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.