Category: Lithuania

Triniti Jurex has advised Nordic Minds on the sale of a majority stake in Tolimojo Keleivinio Transporto Kompanija to C Company. Motieka advised C Company on the matter.

Tolimojo Keleivinio Transporto Kompanija is a Lithuanian intercity bus operators. According to Triniti Jurex, “for decades, TOKS has played a key role in Lithuania’s passenger transport industry, ensuring regional and international connectivity.”

The Triniti Jurex team included Partners Giedre Ciuladiene and Karolina Laurynaite and Senior Associates Jaroslav Simarev, Konstantinas Trisinas, and Violeta Kavaliauskaite-Khalil.

The Motieka team included Partner Rokas Jankus, Senior Associates Aivaras Grigaas, Laurynas Ramonas, and Darius Amsiejus, and Associate Raminta Girtaviciute.

Walless has advised Rontgen Aviation Fund on its establishment in Lithuania and on obtaining approval from the Bank of Lithuania.

According to Walless, Rontgen Aviation Fund aims to invest in aviation assets such as engines, landing gear, and components.

The Walless team included Partner Laurynas Narvydas and Junior Associate Ugne Grigaityte.

Walless, working with Reynolds Porter Chamberlain, has advised Ebury on the acquisition of Lithuania-based ArcaPay. TGS Baltic advised ArcaPay.

Ebury is a financial services company.

ArcaPay specializes in international payment solutions.

The Walless team included Partners Andrius Ivanauskas and Joana Baublyte-Kulviete and Senior Associates Migle Jeremiciute and Viktorija Dusajeva.

The TGS Baltic team included Partners Zygimantas Stankevicius and Indre Barauskiene and Senior Associates Paulius Dabulskis, Ruta Tikuisyte, and Rasa Blinstrubiene.

TGS Baltic has advised Zalvaris on its EUR 5 million Siauliu Bankas-arranged public bond issuance and the subsequent admission of those bonds to trading on the Nasdaq Baltic First North market by Nasdaq Vilnius.

Zalvaris is a Lithuanian waste management company. According to TGS Baltic, each bond has a nominal value of EUR 1,000, a 9.5% annual coupon, and a two-year maturity. The issue attracted 647 investors, with an oversubscription totaling EUR 15 million.

The TGS Baltic team included Partner Dalia Augaite and Legal Assistant Gabija Sidlauskaite.

Fort Legal has advised on the sale of Zalgirio Verslo Centras to an Aggressive Capital-managed fund.

Zalgirio Verslo Centras is a business center in Vilnius, Lithuania.

Aggressive Capital is an investment company based in Lithuania.

The Fort Legal team included Senior Associate Agne Meceliene.

Fort Legal did not respond to our inquiry on the matter.

Walless has advised InMedica on its sale to Mehilainen. Cobalt advised Mehilainen.

The transaction remains contingent on regulatory approval.

InMedica Group is a Lithuanian private medical services network.

Mehilainen is a Finland-based healthcare company.

In 2022, Walless advised on InMedica’s acquisition of the Vilnius Implantology Center Clinic (as reported by CEE Legal Matters on September 29, 2022).

The Walless team included Managing Partner Dovile Burgiene, Partner Expert Arturas Grimaila, and Associate Ieva Pikaite.

The Cobalt team included Managing Partner Irmantas Norkus, Partner Juozas Rimas, Specialist Counsel Sandra Juozaitiene, and Senior Associate Augustinas Petkevicius.

Fort Legal Partner Mindaugas Zolynas has become the firm’s new Managing Partner.

Zolynas has been with the firm since 2014. Before that, he was with Lawin as an Attorney at Law between 2005 and 2013. Earlier still, he was with Norcous & Partners as an Associate.

“We look to the future with Mindaugas at the forefront of Fort Legal – new ideas, fresh energy, and the same commitment to delivering exceptional service our clients have known to expect,” stated Fort Legal. “With a decade of dedication, expertise, and an unwavering passion for excellence, Mindaugas is ready to lead us into an exciting new era.”

Walless has advised the European Bank for Reconstruction and Development on co-financing the SIRIN Development warehouse park in Vilnius with Swedbank.

According to Walless, “SIRIN Development is bringing around 100,000 square meters of sustainable, modern warehouse infrastructure to a strategic location in the city. Financed by a EUR 48.4 million facility co-led by the European Bank for Reconstruction and Development and Swedbank Lietuvoje, this project is set to establish a new standard for logistics in the Baltics.”

The Walless team included Partner Gediminas Reciunas and Junior Associate Gina Petkeviciute.

Walless was unable to provide additional information on the matter.

TGS Baltic has advised the European Investment Bank on amendments to its pre-financing and contingent loan agreements with Siauliu Bankas increasing the bank’s investment from EUR 195 million to EUR 255 million for Lithuania’s multi-apartment building modernization program.

According to TGS Baltic, Siauliu Bankas has been active in financing these renovation projects for over 12 years, helping renovate more than 3,000 buildings with a total loan volume exceeding EUR 1.2 billion. The additional EUR 60 million in funding aims to further support Lithuania’s objective to modernize most of its multi-apartment buildings by 2050, reducing energy consumption and improving living conditions. “Siauliu Bankas launched the EUR 200 million SB Modernisation Fund 2, financed by Siauliu Bankas itself, the government, with the EIB as a fund manager, as well as Swedbank, the European Bank for Reconstruction and Development, and pension funds managed by the Siauliu Bankas Group in 2024.” (as reported by CEE Legal Matters on February 21, 2024).

In 2024, TGS Baltic also advised Siauliu Bankas on its EUR 300 million notes issuance (as reported by CEE Legal Matters on September 9, 2024).

The TGS Baltic team included Managing Partner Vilius Bernatonis, Associate Partner Sebastian Okinczyc, and Legal Assistant Enrika Gudzeviciute.

TGS Baltic did not respond to our inquiry on the matter.