TGS Baltic has advised Laimonis Kravalis and Daiga Grigale, the majority shareholders of AS Interbaltija AG, on the buy-out of minority shareholder SIA Wine Holding and the subsequent sale of 100% shares of AS Interbaltija AG to Amber Beverage Group. The Latvian office of Eversheds Sutherlands advised SIA Wine Holding.
According to TGS Baltic, "it is planned that AS Interbaltija AG will carry on with its operations as an independent company under the leadership of its current CEO Laimonis Kravalis. AS Interbaltija AG will continue focusing on the development of premium brands in the HoReCa segment, using the support of Amber Beverage Group and their expertise in logistics, IT, and legal solutions."
TGS Baltic also reports that "due to the concentration in the beverages wholesale markets, the transaction was subject to clearance of the Latvian Competition Council, which evaluated that the transaction will concern fourteen wholesales markets, such as beer, cider, sparkling wine, Champagne, traditional grape wine, fortified wine, mulled wine, vodka, whiskey, brandy, cognac and Armagnac, rum, tequila and liqueur."
Interbaltija AG 2016 turnover was EUR 6.83 million, and the company employed 34 employees. Amber Beverage Group was established in October 2014 as the result of the consolidation of SPI Group companies in the Baltics.
The TGS Baltic team was led by Partner Inese Hazenfusa, supported by Associates Rudolfs Vilsons and Jekaterina Anohina.
The Eversheds Sutherlands team consisted of Of-Counsel Baiba Strupisa and Senior Associate Sarmite Grebeza.