Cobalt has advised Latvenergo on its EUR 50 million issuance of six-year green bonds with a fixed annual interest rate and a yield to maturity of 4.952%.

Ellex has successfully represented TD Trans before the Senate of the Supreme Court of Latvia in a cassation claim regarding a Riga Regional Court ruling on the breach of the unfair competition prohibition, where almost EUR 30,000 in loss compensation was awarded.

Cytowski & Partners has advised Trace.Space on its USD 1.5 million pre-seed financing round led by Fiedler Capital and including Foreward, Charlie Sanghurst, and Andris Berzins from Change Ventures.

TGS Baltic has advised Eco Baltia on its inaugural EUR 8 million issuance of three-year bonds. Eversheds Sutherland acted as trustee for the issuance.

Sorainen has helped BITE Latvija obtain the rights to use frequencies enabling 5G services.

Sorainen has advised the Riga Energy Agency on the development of a concept and business model for the Riga Energy Efficiency Fund.

TGS Baltic has advised Vilnius-headquartered renewable energy company Green Genius on its acquisition of a 100-megawatt solar PV project in Latvia.

Sorainen has advised Tietoevry on its lease agreement with developer Capitalica for office space in the Verde office center in Riga's Skanste district.

Cobalt has advised Lightrock and Haniel on leading a USD 30 million investment round into Aerones. 

Cobalt, working with Clifford Chance, has advised joint lead managers Deutsche Bank, Citigroup Global Markets Europe, Erste Group, and Nomura Financial Products Europe on the EUR 750 million issuance of five-year eurobonds by the Republic of Latvia. Allen & Overy reportedly advised the Treasury of the Republic of Latvia.

Ellex has helped Merito Partners set up and launch its Merito Management AIFP alternative investment fund structure in Latvia.

Adon Legal has advised Lithuanian real estate developer Galio Group on receiving financing from Latvia's SEB Banka to complete the development of the Riga-based Gustavs Business Center.

Ellex has advised AS CleanR Group on its completed acquisition of SIA RSC Noma. Sole practitioner Nauris Durevskis advised the sellers.

Much like in other countries in the region, Latvia experienced a strong finish to 2022, with bustling M&A activity being driven primarily by the current geopolitical and economic developments, according to Vilgerts Partner Julija Jerneva.

TGS Baltic has advised Sweden's Bethoc on its acquisition of Sport Revolution from JLSR and Xstunda. Sole practitioners Ilze Lejina and Reinis Sokolovs reportedly advised the sellers.

Cobalt has advised Samsung C&T on its investment and business collaboration with Latvian industrial manufacturer Forta Pro.

Cobalt has advised the European Investment Bank on granting a EUR 39 million loan to plywood manufacturer Latvijas Finieris Group.

Following Russia’s war in Ukraine, Latvia has adopted preventive legislation in the name of its national security and interests. In particular, in May and September 2022, the Latvian Parliament adopted amendments to the law aimed at strengthening its information space. Thus, it is no longer allowed to retransmit programs whose jurisdiction undermines or threatens the territorial integrity, sovereignty, or national independence of another country.