Fort Legal has advised Idavang on a EUR 40 million loan from Swedbank for the early redemption of its EUR 75 million floating rate senior secured bonds, originally due in 2025.
Denmark-based Idavang specializes in pork production.
The Fort Legal team included Partner Mindaugas Zolynas, Associate Partner Aurelija Grigoraviciute-Rimeisiene, and Associate Vilte Vosilyte.
Former Counsel Mantas Juozaitis has been promoted to Partner at Motieka.
Juozaitis, a tax law specialist, has been with the firm since 2009. Earlier, he spent six years in-house with Linas Agro between 2003 and 2009.
“Mantas is a vital member of our team,” commented Partner Ramunas Audzevicius. “His expertise in tax law enhances and expands our ability to deliver top-tier services to our clients. I am confident that his partnership will serve as an additional motivation to further grow the firm and achieve our shared strategic goals. Mantas’ competence and leadership will not only strengthen our tax practice but also inspire his colleagues.”
TGS Baltic has advised Nala Renewables on a EUR 25 million loan from Luminor Bank.
Nala Renewables is an energy and renewable energy investment platform and independent power producer. It has recently acquired a number of solar power plants in Lithuania from Green Genius (as reported by CEE Legal Matters on September 11, 2024).
Luminor is an independent bank operating in the Baltic States.
The TGS Baltic team included Partners Zygimantas Stankevicius and Dalia Tamasauskaite-Ziliene, Associate Partner Sebastian Okinczyc, Senior Associate Simas Paukstys, Associates Evelina Savickaite and Deividas Joksas, and Legal Assistants Samanta Sluoksnaityte and Meda Stankute.
TGS Baltic did not respond to our inquiry on the matter.
TGS Baltic has advised HeavyFinance on forming a partnership with Multitude Bank – backed by the European Investment Fund’s Sustainability Guarantee – to bring more than EUR 17.5 million in funding for farmers in Lithuania and Poland.
HeavyFinance is an agriculture-focused financing platform.
Multitude Bank is a European provider of digital financial services.
According to TGS Baltic, this financing aims to help farmers adopt climate-positive practices, upgrade equipment, and support greener farming solutions. Moreover, the deal leverages a securitization vehicle to achieve lower borrowing costs and enhance financial accessibility.
The TGS Baltic Team included Partners Dalia Augaite and Marijus Krisciunas, Senior Associate Lukas Stankevicius, Associate Nortautas Zenevicius, Junior Associate Kotryna Visockyte, and Legal Assistant Gabija Sidlauskaite.
TGS Baltic did not respond to our inquiry on the matter.
Ellex has advised Delfi Lithuania on its acquisition of the EBIT and HR Week conferences in Lithuania and Latvia.
According to Ellex, with the addition of these events, Delfi plans to broaden its range of event formats, focusing on specific topics and business audiences, thereby diversifying revenue streams and enhancing sustainable growth.
Delfi is a news website in Estonia, Latvia, and Lithuania.
The Ellex team included Partners Ramunas Petravicius and Marius Juonys, Senior Associate Arvydas Gruseckas, and Head of Tax Gintaras Balcius.
Editorial Note: In line with our editorial policy, CEE Legal Matters reached out to Ellex to ask about the counterparty’s counsel. Given that today is the last publishing day of the year for our team, we were unable to allow for the customary 24 hours for a response. Should the firm respond following the publication of this article, we’ll update it with the information received.
Fort Legal has advised EfTEN Capital on the EUR 7.5 million financing for Releven for the development of the Horizontai project in Vilnius. Motieka advised Releven.
EfTEN Capital is an Estonian capital investment manager.
According to Fort Legal, “this multifunctional project, implemented by Releven, will enrich the business district of the capital with modern residential buildings, offices, and retail spaces.”
The Fort Legal team included Partner Ruta Radzeviciute-Meizeraite and Associated Partner Aurelija Grigoraviciute-Rimeisiene.
The Motieka team was led by Senior Associate Aivaras Grigas.
Ellex has advised Accession Capital Partners and Hillary Denmark on the sale of their Plasta Group shares to Cedo.
Plasta Group, headquartered in Lithuania with facilities also in Sweden and a trading company in Germany, focuses on producing plastic products from recycled materials.
Cedo is a UK-based household goods manufacturer.
In 2019, Ellex advised on AMC Capital IV’s investment in Plasta Group (as reported by CEE Legal Matters on April 19, 2021).
The Ellex team included Partners Robertas Ciocys and Lauras Butkevicius, Senior Associates Augustinas Macionis and Andrej Jemeljanov, Associate Mykolas Tamulionis, and Junior Associate Egle Petrosiute.
Ellex did not respond to our inquiry on the matter.
TGS Baltic has advised EIB on its partnership with the Republic of Lithuania to establish a EUR 100 million greener housing initiative.
According to TGS Baltic, the initiative aims to improve energy efficiency in housing. Under an agreement with the Lithuanian Ministries of Finance and Environment, the EIB will administer EU funding to upgrade multi-apartment buildings, leading to lower energy costs and reduced greenhouse gas emissions.
The TGS Baltic team included Managing Partner Vilius Bernatonis and Associate Partner Sebastian Okinczyc.
Ellex has offered pro bono representation in a same-sex parenthood case before the national courts in Lithuania, resulting in the first-ever recognition of same-sex parents.
According to Ellex, “Lithuania’s national courts have, for the first time, recognized the right to maternity for the second mother of the same child. This historic decision represents a significant step forward in advancing legal recognition of same-sex parenthood in a country where the legal framework does not explicitly provide for such rights. This case is a transformative moment for equality, inclusivity, and justice for same-sex families, setting a powerful inspiration for future cases in Lithuania and potentially influencing societal attitudes.”
The Ellex team included Attorney at Law Donatas Murauskas and Junior Associate Rosita Lukseviciute.
TGS Baltic has advised Sun Investment Group on a EUR 8 million bond issuance with an annual interest rate of 11.5%, payable semi-annually.
The bonds have a maturity term of two years and Orion Securities organized the issuance.
According to TGS Baltic, the offering attracted significant interest from investors in Lithuania, Estonia, and Latvia, many of whom were already familiar with the company from a previous bond issue last year, leading to an oversubscription of the bonds.
The TGS Baltic team included Partner Dalia Augaite, Associate Kotryna Visockyte, and Legal Assistant Gabija Sidlauskaite.
TGS Baltic did not respond to our inquiry on the matter.