Senior Associate Marta Cera was appointed Co-Head of Ellex's Finance and Tax practice group in Latvia, alongside Associate Partner Valters Diure.

TGS Baltic has advised Tet on its acquisition of shares in Telia Latvija. Ellex advised the sellers on the deal.

TGS Baltic has advised business-to-business distributor of business essentials OptiGroup on its sale to the FSN Capital VI fund.

Contributed by RER Lextal.

Walless has advised KS Holding on the sale of the Ozols shopping center, located in Riga, to Titanium Baltic Real Estate. Sorainen advised Titanium Baltic Real Estate on the deal.

TGS Baltic has advised Wermuth Asset Management platform Green Gateway Fund on its exit from Primekss. Sorainen advised Primekss.

TGS Baltic has assisted the Akropolis Group with obtaining merger clearance from the Latvian Competition Council for its acquisition of SIA Delta Property.

COVID-19 remains one of the most prominent factors, directly and indirectly impacting the overall political, legal, and economic scenes in Latvia, according to Cobalt Partner Guntars Zile.

The real estate market in all three Baltic States is closely related and, although the legal systems vary a bit, buyers face the same or similar issues. Although important details concerning the purchase of real estate are brought forth in the sale contract drawn up by a notary (in Estonia and Lithuania) or attorney at law (in Latvia), in practice various nuances still tend to be left unattended.

An interview with Charles Clarke of Vilgerts, about his path from the UK to Latvia.

In my career, I have lived through four crises. In 1991, when I started a legal business, there was a total economic collapse, with a shortage of the most basic essential goods – no furniture or computers, or even proper light bulbs for the office. Then there was the ‘Russian’ crisis of 2000, a crisis of foreign currency and the ruble. The one of 2008-2010 followed. And now we have the COVID-19 pandemic – perhaps not so much an economic crisis as one arising from a climate of uncertainty.

Sorainen has advised joint lead managers Citigroup, Luminor Bank, Nordea, and UniCredit on Citadele Banka’s EUR 200 million notes issuance, due in 2026. Cobalt and reportedly Allen & Overy advised Citadele Banka.

TGS Baltic, working with Vinge in Sweden, has advised Swedish private equity company Helix Kapital on the Latvian law-related aspects of its investment into international sports media agency Spring Media.

Cobalt has advised IBM in Estonia, Latvia, and Lithuania on the reorganization and separation of its managed infrastructure services business into Kyndryl, which will operate as an independent company.

TGS Baltic has advised shareholders Squalio Group on the sale of its shares to information technology solutions and services provider Softline.

Contributed by Eversheds Sutherland Bitans.

Sorainen, working with Paul, Weiss, Rifkind, Wharton & Garrison, has advised Apollo Global Management on a bond issuance.

Sorainen, working with Wolf Theiss in Poland, has advised iCotton on obtaining a EUR 10 million loan from the Altum Capital Fund. TGS Baltic advised the lender.