Sorainen has successfully represented the insolvent credit union Taupkase (under the administration of Klaipedos Administratoriu Biuras) in a dispute with employees over the amount of downtime pay and termination compensation they are due.
Cobalt Lithuania has advised KJK Sports on its acquisition of 100% of the shares of Baltic Bicycle Trade UAB from Denmark's Asgaard A/S and Lithuania's Litcapital I. TGS Baltic advised Asgaard and Litcapital I on the sale, which remains contingent on competition clearance and is expected to close in the third quarter of 2019.
Ellex Valiunas has advised US private equity company Hammond, Kennedy, Whitney & Company, HKW, and its affiliated company Xirgo Technologies on their acquisition of a 100% stake in Baltic Car Equipment, a Lithuanian company which manufactures electronic equipment and develops IT solutions for transport and agricultural machinery.
Sorainen and Mannheimer Swartling have advised telecommunication company Bite on its agreement with Tele2 to create a shared radio access network in Lithuania and Latvia. TGS Baltic and Vinge advised Tele2.According to Sorainen, the partnership is expected to boost the 5G network development process and benefit for the development of modern economies in Latvia and Lithuania. It will also enable companies to increase service quality for their clients by offering a wider, stronger network and optimizing each party’s network infrastructure maintenance and development costs.
Dentons and TGS Baltic have advised the Republic of Lithuania on the issuance of EUR 650 million 0.500% Notes due 2029 and EUR 850 million 1.625% Notes due 2049. BNP Paribas and J.P. Morgan were the Joint Lead Managers on the issuance. Freshfields Bruckhaus Deringer was international counsel and Sorainen acted as Lithuanian counsel to the underwriters.