Firm / Organisation

TGS Baltic

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Managing Partners: Martin Tamme (Estonia), Ivars Grunte (Latvia), Vilius Bernatonis (Lithuania)
Number of partners: 22
Number of lawyers: 130+
Languages: English, Estonian, Finnish, French, German, Latvian, Lithuanian, Polish, Russian

Firm Overview:
TGS Baltic is a full-service business law firm in Estonia, Latvia and Lithuania employing 130+ lawyers across the Baltics. The firm is in strategic cooperation with law firm Vlasova, Mikhel & Partners in Belarus and a member of TerraLex, a global network of independent law firms. The firm’s attorneys have an unprecedented experience mix of serving local and international businesses, the public sector, working with the European Central Bank, the European Investment Bank, institutions of the European Union, and collaborating with top-tier international law firms. The firm has been involved in almost all the major transactions that were completed in the Baltic States since they regained their independence and is currently involved in the most important strategic energy and infrastructure, corporate and litigation projects in the Baltics.

Main Areas of Practice:

Corporate/M&A:

The firm gives full-range corporate and M&A advice from establishments to complex restructurings and local and cross-border M&A transactions to trade and PE clients. The firm’s expertise ranges from real estate, retail and energy to IT and pharmaceuticals. In 2018 the firm advised Ermitažas group, belonging to Vilniaus Prekyba Group — one of the largest trade companies in Baltic States, Central and Eastern Europe region, on the Estonian law aspects in acquiring Bauhof; Euroapteek, part of the Nordic and Central and Eastern Europe’s leading pharmacy group Euroapotheca, on the acquisition of Ülikooli Apteek pharmacy chain in Estonia and major construction materials producer Framm on acquiring concrete manufacturer Lasbet making it the largest concrete factory in Estonia.
Significant Clients: Euroapteek, Ermitažas, LHV Pension Funds Estonia, MSD Estonia, Citypark, Avia Solutions Group, Axflow, City Service, Eesti Energia

Banking & Finance:
The firm advises its clients on regulatory issues as well as transactional matters. Its key strengths lie in alternative funding, crowdfunding, payment services and licensing, a sample of which is a pending bank licence for co-operative bank Eesti Ühistupank — a first bank licence in Estonia that is being processed by the ECB. In 2018 the firm advised FX CFD online trading provider Admiral Markets on a public bond issue.
Significant Clients: DVB Bank America, Swedbank, Nasdaq Baltics, LHV Asset Management, Estonian Co-operative Bank, Admiral Markets

Litigation & Arbitration:
The firm is also well known for its dispute resolution and litigation practices having been involved in some of the most complex and principal Supreme Court cases. Its wide experience extends from tax litigation to corporate, competition, IP, construction, transport and insolvency disputes. The firm has been involved in some of the most publicised white-collar cases, currently representing SOE Port of Tallinn against its former directors in one on the most high-profile criminal cases in recent years and representing Tallinn City Council in a criminal case against former Major of Tallinn. Senior Partner Paul Varul is acting as arbiter in the Arbitration Court of Nasdaq Tallinn in the matter of Olympic Entertainment Group vs. Nasdaq Tallinn Stock Exchange.
Significant Clients: Port of Tallinn, Eesti Energia, City of Tallinn, Swedbank, Luminor, Estonian Center Party, Orica Estonia, Kevelt, TTS Marine

Competition/Antitrust:
The firm’s competition law team’s deal portfolio contains high profile cases from all areas of competition law, including cartels, distribution, dominance, merger control, SGEI and state aid. The team is particularly well-known for its broad experience in state aid matters and has notable experience handling cases in European Commission and courts. The firm is also a market leader in resolving competition law criminal cases. In 2018, the team advised the City of Tallinn in submitting the state aid notification to the European Commission for financing the construction of Tallinn City Hall (Linnahall) and the Estonian Pharmacy Association in appealing the European Commission decision regarding alleged illegal state by Finnish state to Yliopiston Apteekki to the General Court.
Significant Clients: Elering, Omniva (Estonian Post), City of Tallinn, Swedbank, Tallink, Mars, Starman, Boehringer Ingelheim, Merko Ehitus

Real Estate & Construction:
The firm has a full-service real estate and construction team offering advice on infrastructure and development projects such as commercial and retail property matters including real estate M&A. The team is well known for seamless service for developers as well as managing highly complex projects such as distressed assets M&A, alternative financing schemes, complex joint ventures and solving dead-locks in construction and development projects. The firm also excels at planning law and has achieved notable success in this field — for example the firm helped Estonia’s largest offshore wind project to solve their complex planning issues and get the green light to move forward.
Significant Clients: Port of Tallinn, University of Tartu, Maru Ehitus, Invego, Uus Maa, 1Partner, Kodumaja, TTP

Tax:
The firm’s top-tier tax practice handles 30+ tax cases a year. It is especially qualified in tax litigation having been involved in major tax disputes of the region including major criminal cases. The practice also gives transactional advice and assist with tax structuring. In 2018 the firm represented Nordea AB Estonian branch in the Supreme Court in a complicated dispute over the size of the state fees during Nordea AB Estonian branches’ (subsidiary of Nordea Sweden) acquisition of Nordea Finland Plc Estonian branch (subsidiary of Nordea Finland).
Significant Clients: Tallink Group, Luminor (formerly Nordea), Baltic Ground Services, Bauhof Group, Nordea AB Estonian branch

Insolvency & Restructuring:
The firm is historically known for its outstanding insolvency and reorganisation practice led by name partner Paul Varul who has been involved in drafting all legal acts on insolvency and reorganisation law. The firm advises on 50+ insolvency and reorganisation cases annually having special emphasis on the financial sector.
Significant Clients: Luminor (formerly Nordea), Swedbank, Citadele Bank.

Partner Contacts:
Real Estate Contact: Mr Martin Tamme (Managing Partner)
Email: [email protected]
Litigation & Arbitration Contact: Mr Paul Varul (Senior Partner)
Email: [email protected]
Corporate Contact: Mr Leonid Tolstov
Email: [email protected]
M&A Contact: Mr Sander Karson
Email: [email protected]com
Ms Kadri Kallas (M&A)
Email: [email protected]
Banking & Finance Contact: Mr Marko Kairjak
Email: [email protected]
■Tax Contact: Mr Helmut Pikmets
Email: [email protected]
Insolvency Contact: Mr Peeter Viirsalu
Email: [email protected]

Articles, Highlights and Press Releases

Total 8 Articles, Highlights and Press Releases

TGS Baltic advised the Ministry of Economics on acquisition of 16,05% of AS Conexus Baltic Grid.

Linda Štrause, Nauris Grigals, Marius Matonis Andra Rubene Nauris Grigals Linda Štrause Māra Stabulniece Aija Kreicberga Jekaterina Anohina Raivis Znotiņš Rūdolfs Vilsons Reinis Grunte

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TGS Baltic advised the Ministry of Economics on the acquisition of AS Conexus Baltic Grid shares

Linda Štrause, Nauris Grigals, Andra Rubene, Marius Matonis, Māra Stabulniece, Aija Kreicberga, Raivis Znotiņš, Rūdolfs Vilsons, Reinis Grunte, Jekaterina Anohina

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TGS Baltic provided legal assistance to the Expobank AS

Alise Eljašāne, Jekaterina Anohina

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