was advised by Senior Associates Sarmis Spilbergs and Mārtiņš Gailis and Associate Kristiāna Matuzeviča, in Lithuana the client was advised by Partner Dovilė Burgienė and Senior Associates Lina Žolynė and Ilona Jančiauskaitė, Partner Marius Juonys, and Senior Associate Alina Makovska.
Seesam was founded in 1991 in Estonia and has offices in all three Baltic countries. It has over 200,000 customers and sells its non-life products across all distribution channels. In 2016 the company reported gross written premiums of around EUR 60 million and currently has 335 employees.
Seesam’s parent undertaking, OP Financial Group, is Finland’s largest financial services group. OP offers diverse banking, asset management and insurance services to companies and private persons. The OP Group includes 180 member banks, over 4 million clients, nearly 12,000 employees and the total assets of the Group exceed 80 billion Euro.
Vienna Insurance Group has close to 200 years of experience in the insurance business. There are about 50 Group companies in 25 countries. Vienna Insurance Group has a staff of about 25,000 employees. The listed Vienna Insurance Group is the best-rated company of ATX, the leading index of the Vienna Stock Exchange. Its shares are also listed on the Prague Stock Exchange.
Ellex advised OP Financial Group on the sale of Seesam Insurance to VIG. In Estonia the client was advised by Partner Sven Papp and Senior Associates Gerda Liik and Martin Mäesalu, in Latvia the client was advised by Senior Associates Sarmis Spilbergs and Mārtiņš Gailis and Associate Kristiāna Matuzeviča, in Lithuana the client was advised by Partner Dovilė Burgienė and Senior Associates Lina Žolynė and Ilona Jančiauskaitė, Partner Marius Juonys, and Senior Associate Alina Makovska.
Ellex has advised First Data Corporation in sale of First Data companies in the Baltic States to Worldline (Atos group)
Atos has announced that its subsidiary Worldline has achieved the completion of the agreement with First Data Corporation announced on July 25th, 2017, for the acquisition of 100% of the share capital of First Data’s fully owned subsidiaries in Lithuania, Latvia and Estonia (First Data Baltics).
Ellex has acted as a local legal adviser in the Baltic States for First Data Corporation in the € 73 million divestment of subsidiaries, financed by available cash.
‘’Investment of such size is a clear testimony of continuous interest and commitment of foreign capital to our region and its main magnet - IT companies. The Baltics is definitely back on radar screen of serious players as more transactions are in pipeline." comments Sven Papp, partner and head of corporate and M&A practice group of Ellex in Estonia.
With a revenue of € 23 million in 2016, First Data Baltics currently employs 200 employees and is the leading financial processor in the Baltics. It provides services to the main Baltic banking groups and a large range of outsourcing services to some banks in the wider Nordic region.
First Data Corporation was advised by partner Zinta Jansons and senior associate Iveta Ceple in Latvia; senior associate Gerda Liik and partner Sven Papp in Estonia and associate partner Robertas Čiočys and junior associate Diana Čerkevičiūtė in Lithuania.
We successfully advised Pontos in a real estate transaction
Ellex Klavins successfully advised Pontos in the sale of real estate property “Saharova Centrs”, located in Riga.
Ellex Klavins team was led by partner Pēteris Dalderis, and the client was advised by associate Beata Plociņa and junior associate Pauls Ančs.
Pontos is a family-owned Finnish company that selectively invests in different industries in Finland and abroad. Pontos invests in growing industries and real estate and development projects in Finland, the Baltic countries, and Portugal.
Ellex advised the shareholders of Baltic Retail Properties in the sale of 70 % shareholding to the fund CPA®:17
Ellex represented the shareholders of Baltic Retail Properties, BRP (the President of Kesko Senukai Artūras Rakauskas, the founder of Senukai network Augustinas Rakauskas and the investment group Žabolis ir partneriai) in the sale of a 70 percent shareholding to the US company W. P. Carey’s managed fund CPA®:17 – Global and a 10 percent shareholding to Kesko. In the Baltic countries, BRP possesses 19 commercial and logistics buildings that are leased to Kesko-Senukai (leading DIY operator in the Baltics).
Following this transaction, BRP shareholders hold 20 percent of BRP shares. This has been the largest real estate portfolio transaction in the Baltic region this year.
Ellex Raidla team involved Senior Associate Alla Kuznetsova and Partner Martin Käerdi, In Latvia the client was advised by Senior Associate Māris Brizgo and in Lithuania - Associate Partner Indrė Jonaitytė-Gricė, Senior Associate Donata Montvydaitė, Partner Tomas Milašauskas, Senior Associate Rūta Besusparytė and Senior Associate Laurynas Narvydas.
Ellex Klavins advises Unistars in its acquisition by mobile operator Bite
The mobile operator Bite has acquired the telecommunications company Unistars. Unistars is a Latvian telecommunications operator, which offers corporate clients a unique multi-service concept and provides high-quality and reliable telecommunications services. The transaction is significant for the future growth of Bite, as it provides it with access to the 5G frequency that will enable the development of new, innovative products and services.
Unistars will continue its current operations as a subsidiary of Bite. The transaction value is confidential.
Ellex Kļaviņš represented Unistars as counsel for the seller. In advance of the sale, a corporate restructuring of the Company was carried out in order to prepare it for the sale.
The client was represented by Ellex Kļaviņš partner and head of real estate practice Ivars Pommers and associate Zane Miglāne.
Ellex advised Livonia Partners on the acquisition of Santa Monica Networks
Ellex advised Livonia Partners, the pan-Baltic private equity firm on the acquisition of Santa Monica Networks Latvia and Santa Monica Networks Lithuania, leading providers of network and IT security solutions in the Baltic region, from Santa Monica Networks Group.
The transaction is expected to close by May 2017.
The Ellex team advising Livonia Partners in Latvia was Zinta Jansons, Reinis Sokolovs, Martins Gailis and Janis Gavars and in Lithuania Robertas Ciocys and Povilas Junevicius.
Livonia Partners is a private equity investment firm based in the Baltics, currently managing €83 million as part of the Livonia Partners Fund I and the Livonia Partners EIF Co-Investment Fund.
To find out more about the transaction, please click here.
Ellex advises Konekesko in the sale of a minority interest in its Baltic machinery trade subsidiaries
Ellex law firm in the Baltics advised Konekesko Ltd in the sale of minority interest in its Baltic machinery trade subsidiaries to Danish Agro group.
Kesko Corporation's subsidiary Konekesko Ltd sold 45% of its Baltic subsidiaries' shares to Danish Agro a.m.b.a.'s group company DAVA Agravis Machinery Holding A/S. In the same context, an agreement was made on options to expand DAVA Agravis' ownership to include the whole share capital of the Baltic machinery trade companies and Danish Agro group's ownership to include Konekesko's agricultural machinery business in Finland.
Konekesko's Baltic subsidiaries engage in the import, selling and servicing of agricultural, forest and construction machinery. Major brands represented by the companies include Claas, Ponsse, Kobelco, and Kubota.
In 2016, the pro forma net sales of the Baltic functions were €129 million and operating profit was approximately €5 million. The debt free price of the shares now sold is approximately €21 million, which has been paid in cash in connection with the closure of the transaction.
The client was advised by partner Raino Paron, senior associate Martin Mäesalu and associate Sven Böttcher in Estonia. In Latvia the transaction was led by partners Liga Merwin and Zinta Jansons and associate Jānis Gavars. In Lithuania the team was represented by associate partner Robertas Čiočys and junior associate Aina Ganusauskaitė.
To find out more, please click here.
Ellex advises Selecta in the sale of Selecta’s Baltic operations
BaltCap Private Equity Fund II managed by BaltCap has signed an agreement to buy the business operations serving the local markets in the Baltic States from European vending and coffee services company Selecta Group. Ellex, a circle of leading law firms in the Baltics, represented Selecta Group in the transaction.
Selecta is a leading vending and coffee services company in Europe. The company has grown its geographic market presence to 15 countries across Europe and serves 6 million consumers every day. The three Baltics businesses employ about 75 people and generate net sales in excess of € 10 million.
Selecta is a leading vending and coffee services company in Europe. The company has grown its geographic market presence to 15 countries across Europe and serves 6 million consumers every day. The three Baltics businesses employ about 75 people and generate net sales in excess of € 10 million.
The transaction is a subject to the approval of the competition authorities. The transaction price is confidential.
The transaction in Estonia was led by Ellex Raidla partner Sven Papp and senior associate Gerda Liik. The transaction in Latvia was led by Ellex Klavins senior associate Sarmis Spilbergs and partner Raimonds Slaidins. The transaction in Lithuania was led by Ellex Valiunas associate partner Povilas Zukauskas and associate Arturas Grimaila.
Ellex Klavins and Ellex Valiunas advise in acquisition of Nordic Cinema Group
European private equity firm Bridgepoint and Swedish media group Bonnier Holding have agreed to sell Nordic Cinema Group Holding AB to the USA cinema chain AMC Theatres. The acquisition would be completed at the deal value of approximately EUR 870 million.
The transaction is conditional upon antitrust clearance by the European Commission, which is expected to be received in the first half of 2017.
Nordic Cinema Group is the largest cinema operator in the Nordic and Baltic regions with 68 wholly-owned cinemas. It is the owner of Forum Cinemas in the Baltics.
Ellex Klavins and Ellex Valiunas together with White & Case and Mannheimer Swartling assisted Bridgepoint and Bonnier in the transaction. The Ellex Klavins team in Latvia was led by senior attorney Māris Brizgo and included senior attorneys Irina Kostina, Mārtiņš Gailis and associates Inese Freivalde, Henrijs Niedra and Krista Zariņa. On the Ellex Valiunas team worked senior associates Giedre Adomaviciute, Dovile Skesteniene, and associate Justas Cesnavicius and it was led by senior associate Ruta Besusparyte.
To find out more, please click here.
Ellex advised Altor Fund in the acquisition of Realia Group
Ellex Klavins, together with Ellex Raidla and Ellex Valiunas advised Altor, the Nordic private equity fund, in the acquisition of Realia Group. Realia Group is the largest service provider in real estate management and brokerage services in the Nordic countries and is also a parent company of Ober Haus, which is one of the oldest real-estate estate intermediary and valuation companies in the Baltics.
The sale and purchase agreement was signed on June 1, 2016, but is subject to approval from the Finnish Competition and Consumer Authority, and is expected to be completed by the end of June. The transaction value is confidential.
Ellex Klavins advised the client on legal due diligence as well as on other transaction related matters. The Ellex Klavins team was led by Zinta Jansons, and associate Reinis Sokolovs.
To find out more, please click here.
We assisted TEVA in a complex pan Baltic acquisition matter
We advised TEVA in a complex pan Baltic (a part of the worldwide) acquisition matter, which includes a complex transfer of undertakings and respective transfer of employees.
This Pan Baltic acquisition of Actavis Baltics (Allergan Generics Group Company) is a part of the multibillion worth deal resulting in acquisition of Allergan Generics by Teva.
The client was consulted regarding the best scenario of acquisition process in respect of work force, determination of possible risks, evaluation of necessary activities, preparation process, drafting of all documents necessary for transfer of employees.
Ellex Klavins advises on major transaction for sale of shares in Latvia’s natural gas utility
Ellex Klavins advised Uniper Ruhrgas International GmbH (formerly E.ON Ruhrgas International GmbH) on the sale of a major stake in Latvia’s sole natural gas utility, AS “Latvijas Gāze” (LG). LG is a Top-10 Latvian company, listed on the NASDAQ stock exchange, with the exclusive rights in Latvia to storage, transmission, distribution and trading of natural gas. The seller, Uniper, part of a global energy company headquartered in Germany, has been a shareholder in LG since its privatization in 1997. The buyer, Marguerite Fund, is a specialized investment fund, backed by six major European financial institutions as well as the European Commission, with the mission to make capital-intensive investments in energy and transport infrastructure projects.
The LG transaction, one of the largest share sale transactions in Latvia in recent years, required multiple innovative solutions to complex regulatory, legislative and legal issues that arose during lengthy negotiations, and occurred against the backdrop of the challenging geopolitical situation impacting the region and the energy markets. The transaction was particularly complex in that it was negotiated and executed concurrently with the “unbundling” of the natural gas market in Latvia as required by EU Directives, wherein Latvia is to imminently adopt legislation that will require both the legal and ownership separation of the natural gas transmission and underground gas storage facility assets of LG from its natural gas trading activities.
The share sale transaction was executed on 28 January 2016. The purchase price is confidential. Uniper was advised by a multi-disciplinary team of Ellex Klavins lawyers led by Ivars Slokenbergs, Senior Counsel.
To find out more, please click here.
Ellex Klavins successfully reorganizes AS Gutta and SIA Spilva (SIA Orkla Foods Latvija now)
In late 2015 two companies – SIA Spilva and AS Gutta – were successfully reorganized, i.e. merged into a single legal entity, which now operates as a single company under name SIA Orkla Foods Latvija.
Law Firm Ellex Klavins was involved throughout the reorganization process and provided full range of legal services in all matters related to reorganization. It also provided help with drafting of all necessary corporate documents. The reorganization was successfully registered with the commercial register on 30 December 2015, according to the schedule. Partner Raimonds Slaidins and Senior Attorney Maris Brizgo represented Ellex Klavins’ team in this project.
“It was a major challenge for our law firm to complete the reorganization process at such a short notice – in just 5 months. We proved that we can do it, Ellex Klavins expert Maris Brizgo comments.
Ellex Klavins advised Cinamon Company in purchase of AS Radio SWH
Ellex Klavins advised Estonian based Cinamon Holding OÜ in the purchase of AS Radio SWH from its previous owner Сommunicorp Group Limited - a media company based in Ireland. AS Radio SWH was founded in 1993 as the first private radio station in Latvia and has constantly attracted wide audiences. The radio station is now owned by director and co-founder Janis Sipkevics, commercial director Filips Rubenis and Cinamon Holding OÜ. Our client in this case was represented by Partner Raimonds Slaidiņš and Associate Reinis Sokolovs.
Ellex Klavins advised Lavazza on the acquisition of coffee brand Merrild
Ellex Klavins Riga office advised Italy’s leading coffee roaster Lavazza on the acquisition of coffee brand Merrild from D.E. Master Blenders 1753. By selling the Marrild brand, D.E. Master Blenders is seeking to comply with conditions set by the European competition authorities for approval of its merger with Mondelez's coffee business.
Ellex Klavins worked in cooperation with Danish law firm Bruun & Hjejle to provide the legal support required for successful completion of the transaction. This work included the performance of a due diligence investigation, as well as advice on corporate, employment and competition matters as they related to the transaction. The Ellex Klavins team was led by partner Raimonds Slaidiņš and associate Reinis Sokolovs.
Denmark's Merrild generates more than 90 percent of its revenues through its roast and ground businesses, and recorded net sales of around 35 million euros last year.
Established in 1895, the Turin-based company Lavazza has been owned by the Lavazza family for four generations. Lavazza is one of the most important roasters in the world, a leader in Italy with a 44.9% share of the retail market in value.
We represented Swiss company Stadler Bussnang in a complex litigation process in Latvia
Our team consulted and represented Stadler Bussnang, the Swiss manufacturer of locomotives, in administrative court proceedings related to the public procurement of new trains. The value of the transaction was 429,24 million Latvian lats. The litigation was initiated by Stadler Bussnang against the Procurement Monitoring Bureau of Latvia, the Latvian company Pasazieru vilciens and a Spanish company Construcciones y Auxiliar de Ferrocarriles. The case possessed a political nature and was widely discussed.
Ellex Klavins advised Mylan on acquisition of Abbott's specialty and branded generics business
Mylan Inc. has successfully completed the acquisition of Abbott Laboratories' specialty and branded generics business of non-U.S. developed markets. Mylan is one of the world’s leading producers of generic and specialty pharmaceuticals. It offers one of the broadest product portfolios, including approximately 1,400 products marketed to customers around the world. With the completion of the Abbott Laboratories transaction, Mylan has expanded its global presence to reach customers in approximately 145 countries and territories.
Ellex Klavins advised Mylan on acquisition matters related to Latvian aspects of the transaction. Our team for this transaction was led by partner Raimonds Slaidins and senior associate Sarmis Spilbergs.
We advised Russian Railways on a major deal in the Latvian logistics sector
French auto maker PSA Peugeot-Citroën sold 75% of its shares in Gefco, its logistics subsidiary in Latvia, to Russian Railways for 800 million euros. The deal was important as Gefco is a significant player in the Latvian logistics sector. Our team acted as a local counsel to the state-owned Russian Railways and advised on Latvian aspects of law, including carrying out a due diligence.
We provided consultations to DFDS in the Karlshamn Express acquisition process
In the complex acquisition process of the Swedish logistics company Karlshamn Express we gave legal advice to DFDS logistics company. Under the instruction of Mannheimer Swartling we provided consultations with respect to the Latvian aspects of the transaction. This transaction allowed DFDS to expand its routes into the Baltics and Russia.
We helped IAC acquire Ask.fm
We assisted IAC, a large US-based internet and media holding company, in purchasing a majority of shares of the Latvian social network Ask.fm. Due to the still developing regulations on the sector, the acquisition touched upon matters such as cross-border personal data protection, safety requirements, and online content monitoring.
We helped Lassila & Tikanoja sell the largest waste management company in Latvia
We guided the Finnish company Lassila & Tikanoja in the sales process of SIA L&T, the largest waste management company in Latvia. The company was sold to the Latvian energy and utilities company Bioinvest and was a significant transaction requiring sensitive structuring and negotiations with the competition authorities.
We negotiated on behalf of Douglas Investments during acquisition of SIA Douglas Baltics shares
During the process Douglas Investments B.V. acquired 49% of the shares of SIA Douglas Baltics from the Lithuanian shareholder UAB Fragrances International. This transaction completed the acquisition process of the majority of shares. We helped Douglas Investments B.V. in the complicated negotiation process due to a complicated history of shareholder conflicts and related issues.
We helped Securitas complete the acquisition of Ave Lat Sargs
We guided Securitas during a two-phase acquisition process during which 100% of the SIA. Ave Lat Sargs shares were transferred to Securitas. This transaction allowed one of the largest security companies in the world successfully to enter Latvia.
We helped Royal & Sun Alliance Insurance Plc to sell a Latvian insurance company to PZU
We provided consultations to Royal & Sun Alliance Insurance Plc (RSA) during the sale of the biggest Latvian insurance company AS Balta to Powszechny Zaklad Ubezpieczen S.A. (PZU). The 360 million Euro transaction was one of the largest M&A transactions in the Baltics and increased Polish influence in the insurance market of the Baltic States and Poland. This deal, plus RSA having sold its stakes in the Lithuanian insurance company Lietuvos Draudimas and Polish Insurance Company Link4 Towarzystwo Ubezpieczen Spolka Akcyjna, permitted RSA to devote all its attention to its core markets.
We provided legal assistance in the sale of the 7,000 square meter shopping centre in downtown Riga
During the sales process of the 7,000 square meter Barona shopping centre in downtown Riga we conducted a comprehensive analysis, participated in the negotiation process, and helped with other transaction-related legal issues.
We advised Lassila & Tikanoja on merger control rules and structuring the sale of this company to its largest competitor
This transaction became a significant development in the Latvian waste management sector when a Finish investor left the largest Latvian waste management company. This departure lead to the consolidation of the waste management market in Latvia.
Our team helped Lassila & Tikanoja to procure the sale of its business. The share sale transaction was challenging because the initial bidders for the Target were its closest competitors. The sale process had to proceed carefully in view of competition laws. Our work included structuring the transaction from a competition law perspective and advising on merger control issues.
Our team helped Lassila & Tikanoja to procure the sale of its business. The share sale transaction was challenging because the initial bidders for the Target were its closest competitors. The sale process had to proceed carefully in view of competition laws. Our work included structuring the transaction from a competition law perspective and advising on merger control issues.
We assisted a financial investor to acquire the shares of technology startup Veset
Veset is innovative technology startup with a progressive idea which attracts the vast attention of investors. This young company provides pioneering cloud-based playout solutions, allowing its customers to create linear TV channels and deliver them to satellite, cable and CDN networks.
We advised and facilitated a financial investor in acquiring a minority share in the company, performed due diligence to identify areas which require legal support and improvements and drafted contracts on the licencing of technologies. We are truly proud to have been part of a progressive project which also required hugely innovative approaches on our part.
We advised and facilitated a financial investor in acquiring a minority share in the company, performed due diligence to identify areas which require legal support and improvements and drafted contracts on the licencing of technologies. We are truly proud to have been part of a progressive project which also required hugely innovative approaches on our part.
Our team advised Velvet Mink on the cross-border sale of a company shares
Velvet Mink are the owners and operators of mink farms. We handled the sale of 50% of the shares in Velvet Mink companies in Latvia and 100% shares in their companies in Denmark. We concluded a shareholders’ agreement with the buyer and helped to sell minks and equipment for the production of mink, both in Latvia and Denmark.
The transaction had a complicated structure and raised taxation and shareholder agreement issues as the buyer (PRC/Hong Kong national) required treatment from the legislative perspective of his country.
Our firm assisted DFDS in its acquisition of Karlshamn Express and its subsidiaries
DFDS, one of the leading shipping and logistic companies in northern Europe, acquired 100% of the share capital of the Swedish company Karlshamn Express and its subsidiaries. DFDS also bought the remaining 50% of the shares of the associated company Karlshamn Express Baltic SIA.
We acted under the instruction of Mannheimer Swartling in matters related to the Latvian aspects of the transaction.
We acted under the instruction of Mannheimer Swartling in matters related to the Latvian aspects of the transaction.
We advised FCC Construccion on issues related to the development of Riga Airport
Our client, a major international construction company, is a part of the consortium which won the tender for the long awaited construction of new infrastructure at Riga International Airport. The other partners of FCC Construccion were a German construction company, Hochtief, and A.C.B. Group from Latvia.
We advised FCC Construccion on; its partnership arrangements with the other consortium members, on the establishment of a legal presence in Latvia, and on real estate and construction aspects related to their work at Riga International Airport.
We advised FCC Construccion on; its partnership arrangements with the other consortium members, on the establishment of a legal presence in Latvia, and on real estate and construction aspects related to their work at Riga International Airport.
We advised Det Norske Veritas and Germanischer Lloyd on merger options related to their Latvian subsidiaries
Det Norske Veritas (Norway) and Germanischer Lloyd (Germany) are two world leading companies in the fields of classification and certification which merged in 2013.
The merger was carried out on a global scale and required efficient structuring from a corporate, employment and tax perspective in a number of countries.
Our team advised the client on tax aspects and helped to choose the most efficient form for merger in Latvia.
Our team advised Lantmännen Cerealia on the sale of one of the largest grain processing companies in the Baltic States
We acted as legal advisor to Lantmännen Cerealia on the sale of its majority shareholding in Latvian subsidiary Rīgas Dzirnavnieks to Malsena, the leading Lithuanian grain processing group. The basis for the transaction was the strategic decision of Lantmännen Cerealia to focus on the Scandinavian market in the future. Lantmännen Cerealia is part of Lantmännen Group – one of the largest Nordic companies involved in the food, energy, machinery and agriculture sectors. The transaction exemplifies the trend of regional consolidation and expansion in the food manufacturing industry in the region, and also marks a cautious upswing in recent M&A activity.
We assisted General Electric Capital in the sale of its Latvian subsidiary to the Swedish financial group Marginalen
In accordance with its responsible and prudent exit from the Latvian market, GE Capital sold its consumer lending and finance company AS GE Money to the Swedish financial group Marginalen. Our team advised GE Capital on all matters related to the transaction.
Our team assisted Outokumpu Oyj, a global leader in the stainless steel industry, to sell its Baltic subsidiaries
We advised Outokumpu Oyj on Lithuanian, Latvian and Estonian parts of the global deal related to the sale of 100% interest in its local subsidiaries to Amari Metals Europe. With this deal the company tried to rationalize and distribute its network in order to reduce working capital by 250 million euros and achieve cost savings of 100 million euros. All our Baltic offices were involved in the project, giving an example of efficient cooperation and united legal assistance.
We advised Icelandair on the novation transaction of aircraft leasing
Icelandair, acting through its representative Aircastle Advisor, needed the novation of a lease agreement for a Boeing 767-300 aircraft registered in Latvia. Our team helped Icelandair with the novation transaction and the subsequent deregistration of the aircraft from the Latvian aircraft register. Both matters had to be performed urgently as our client had committed the aircraft to another operator. We leveraged our work experience with the Latvian Civil Aviation Agency to ensure that the transaction was completed on time.