TGS Baltic | View firm profile
TGS Baltic, in cooperation with Vinge, assisted Swedish private equity company Helix Kapital with selling its shares in Spring Media Group, an international full-service sports media agency, to the global sports and entertainment business Two Circles.
HLXK Kapital AB sold 100% of its shares in Spring Media Intressenter AB, a Sweden-based parent company of Spring Media group, to Two Circles AB. Spring Media group includes SIA 4.vara, a sports media company important for national security registered and operating in Latvia.
The parties signed the share purchase agreement on 25 October 2024 and closed the transaction on 28 October 2024. The transaction entailed a buyout of the shares of SIA 4.vara from the local minority shareholders by Spring Media AB, the majority shareholder of SIA 4.vara.
TGS Baltic ensured Helix Kapital full transactional support regarding issues related to Latvian law and Latvian jurisdiction. The assistance included regulatory advice on national security clearance from the Cabinet of Ministers of the Republic of Latvia for changes in the ultimate ownership structure of a company important for national security (Latvian foreign direct investment regime), consultations related to free-to-air broadcasting regulatory issues and tax consultations, as well as transactional advice and assistance with the closing regarding the buyout of the minority shares of the Latvian subsidiary.
TGS Baltic team was led by partner Andra Rubene and assisted by senior associates Anna Vaivade, Vladlena Rudusāne and Rūdolfs Vilsons.
About Helix Kapital
Helix Kapital is a Swedish growth-oriented investment company that invests in SMEs in the Nordic region with proven and profitable business models.
For more information about Helix Kapital, please visit site.
About Spring Media
Spring Media is an international full-service sports agency specialising in rights management, streaming solutions, production services and growth marketing. Spring Media group serves some of the biggest leagues, federations, teams and broadcasters in the world.
For more information about Spring Media, please visit site.
About 4.vara
SIA 4.vara operates a sports TV channel TV4, a sports media channel https://sportacentrs.com/ and provides various types of video services in Latvia (its customers include the Parliament (Saeima) of the Republic of Latvia, LMT, Tet, Swedbank, Air Baltic, etc.) and abroad (at major sporting events, where live broadcasts have been shown on Eurosport and the largest Northern European TV channels).
Please read about the transaction in English here and here.
TGS Baltic is a top-tier full-service business law firm in Latvia, Estonia, and Lithuania, employing more than 170 lawyers across the Baltics http://tgsbaltic.com/