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TGS Baltic and Deloitte Advise CVI on Secured Mezzanine Bonds Transaction for SIA Riga Retail Park

TGS Baltic and Deloitte Legal have advised CVI Dom Maklerski on financing provided to SIA Riga Retail Park for the purposes of co-financing its acquisition of real property as well as the construction and development of the Saga Lifestyle and Shopping Centre in Stopini, a suburb of Riga, by Baltic real estate developer VPH UAB.

The Buzz in Latvia with Filips Klavins of Ellex Klavins

“Without question,” says Filips Klavins, Senior Partner at Ellex Klavins in Riga, “the biggest news was that last week [Friday, February 21] the Financial Action Task Force decided not to put Latvia on its Gray money-laundering List.” Latvia has been under monitoring by Moneyval and the FATF for potentially allowing space for conducting money laundering in Latvia. “The countries that find themselves on the Gray List are the likes of North Korea,” Klavins says. “Not the company you’d want to find yourself in.” Still, he smiles, “the country has been working really hard to avoid that, and we’ve done it.”

Ellex Valiunas has advised Edenred SA on its acquisition of a 60% stake in Lithuania's EBV Finance. The acquisition also included EBV Finance subsidiaries in Bulgaria, Poland, Romania, Spain and Estonia. Penkov Markov & Partners advised Edenred in Bulgaria, as did Wardynski & Partners in Poland, Nestor Nestor Diculescu Kingston Petersen in Romania, and Uria Menendez in Spain.

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