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TGS Baltic Advises Expobank on Financing of Radisson Blu Daugava Hotel Acquisition in Riga

TGS Baltic Advises Expobank on Financing of Radisson Blu Daugava Hotel Acquisition in Riga

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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.

Latvian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

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