Deals & Cases 2008
AS Akciju komercbanka Baltikums has sold to AS Latvijas Krajbanka 93.46% of the shares in AAS Baltikums Dzīvība. The value of the transaction is 2.5 million lats. Raidla Lejins & Norcous advised AS Akciju komercbanka Baltikums in negotiating the SPA.
The banking syndicate formed by MKB Bank Zrt (Hungary), AS SEB Banka and AS UniCredit Banka has granted a loan financing in excess of EUR 80,000,000 to SIA Dīksna for the construction and development of Riga Plaza, a new shopping, recreation and entertainment mall in Riga city.
Raidla Lejins & Norcous Riga office advised and represented the financing banks in structuring and drafting the loan and security documentation and perfection of the relevant security interests.
The Government of the Republic of Latvia and the European Investment Fund have entered into the Funding Agreement to establish a holding fund for the purpose of financing expenditure in respect of operations comprising contributions to support financial engineering instruments, such as venture capital funds, guarantee funds and loan funds, to enterprises, primarily small and medium-sized ones.
The Funding Agreement is entered into pursuant to the EU Council Regulation (EC) No. 1083/2006 laying down general provisions on the European Regional Development Fund, the European Social Fund and the Cohesion Fund and the Commission Regulation (EC) No. 1828/2006 setting out rules for the implementation of Council Regulation (EC) No 1083/2006 and of Regulation (EC) No 1080/2006 of the European Parliament and of the Council on the European Regional Development Fund.
Raidla Lejins & Norcous Riga office advised the Government of Latvia.
Leading Latvian forestry companies, SIA Stora Enso Mezs and AS Latvijas Finieris have set up a joint venture SIA SELF Logistika to carry out roundwood logistics operations with an aim to optimize efficiency and profitability of the function.
Raidla Lejins & Norcous Riga office advised SIA Stora Enso Mezs on the issues of establishment of the joint venture.
Poland’s largest fuel refiner, PKN Orlen, jointly with the Kuwait Energy Company have acquired SIA Odin Energi Latvija (currently renamed SIA Balin Energy), a Latvian company holding oil and gas exploration and production rights in the Baltic Sea, off the coast of Latvia.
Lejins Torgans & Partners advised PKN Orlen and Kuwait Energy Company in Latvian law matters and assisted throughout the process of share purchase.
BaltCap, a private equity investor in the Baltic States has acquired from Interinfo Holding SCA 100 percent of shares of the Interinfo group companies in Latvia, Lithuania and Estonia. Interinfo is the leading operator of “yellow pages” and electronic directories in the Baltics.
RoshierRaidla Baltic offices, including Lejins Torgans & Partners, acted as legal counsel to BaltCap in the process of due diligence of the target and preparation of the transaction documentation.
Rigas pasvaldibas SIA Rigas Satiksme and Affiliated Computer Services Solutions France S.A.S. (ACS) have incorporated joint venture SIA Rīgas Karte. The joint venture has been created to implement e-ticketing system in the public transport of Riga city.
ACS is the group company of Affiliated Computer Services, Inc. (USA). Affiliated Computer Services, Inc. is a premier provider of diversified business process outsourcing (BPO) and information technology outsourcing (ITO) solutions to commercial and government clients worldwide. Affiliated Computer Services, Inc. is a FORTUNE 500 company of 62,000 people supporting client operations reaching more than 100 countries.
Lejins Torgans & Partners assisted ACS with the legal aspects of incorporation of the joint venture and commencement of the project in Latvia.
On 2 January 2008 the sale of the real property portfolio of SEB in the Baltic countries to Homburg Invest was announced. The purchase price of the portfolio amounts in excess of EUR 200 million.
Lejins Torgans & Partners assisted SEB Merchant Banking with the legal aspects of financing of the acquisition and collateralization of the real estate portfolio in Latvia.
On 23 November 2007 the Financial and Capital Market Commission approved the acquisition by Borse Dubai Limited of a qualifying holding in AS Rīgas Fondu birža (Riga Stock Exchange) and AS Latvijas Centrālais depozitārijs (Latvian Central Depository) through purchase of up to 100% of shares in OMX AB (publ).
Lejins Torgans & Partners, in cooperation with Linklaters, assisted Borse Dubai Limited in obtaining the approval of the Financial and Capital Market Commission.
Jästbolaget AB, a subsidiary of Orkla ASA, has accomplished mandatory takeover bid with respect to the shares of AS Rīgas Raugs. As a result of the bid, Jästbolaget AB has acquired 95.10% of the shares of AS Rīgas Raugs.
Lejins Torgans & Partners advised and assisted Jästbolaget AB in the acquisition of the stake of 40.62% shares of AS Rigas Raugs from Polttimo Yhtiöt Oy, including clearance with the Latvian Competition Council and in subsequent mandatory takeover bid process, including the approval of the takeover bid by the Financial and Capital Markets Commission.