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TGS Baltic Helps Procyone FZE Obtain Merger Clearance from Latvia's Competition Council

TGS Baltic Helps Procyone FZE Obtain Merger Clearance from Latvia's Competition Council

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TGS Baltic has helped Procyone FZE obtain clearance from the Latvian Competition Council for its acquisition of decisive influence over Smart Aviation Holding, the parent company of SmartLynx Airlines. The merger was authorized on August 22, 2019.

Procyone FZE, registered in the United Arab Emirates, owns several companies operating in various aviation-related markets, including aircraft maintenance, repair and overhaul, ground handling, refueling and logistics, aircraft crew training and recruitment, private aircraft charter flights, and tour operator activities.  

SIA Smart Aviation Holdings is a holding company with group companies primarily engaged in leasing aircraft with crew, as well as aircraft crew training and recruitment. 

TGS Baltic's Lithuania-based team included Partner Lauras Butkevicius and Junior Associate Julija Skarziute, and its Latvia-based team consisted of Partner Andra Rubene, Associate Vladlena Rudusane-Simica, and Legal Assistant Martins Galzons.

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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

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