Ellex Klavins has advised Eastnine AB on its EUR 25 million acquisition of the Valdemara Centrso office property in Riga from Capital Mill. Fort Legal advised the seller on the deal.

Sorainen Latvia has advised Rpax One on the sale of telecommunications company Baltcom to mobile communications operator Bite Latvija for an undisclosed price. Fort Legal advised Bite on the transaction, which is pending regulatory approval.

TGS Baltic has advised Latvian board games company SIA Brain Games on its acquisition of Lithuanian board game and toys wholesaler and retailer UAB New Media Publishing.

Sorainen has advised Autolux on the takeover of operations and exclusive administration of the Hertz franchise in Estonia, Latvia, and Lithuania.

Andris Lazdins has been promoted to Associate Partner as Ellex Klavins and will Co-Head the firm's Dispute Resolution practice in Latvia with Partner Daiga Zivtina.

TGS Baltic has helped Latvian hotel operator Mogotel register Melliore Asset Management, an alternative investment fund manager, and Melliore EF 1 closed-end AIF (with two sub-funds, Melliore EF 1 and Melliore RF 1), with Latvia's Financial and Capital Market Commission.

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.

TGS Baltic has advised Vika Wood and Byko-Lat, members of the Bergs Timber group, on Latvian aspects of a refinancing transaction with Danske Bank and Svensk Exportkredit of senior term and revolving facilities worth SEK 622 million and EUR 12 million, where the Latvian companies acted as guarantors. Ellex advised Danske Bank and Svensk Exportkredit.

“Compliance and overall tightening of regulations is definitely a hot topic in Latvia,” reports Maris Vainovskis of Eversheds Sutherland Bitans.

Njord Latvia is representing AbeBooks Inc. and AbeBooks Europe GmbH, subsidiaries of Amazon Inc., in a dispute with the Latvian operator of a website who allegedly infringed on the copyright of the companies by using text and images taken from the www.abebooks.co.uk website.

In late 2018, the Competition Council of the Republic of Latvia published the final report on its most recent in-depth sector inquiry on the distribution practices of reimbursed medicines on the wholesale market and potential competition restrictions therein. The sector inquiry had lasted for almost two years, during which the Competition Council gathered information from both the public and the private sectors, approaching seven producers, twelve wholesalers, and several public institutions, such as the State Agency of Medicines and the Health Inspectorate, among others. Although the Competition Council proclaimed that the main goal of the sector inquiry was to analyze potential competition restrictions on the wholesale market, which could be apparent because of the vertical integration of wholesalers and leading pharmacy chains and the exclusivity status of the wholesalers, no infringements proceedings were initiated as a result. Notwithstanding the lack of subsequent infringement proceedings, however, some crucial conclusions were drawn.

The Latvian office of Fort Legal has advised private equity fund ZGI-4 on its investment of EUR 2 million in HansaMatrix.

Derling Primus has advised Skoda Vagonka on its agreement with Pasazieru Vilciens for the production and supply of 32 electric trains in Latvia. The contract for the purchase of electric trains, which includes staff training, equipment for maintenance and a spare parts fund, is worth almost EUR 242 million.

Sorainen has advised Capitalica Baltic Real Estate Fund I on its entrance to the alternative First North market in Lithuania.

Cobalt has advised M.M.M. Projektai, a real estate development and investment group operating in Central and Eastern Europe, on its acquisition of real estate at Brivibas Gatve 201 in Riga from RE Property SIA.

Dentons and Cobalt have advised Latvia's airBaltic airline on its July 23, 2019 placement of 200 million euro issue 6.75 percent 5-year bonds — the largest corporate bond issuance ever originating from Latvia. Linklaters advised J.P. Morgan as global coordinator and it andSEB as joint bookrunners.

BDO Law has assisted Deichmann Apavi, a subsidiary of German shoe vendor Deichmann SE, on its entrance onto the Latvian market.

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.