TRANSFER
We will be glad to assist in arranging a sale of your business, or represent a buyer in acquisition of target companies. Both finding a buyer services as well as related tax and legal services or purchase of going concern including assisting in ensuring financing may be provided.

Steps of a sale are as follows:

1. Preparing financing for acquisition and related tax planning;

2. Entering into confidentiality agreement with potential buyer/seller;

3. Provide summary prospect for potential buyer;

4. Negotiations with a buyer/seller concerning terms of the a sale;

5. Providing data room with the target financial, legal and tax data;

6. Closing of contract;

7. Post acquisition services.

We look forward to the future co-operation!

For investments into real estate in Latvia and Norway, please, see offers at www.realestateeu.eu

Latvia rewiev

Gencs Valters Law Firm is pan-Baltic law firm with its own offices in Tallinn and Vilnius. Besides that, the firm is exclusive Multilaw member firm for the Baltics.

The firm was strengthened in January 2010 with the addition of Jana Orlova from SEB in-house team. Girts Graudups left the firm to head the Compliance department of Hipoteku banka.

Valters Gencs led a team representing the Government of Latvia and the Privatization agency to evaluate possibility of privatization and MBO of Lattelecom with Blackstone taking 51% stake with a total value of transaction LVL 290 million (EUR 417 million), and management taking 49%, by buying out Swedish TeliaSonera. The firm also represents the State Regulation Agency which issues licenses and sets tariffs in energy sector, particularly in relation to PPP projects.

Further Valters Gencs led a team representing the Ministry of Environment and the Government on sale of emission 10 million CO2 quotas to the Netherlands and Austrian governments based on the Kyoto protocol. The deals were closed with a total value of 50 million EUR.

In banking and finance work the firm’s clients include the state owned Hipoteku bank investment vehicle Hipo fondi in pension schemes of total 23 million lats (33 million EUR). The firm has advised private equity investment fund BaltCap on its investments in timber industry related companies Vika wood and Storent. Our clients include Quadriga Capital Russia, a sister company of the Frankfurt based Quadriga Capital. The firm assisted Structured Credit International, a New York-based firm that provided Parex bank with advisory services on a broad range of capital market concerns after the Parex bank was acquired by the Latvian state.

In M&A, Aija Lure led a team which advised Estonian company Tallink, having ferry line in between Riga and Stockholm and owned by Estonian investment company Infortar in acquisition the hotel facilities in the center of Riga. The Hotel was opened April 2010.

Further Valters Gencs represented McDonalds in sale of its pan Baltic business to Malta Investment fund. The fund acquired the Latvia restaurants of Mcdonalds Corp, an Oak Brook-based owner and operator of fastfood restaurants.

Over the last 10 years the firm represents the Stockholm School of Economics in Riga.

Lithuania rewiev

Gencs Valters Law Firm is pan-Baltic law firm with its own offices in Tallinn and Riga. Besides that, the firm is exclusive Multilaw member firm for the Baltics. The firm’s Lithuanian office, which boasts ex Lawin Lideika Valiunas lawyer Dovile Alekniene, was launched in 2009 in Lithuania.

Dovile Alekniene represents Belgium credit insurance company Ducroire | Delcredere SA.NV's in a mission in Lithuanian to protect its clients against the risks associated with domestic and international commercial transactions and to facilitate the financing thereof.

In M&A Dovile Alekniene teamed up with the London law firm Penningtons in acquisition of business in Lithuania for Nexum Insurance Technologies, provider of software solutions for Scandinavian insurance company If, Swedbank and Lansforsakringar bank.

RECENT TRANSACTIONS:

IT and Telecoms
1. Providing legal advise to the Latvian Privatization Agency in relation to privatization of the Lattelecom 51% state share, a fixed line national telephone company, and Latvian Mobile Phone, a leader in mobile telephone services in Latvia, value, over 1 billion EUR.

2. Bidding for the third mobile telephone license company SIA "Bite Latvija" purchase of shares. We did full legal due diligence on the company. In 2002 by decision on the allocation of radio frequency spectrum usage rights to SIA "Bite Latvija" this company become the third mobile telephone company in Latvia with more than 155 thousand clients in October 2007, biggest in Lithuania. In 2007 January decision by the Danish investor TDC was taken to sell the shares. Bidder was represented by Skadden Arps Slate Meager&Flom. Sale was closed by 450 million EUR (316 million lats). 

3. Acquisition by German chip maker for mobile phones and mobility devices Infineon going concern of software development business in Latvia.

M&A
1. Acquisition by Estonian Liviko send biggest alcohol producer in Latvia LION, total consolidated turnover 108 million EUR, 500 employees. Completed October 4, 2007.

Banking and Finance
1. Represented Demag DeLaval Machinery (Sweden) which later changed a name to Siemens in reconstruction of thermo electric power station TEC-1. Value - EUR 270 million.

2. Providing service to Nordic investment bank as well European investment bank  in relation to loans to Latvenergo, the national energy company in Latvia, total amount exceeding of EUR 168 million.

3. Representing Firebird Republic Funds which is US based investment fun in financial sector in hostile squeeze out bid from SEB AB, Swedish bank in minority shareholding in SEB Latvijas Unibanka, one of the biggest Latvian banks.

4. Proving service to Estonian Suprema Investment Bank, a subsidiary to Finish Elvi group as well as investment bank Guild Bankers in relation to investments in Latvia.   

5. Opinion to Swedish bank DnB Nor regarding financing of Latvian company SIA Talsu BioEnergija.

Real Estate
Finance and tax advise to Korsnas AB group for sale of forest asserts to Foran Real Estate SIA. Value - EUR 8 million.

Representing one of the biggest city municipalities in court regarding lease of assets agreement for the city heating system.

Competition and Antitrust
Advice to London’s Sherman & Sterling on antitrust and merger control issues.

Representing German cosmetic producer Beiersdof in misleading advertisement case in a court.

Tax
Tax advises to Coca- Cola and McDonads on international taxation. More than 10 years experience in tax field, Valters Gencs used till 2002 be a head of Ernst & Young tax service line.

Representing French Alstom Power Hydro in precedent setting VAT refund return case in a court.
 

  Intellectual Property
Representing owners of SPALDING basketball trademark in counterfeiting matter,

Advising General Motors on franchising matters, GENERAL MOTORS divisions like SAAB in infringement matters.

Employment
1. Arranging and maintenance as a function of human resources outsourced department for three Latvian flag ships sailing in international lines-Latvia-Sweden, Russia, Germany, Lithuania, Norway, operated by Scandlines in the Baltic sea.