Sorainen has advised BaltCap on the sale of Kelprojektas to Swedish technical consultancy firm Tyrens. Eversheds Sutherland advised Tyrens on the acquisition.
TGS Baltic, working in cooperation with Dentons’ UK and Middle East offices, has advised UAB Lietuvos Energija in approving a medium term note program upsized to EUR 1.5 billion, and issuing a EUR 300 million bond issue under the same program. Banking groups BNP Paribas, J.P. Morgan, and SEB Bank acted as intermediaries for placement of the issue. BNP Paribas and SEB were represented by Ellex Valiunas, while J.P. Morgan was reportedly advised by Clifford Chance.
Sorainen has advised real estate management and development company MG Valda on the sale of the Verslo Trikampis business complex. The buyer, real estate fund LIM Verslo Trikampio NT Fondas, controlled by fund management company Lewben Investment Management (which in turn is owned by the Lewben Group), was represented by Cobalt.
The Vilnius office of Fort Legal has represented EfTEN Real Estate Fund III AS on its EUR 9 million acquisition, made through subsidiary EfTEN Evolution UAB, of the Evolution business center in Vilnius from Evolution Office System UAB, owned by Audrone Petraitiene ir Nordija UAB. The deal was finalized on May 31, 2018. The sellers were advised by Vilnius Law Firm No 9.
The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”
The new Lithuanian Concessions Law came into force on January 1, 2018. With the new legislation, Lithuania has adopted European Parliament and Council Directive 2014/23/EU on the award of Concession Contracts, which establishes a balanced and flexible legal framework for the award of concessions and ensures effective and non-discriminatory access to the market for all economic operators. The new Lithuanian legislation aims to ensure transparency and fair competition in the development of infrastructure and the provision of services of general economic interest, as well as the attraction of national and EU-wide private investors to the public sector.