A booming economy – with some legislative updates hampering the smooth sailing of corporate operations – and frictions with China and Belarus are the key updates for Lithuania, according to Glimstedt Partner Andrius Ivanauskas.

Walless has advised Vilniaus Baldai on its EUR 6 million issuance of six-year bonds. TGS Baltic advised the State Aid Fund for Business on purchasing all the bonds. 

Ruta Armone, Migle Petkeviciene, and Dovile Stancikaite have been promoted to Partner at Ellex in Lithuania. 

Head of Public Procurement specialization group Karolis Smaliukas and Head of Energy Industry group Paulius Zapolskis have been promoted to Partner at TGS Baltic in Lithuania, as of January 1, 2022.

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

Sorainen has promoted nine new Partners in three different countries. Estonia's Kaido Kunnapas and Katlin Krisak, Lithuania's Simonas Skukauskas, Monika Malisauskaite-Vaupsiene, Evaldas Dudonis, Kazimieras Karpickis, and Indre Sceponiene, and Belarus' Ann Laevskaya and Kirill Laptev have all joined the Sorainen partnership at the beginning of 2022.

Rokas Jankus and Edvinas Lenkauskas have been promoted to Partner at Motieka & Audzevicius, as of January 1, 2022.

Norton Rose Fulbright, Krehic & Partners, and Magnusson have advised Inter Cars on the extension, increase, and reorganization of senior facilities in the aggregate amount of PLN 1.84 billion. Clifford Chance advised the financing consortium.

Contributed by ILAW Lextal.

Sorainen has advised Gjensidige on the SEK 1.4 billion acquisition of Falck Roadside Assistance from Falck Investment Sverige. Gernandt & Danielsson advised the seller.

Sorainen has advised Nordcurrent on the acquisition of the Ukrainian game developer Rin Games.

Sorainen has advised investment company Atsinaujinancios Energetikos Investicijoscon on a non-public four-year green bond issue, with a total value of EUR 25 million at a 5% annual coupon. 

Sorainen has advised INVL Asset Management's Baltic Forests Fund I on the sale of its 1,300-hectare forest portfolio in Lithuania to the Latvian Forest Company.

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

Primus has advised the Lithuanian Business Angels Fund on leading the EUR 1 million seed funding round of Vilnius-based open data platform Okredo.

Marius Matiukas has joined Adon Legal as Partner.

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.

On September 28, 2020, CEE Legal Matters reported on state-owned Ignitis Group’s initial public offering and admission to the Vilnius and London stock exchanges. We spoke with Walless Partner Joana Baublyte-Kulviete to learn more about the offering.