TGS Baltic has advised Expobank CZ a.s.on the financing of the acquisition by Astor Group Latvia of the shares of SIA Polar Bek Daugava, owner of the Radisson Blu Daugava Hotel, from PBR Hotel.
As previously reported by CEE Legal Matters, the Astor Group was advised by Cobalt, with Deloitte Legal reportedly involved in post-closing transactions.
The sellers were reportedly advised by Sorainen.
Due to reorganization procedures of the acquirers of Radisson Blu Daugava Hotel, a 4-star hotel in Riga, Latvia, the commercial pledges registered on August 2, 2018 were renewed and re-registered following the merger of SIA Polar Bek Daugava into SIA Lampl on December 18, 2018. SIA Lampl is now owned by two private individuals through SIA RHG Riga.
The maximum amount of the secured claim is EUR 28 million.
The TGS Baltic team was led by Partner Inese Hazenfusa and Senior Associate Alise Eljasane, supported by Senior Associate Raivis Znotins and Associate Kaspars Treilibs.
Sorainen declined to comment.