TGS Baltic has advised Enterprise Investors on the sale by the Polish Enterprise Fund VI and minority shareholders sale of Novaturas, the largest tour operator in the Baltic States, to Itaka Holdings. Deloitte Legal advised the buyers on the deal.
TGS Baltic describes Itaka Holdings as "the largest tour operator in Poland and the most important tour operator in the Central and East Europe," and reports that "Novaturas ... provides services of organizing holiday packages and roundtrip travels." According to TGS Baltic, "it is the largest tour operator in the Baltic States." In 2016, Novaturas generated EUR 102 million in income.
The Polish Enterprise Fund VI paid EUR 40 million for 71% of Notaturas shares in 2007. The TGS Baltic team advised Enterprise Investors on that previous deal as well.
The TGS Baltic team was led by Partner Marius Matonis, Associate Partner Aurimas Pauliukevicius, and Associate Andrius Voska.
The Deloitte Legal team was supervised by Warsaw-based Partner Jan Jarmul and included Warsaw-based Managing Associates Maciej Wroblewski and Anna Dobosz, with local input from Vilnius-based lawyers Tomas Davidonis and Tomas Mieliauskas.