TGS Baltic > Vilnius, Lithuania > Firm Profile

TGS Baltic
QUADRUM BUSINESS CITY
EAST BUILDING 8TH FLOOR
KONSTITUCIJOS AVE. 21A, 08130 VILNIUS
Lithuania

Lithuania > Banking, finance and capital markets Tier 1

TGS Baltic's recent deal flow is particularly impressive, advising on three eurobonds issues with a combined value of €2.8bn. The team has also been very active in financing property developments and infrastructure projects. Žygimantas Stankevičius jointly leads the practice and brings a unique perspective to this space having formerly worked in house at Luminor Bank. Vidmantas Drizga also oversees the team and has a particularly strong track record in capital markets mandates. Other key names include managing partner Vilius Bernatonis, who is highly skilled in project finance, and Mantas Gofmanas, who specialises in capital markets.

Testimonials

‘Very experienced capital markets team, they are well aware of the market and it shows in their work.’

‘From our point of view, TGS Baltic has a unique approach towards the client: they really “owned” all our company’s projects we have handled together.’

‘Vidmantas Drizga and Mantas Gofmanas are both exceptional professionals in the spheres of capital markets in Lithuania. Vidmantas pairs extensive expertise in capital markets with a unique strategic business-minded approach, while Mantas stands out due to his ability to come up with unconventional solutions to the most complex issues.’

‘The capital markets team lead by Vidmantas Drizga and supported by Mantas Gofmanas provide an excellent offering. They are very on the ball in terms of market movements and client contacts. They are efficient and offer practical and commercial advice in a very user friendly manner. They are our go to firm in Lithuania.’

‘This is one of the leading law firms in the market. The firm has managed to maintain its leading role for decades.

‘All members of TGS have a very strong sense of commercial need. TGS always has a very commercial approach. TGS also keeps an eye on today’s realities and is an extremely forward thinking company.’

‘Vilius Bernatonis is not only the best team player the client can have, but also the best lawyer who has a vast knowledge. Vilius listens to his clients and always puts his clients’ legal interests first. His ability to find solutions in difficult situations is simply incredible. I can without a doubt recommend Vilius for all banking and financial operations and I would strongly consider him for extremely complex operations and innovative projects.’

‘I believe TGS’ strength is in their people. The ones I had opportunity to meet and work with were super professional, forthcoming and collaborative, putting client needs and experience before financials and formal contractual arrangements. Extensive network of contacts (not necessarily coming from legal background) facilitates solution resolution as legal aspects of the work are complemented with necessary subject matter expertise (e.g. payments, etc.).’

Key clients

The Ministry of Finance of the Republic of Lithuania

AKROPOLIS GROUP, UAB

Maxima grupė, UAB

AUGA Group, AB

Avia Solutions Group, PLC

European Investment Bank

Ignitis Group, AB

Avia Solutions Group

Lithuanian Post (Lietuvos paštas)

Šiaulių bankas, AB

Medicinos bankas, UAB

Luminor bank, AS

Opera Limited

Revolut bank, UAB

Voluto, UAB

Maneuver LT, UAB

European Merchant Bank, UAB

MBank, SA

Credit Suisse Group, AG

Evernord, UAB

The Bank of New York Mellon

The Bank of Lithuania (Lithuanian Central Bank)

Lithuanian State Aid Fund for Business

Brokerage Firm Myriad Capital

Brokerage Firm Macte Invest

Danske Bank A/S

GPS Capital Markets Europe, UAB

ArcaPay, Ltd

Work highlights

  • Advised The Bank of New York Mellon on its key role as the depositary bank in Ignitis Group’s initial public offering of both shares and global depositary receipts.
  • Assisted the European Investment Bank on the establishment and management of a completely new fund for financing the renovation and modernisation of up to 800 multi-apartment buildings in Lithuania.
  • Advised Luminor Bank AS on the development of commercial paper programme as an innovative product for corporate issuers in the Baltics and advised Region’s leading retailer Maxima Grupė on placing the first issue of this kind in the Baltics

Lithuania > Commercial, corporate and M&A Tier 1

TGS Baltic is highly skilled in private equity transactions, advising major local investors such as BaltCap, INVL and MCI. The team also has a strong flow of M&A transactions, particularly within the healthcare and TMT sectors. The group is also highly skilled in the manufacturing sector, with Vidmantas Drizga being a key name in this sphere. Marius Matonis and Agnius Pilipavičius have been very active in the TMT space, counting the major local tech company Hostinger as a key client. Dalia Tamašauskaitė-Žilienė is a key name of note for the team’s work within the healthcare sector.

Other key lawyers:

Mindaugas Civilka

Testimonials

‘We work with TGS on various corporate matters. What stands out is the direct and continuous attention of the partners to our matters. We know them as leading experts in commercial agreements, labour and M&A matters. We like the response time and practical advice, as well as willingness to learn about our business.’

‘We work with Mindaugas Civilka, whom we know as a leading expert on corporate, commercial and TMT matters. Mindaugas keeps track on new developments and is an opinion leader in technology. Marius Matonis is our key contact for M&A matters and is a leading expert in the area.’

TGS Baltic team was able to manage and solve all issues with high proficiency.

‘Partner Agnius Pilipavicius was the leading lawyer from TGS preparing strategy in order to solve our issue. His exceptional experience in shareholders disputes psychology and in deep knowledge of various methods usually used in such disputes was very useful. Agnius’ advices always were business and result oriented.’

‘TGS partner Agnius Pilipavicius is very experienced in corporate law and his advice helps us to find out of the box solutions for most corporate and corporate governance issues we are facing. We appreciate not only legal advice, but understanding of management principle, company’s psychology and business oriented approach.’

‘TGS team is well staffed, they have lawyers specialising in all the fields we needed – corporate, data protection, general commercial issues, tax issues and specific IT / intellectual property related issues. I was happy with the responsivity of TGS’ team and their expertise and knowledge about our industry.’

TGS works like my internal team and I appreciate that.

‘Our main contact in TGS is partner Agnius Pilipavicius. He has very good expertise in corporate law. Agnius shares his knowledge openly and always provides consultations which are business oriented.’

Key clients

Tesonet

Vinted

Kilo Health

Hostinger

CityBee

Trobos.lt

Barbora

TechZity

Strive (TG Lab)

MobilePay

MCI

INVL Asset Management

BaltCap

LitCapital

Evernord Asset Management

Coinvest Capital Fund

Contrarian Ventures

Opera Limited

Cgates

The Bank of Lithuania (Lithuanian Central Bank)

The State Aid Fund for Business

AmerisourceBergen

Avia Solutions Group

Ignitis Group

Eesti Energia

Klaipėdos nafta

Lithuanian Post

State Enterprise Lithuanian Airports

EPSO-G

Light Conversion

Akropolis Group

Vilniaus prekyba

Ecoservice

SBA Group

Utenos trikotažas

Vilpra Group

Krekenavos agrofirma

Work highlights

  • Advised INVL Baltic Sea Growth Fund on the merger of two leading private chains of healthcare service providers in Lithuania: the Medica Group and InMedica klinika.
  • Advised the founders of Light Conversion in connection with the sale of 25% of shares to 7-Industries.
  • Assisted Hostinger with attracting international investors who acquired more than 30% of the company’s shares.

Lithuania > EU and competition Tier 1

TGS Baltic’s EU and competition has seen some changes with the departure of Darius Miniotas to WALLESS and the subsequent arrival of Rita Paukšte from Motieka & Audzevicius. Paukštė handles competition-related litigation and investigations, with a strong emphasis on the aviation, energy, gambling and financial services sectors. Practice head Lauras Butkevičius is skilled across contentious and non-contentious matters, with a particular focus on local and cross-border merger clearance. Lina Darulienė brings a unique insight into the team due to her former role as Head of the Legal Department of the Competition Council.

Practice head(s):

Other key lawyers:

Testimonials

‘I believe that the strong leadership, vast knowledge and well understanding of business environment makes the team exceptionally strong.’

‘Lauras Butkevičiusnot has vast theoretical knowledge of competition law, having advised clients in a number of competition law matters gives him invaluable practical knowledge.’

Key clients

The Lithuanian Chamber of Notaries

Tele2

SCHWENK Zement Beteiligungen

Saugos investicijų biuras

INVL Baltic Sea Growth Fund (INVL Asset Management)

Cgates

Citadele banka

Lithuanian Pharmacy Association

EUROAPOTHECA

Lithuanian Basketball League

EUROCASH1

Work highlights

  • Advising on the merger control relating to INVL Baltic Sea Growth Fund’s acquisition of joint control of InMedica and MediCA group clinics.
  • Representing the Lithuanian Chamber of Notaries and members of its Presidium before the Court of Justice of the European Union in a referral case to decide on the application of competition law rules to notaries and in particular notaries who function within the Latin notarial system.
  • Advising telecommunication company Tele2 on competition and regulatory issues pertaining to its agreement with Bite to create a shared radio access network in Lithuania and Latvia.

Lithuania > Fintech Tier 1

TGS Baltic's experienced banking team is highly active in fintech matters, particularly in relation to e-money, P2P lending, crowdfunding and cryptocurrency. The team advises both local and international clients, including Paysera and Revolut. Žygimantas Stankevičius, who was formerly head of legal at Luminor Bank, leads the practice and is well-versed in financial services regulations. In 2021, Aistė Patašiūtė and Sebastian Okinczyc joined from SEB bankas and Danske Bank respectively.

Other key lawyers:

Rasa Blinsturbienė; Aistė PatašiūtėSebastian Okinczyc; Karolina Lapinskaitė

Testimonials

‘Strong network of experts able to offer expertise in a wide range of subjects.’

‘TGS Baltic is one of the best law firms in Lithuania in every practice area they are serving. I appreciate their services and client handling. They are always responsive, helpful and resourceful in every case and matter of law.’

‘Partner availability and competence, efficiency, attentiveness to the needs of the client.’

‘Constructiveness, competence, quick answers.’

Key clients

Revolut

ArcaPay

Paysera LT

Guru Pay

PAY88

Saldo Finance

European Merchant Bank

Sollo

OTB Ventures

The Ministry of Finance of the Republic of Lithuania

The Lithuanian post

Mobile Pay

FinPro

Work highlights

  • Advised the Lithuanian branch of Revolut on regulatory and commercial matters.
  • Advised Paysera LT on the 370,000 euros fine imposed by the Bank of Lithuania.
  • Advised the Ministry of Finance of the Republic of Lithuania on the development of a new generation payment platform for operating a single treasury account.

Lithuania > Projects and energy Tier 1

TGS Baltic predominantly focuses on energy and environmental law and was most recently instructed by the Lithuanian government on the threats posed by a new nuclear power plant in Belarus. The team has also been advising the European Investment Bank and others on heating infrastructure investments and transfers in Lithuania. Managing partner Vilius Bernatonis and Paulius Zapolskis lead the team and both have broad expertise in contentious and non-contentious energy law matters.

Other key lawyers:

Rita Paukštė; Gailė Juozapaitytė; Augustinas Razumas

Testimonials

‘Team is great at providing advice in complex situations, so you can expect that all nuances will be covered and guided by the help of a team. They are comprehensively experienced in energy sector (and fields related to the energy sector). You can expect the best’

‘TGS Baltic has outstanding insight into the technical aspects of energy projects, in particular district heating projects. TGS Baltic’s lawyers are highly committed to their clients. It is a pleasure to collaborate with TGS Baltic.’

‘Vilius Bernatonis is closely involved in his cases and always strives to reach the best outcome for his clients.’

‘TGS Baltic has a large and strong energy team with professionals capable of covering a wide range of energy related questions. The team is trustworthy and is able to advise when there is a need to resolve sophisticated and complex questions.’

‘TGS Baltic energy team is lead by Paulius Zapolskis who is a well established professional. Dr. Zapolskis knows the energy market very well, is always ready to offer the legal solutions which are best suitable for each individual situation and is looking for innovative ways to address sophisticated legal situations.’

Key clients

State enterprise Lithuanian Airports

Klaipėdos Nafta

LTG Infra

The European Investment Bank

Vilnius university

KS Investicija

Vilniaus Šilumos Tinklai and Vilnius City Municipality

TELE2

FTI France, SAS trading as Compass Lexecon, and Litgrid

Eesti Energia

Republic of Lithuania, represented by the Ministry of Energy

Alytus City Municipality and UAB Alytaus šilumos tinklai

Work highlights

  • Advised EPSO-G and the Ministry of Energy of the Republic of Lithuania on the threats posed by the Astravets nuclear power plant to national security, environment and public health of Lithuania and the EU.
  • Assisting the European Investment Bank with the financing of the upgrade of heating network and heat generation assets in Kaunas city and district municipalities.
  • Advising Lithuania’s largest provider of heating and hot water Vilniaus Šilumos Tinklai on the transfer of Vilnius city heating infrastructure.

Lithuania > Real estate and construction Tier 1

TGS Baltic’s recent workload has consisted of advising on major real estate and construction transactions in the commercial, retail and residential property segments of the market. Dainius Stasiulis co-heads the team with Sandra Bliuvaitė-Šulcienė, who has a particular interest in land law and territorial planning. Senior associate Simas Paukštys, who also has an interest in planning, is also recommended.

Other key lawyers:

Testimonials

‘Thanks to this competent, diligent, and persistent team, one of the recent lawsuits has been resolved to our benefit!

‘The TGS Baltic real estate team has exceptional experience and knowledge in real estate transaction and regulatory issues. They actively follow and share information on the latest legislation updates and its drafts in the field of real estate: it enables us to prepare for changes in the legal framework in advance.’

‘They constantly and actively follow legislative innovations in the field of real estate, promptly inform not only about already adopted legal acts, but also about draft legal acts, as well as separately noting their potential impact on the real estate projects we are developing. For us, who are developing many exceptional real estate projects simultaneously, this assistance is vital and valuable.’

We are working with Dainius Stasiulis on contractual real estate issues. We appreciate Dainius’ exceptional and long-term experience in the field of real estate, client-oriented approach, and strategic thinking.’

‘In my opinion, this team differs from other due to their genuine understanding of the business. This allows to move efficiently in the negotiation process. Also, the professionalism and attention to detail allows you to sleep well at night knowing that the matter was taken care if with care.’

‘Dainius Stasiulis’ team is professional. It works for you and works towards getting the best solution for you.’

‘What makes TGS Baltic unique is their ability to address the most complex legal issues effectively as well as to advise on a wide variety of topics. We highly appreciate their client-first approach, their attention to detail as well as strategic collaboration with them.’

Key clients

Moller Real Estate Baltic AS

Schage Real Estate

Baltisches Haus, UAB

Lietuvos oro uostai, VĮ

Biotechnological Pharmaceutical Center Biotechpharma, UAB

LTG Infra, AB

Akropolis Group, UAB

BaltCap Infrastructure Fund

Galio Group, UAB

Electrolux, UAB

Sparta, AB

Panevėžio statybos trestas, AB

Terra Prospera, UAB

Klaipeda Free Economic Zone Management Company, UAB

Lietuvos paštas, AB

DS Smith Packaging Lithuania, UAB

Amber Grid, AB

VEIKMĖ, UAB

NEG Recycling, UAB

BIOK laboratorija, UAB

Vilniaus šilumos tinklai, AB

Altechna, UAB

Versina, UAB

Hegelmann Transporte, UAB

Balt-Eagle, UAB

Baltic Engineers, UAB

Work highlights

  • Advised Moller Real Estate Baltic AS on the sale of Audi and Volkswagen dealership buildings in Vilnius via share deal of 100% of shares in SPV’s.
  • Advised Vingio Turtas, UAB on developing Akropolis, one of the biggest shopping and entertainment centres in the Baltic region.
  • Advised Galio Group, UAB on complex real estate regulative and contractual issues in various real estate development projects.

Lithuania > Dispute resolution Tier 2

TGS Baltic is a prominent name  in the energy sector, counting Lithuania’s Ministry of Energy as a key client.  Managing partner Vilius Bernatonis is the key name of note in energy and infrastructure cases involving issues of contractual breaches and indemnity. Practice head Marius Brasiūnas also has an interest in the energy sector as well as being involved in commercial disputes and those in the transport sectors, advising on shareholder disputes and compensation claims. Commercial litigation is also handled by Vidmantas Drizga. The team also has strong capabilities in areas including real estate and construction, where Dainius Stasiulis is a key name, and bankruptcy disputes, a core area of focus for Žydrūnė Stuglytė. Competition specialist Lina Darulienė is also highly regarded.

Practice head(s):

Testimonials

‘TGS has vast experience and very good credibility.’

‘The team is able to cover a broad range of areas that require in-depth expertise.’

‘High quality of work, great work speed and dedication.’

‘The team comprises several highly-skilled litigation specialists, who are extremely well versed in all ins and outs of the Lithuanian civil procedure. They have unwaveringly and efficiently supported us throughout a very complex and high-profile case to our full satisfaction.’

‘Lina Darulienė is able to offer expertise even in niche areas such as competition damages litigation. Unlike most other lawyers, she has graduated from economics as well, which allows her to understand the essence of a commercial dispute faster and better than others. She is very resilient and does not lose focus even in the most stressful situations. To top it off, her communication skills – including the ability to convincingly plead before courts – are amazing.

Vidmantas Drizga has excellent personal and professional qualities for solving complex projects that combine legal and business issues, is an excellent strategic advisor on such issues, which helps to discover out of the box solutions to complex issues.

Key clients

The Ministry of Energy of the Republic of Lithuania

UAB Vilniaus kogeneracinė jėgainė

Vilnius City Municipality and AB Vilniaus šilumos tinklai

Alytus City Municipality and UAB Alytaus šilumos tinklai

MAXIMA GRUPĖ, UAB and FRANMAX, UAB

UAB Impuls LTU

AB Lietuvos geležinkeliai

AB LTG Infra

AB SEB bankas

BAB bankas SNORAS

AB ORLEN Lietuva

EUROCASH1, UAB

AB SMILTYNĖS PERKĖLA

UAB Cgates

SPA Davines

UAB Philip Morris Baltic

TV Play Baltics AS

UAB NEG Recycling

Work highlights

  • Advised the Republic of Lithuania in an investment dispute with Veolia Environnement S.A., Veolia Energie S.A.S., UAB Vilniaus energija and UAB Litesko in investment arbitration case pending before the ICSID Tribunal as well as in a civil case pending before the Lithuanian courts as a result of he termination of bilateral investment treaties between the Member States of the European Union.
  • Acted for MAXIMA GRUPĖ, UAB and FRANMAX, UAB in court proceedings against the former CEOs and members of the Board of related companies for indemnification of damages caused to the claimants.
  • Represented UAB Vilniaus kogeneracinė jėgainė, a company responsible for the construction of a new combined heat and power plant in Vilnius, Lithuania, in SCC arbitration proceedings against Rafako S.A. and its failure to complete one of the plant’s units.

Lithuania > Employment Tier 2

TGS Baltic’s diverse workload ranges from assisting employers with major restructurings and litigation to assisting them with day-to-day HR and employment matters. Practice head Ieva Povilaitienė is well versed in employment matters and through her academic work has even been partially involved in the implementation of the new labour code of Lithuania. She is supported by associate and employment specialist Indrė Mažeikaitė.

Practice head(s):

Other key lawyers:

Testimonials

‘Our company faced various issues with employment law due to COVID-19 but fortunately TGS Baltic helped a lot to deal and solve our concerns. We valued TGS Baltic for its ability to answer all of our needs and find the most favorable solutions to our business and always provide answers in a timely manner. TGS Baltic’s employment team always do such a good and rapid job, they’re organised, strategic, sharp and they’ve always thought about every angle. TGS Baltic is exceptional because they always take the time to understand our business and strategy, also, provide best solutions in every situation when other law firms do not see any proper solution in difficult situations.’

‘Ieva Povilaitiene is extremely impressive and has an exceptional legal mind. She’s very easy to work with, has an immediate grasp of the situation, and provides pragmatic and balanced advice. Associate Indrė Mažeikaitė understands every given situation and view it from a practical point of view and provide practical legal solutions to our business needs. What really marks employment team out is their deep understanding of the employment law – they are the crème de la crème.’

Key clients

Coherent Solutions

Philip Morris

Modus Group

National Blood Center

Santos Dumont

Mambu

Klaipėdos Smeltė

Utenos trikotažas

SBA Modular

Wix.com

SBA Group

Work highlights

  • Advised Philip Morris on the pan-Baltic implementation of the guidelines for remote work, improved and updated employment contracts, confidentiality agreements, and list of commercial secrets.
  • Drafted policy of forming and changing work timetables for all SBA Group companies.
  • Advised Mambu on implementing different on-call duty regimes and adapt it according to employees’ and the client’s different needs and expectations, as the client performs its’ business functions 24/7 regime.

Lithuania > Intellectual property Tier 2

TGS Baltic advises on trade mark and copyright issues, focusing on litigation, contractual issues and general portfolio management. The team is led by Mindaugas Civilka , who has particular strengths in matters involving the IT sector, and recently-promoted partner Indrė Barauskienė, who also heads the firm’s retail and wholesale industry group.  Lina Darulienė, who has been assisting Philip Morris with trade mark issues, is another name to note.

Testimonials

‘TGS knows both the law and our business. It helps a lot, that we do not need to explain them in detail what we do, and why we do. This saves time and gives confidence to us that we are in good hands. Moreover, the legal team that is led by Mindaugas Civilka always provides commercially useful and practical advice rather than trying to lawyer-it-up.’

‘Time of response is key in our business and TGS are always available. We appreciated that we had a dedicated associate partner Indrė Barauskiene for complex copyright and trade mark case, who was always available and ready to consult us on short term basis and was always suggesting out of the box options.’

‘TGS Baltic team that we have been working with has a very in-depth understanding of both how our business works and all the mine fields of IP law – therefore is always able to give quick and straight to the point legal advice.’

‘Associate partner Indrė Barauskienė is a very quick, sharp and professional advisor, and we really appreciate her valuable insights and observations.’

Key clients

Aukštaitijos bravorai

Headex

Maxima Grupė, UAB and Franmax, UAB

Vilnius Academy of Arts

Zyro Inc UAB

Nordic Entertainment Group Sweden AB

UAB Philip Morris Baltic

The Lithuanian Public Broadcaster (LRT)

Vilniaus Šilumos Tinklai (VST) and Vilnius City Municipality

LG Lab

Laisvės TV

EPSO-G

The Lithuanian post (Lietuvos pastas)

Work highlights

  • Advised MAXIMA GRUPĖ on action filed against the former CEOs and members of the Board of related companies and a company registered in Belarus, Mart Inn Food.
  • Advised UAB Philip Morris in court against the Drug, Tobacco and Alcohol Control Department regarding the use of the trademark of IQOS tobacco heating system.
  • Advised Headex in a dispute with software developer UAB Labbis regarding creation of specific software for Headex to calculate complex employment payments for employees who were seconded to foreign countries.

Lithuania > Shipping and transport Tier 2

TGS Baltic's shipping and transport practice comprises an integrated team of specialists operating in areas such as corporate, commercial, projects, finance, competition, employment and tax. Dispute resolution is another cornerstone of the work undertaken by the firm, which generates mandates from clients such as international shipping companies, insurance companies and financial institutions. Gytis Kaminskas, who jointly leads the practice with Žydrūnė Stuglytė, is highly skilled in cross-border disputes and is active in international arbitration. Managing partner Vilius Bernatonis is another key individual.

Other key lawyers:

Testimonials

‘Gytis Kaminskas leads this practice. Dovile Armalyte is also a very good specialist and litigator.’

Key clients

Lithuanian Railways

Lithuanian Airports

Lithuanian post

Klaipėda State Seaport Authority

The Ministry of Transport and Communications of the Republic of Lithuania

Avia Solutions Group

Road maintenance

GirtekaLogistics

Tanagra

AD Baltic

DHL Logistics Lithuania

LTG Infra

Europiir Logistics OU

Work highlights

  • Advised LTG Infra, a state-owned railway company of Lithuania, responsible for managing country’s railway infrastructure network, in several complex civil cases with contractors.
  • Represented an Estonian logistics company Europiir Logistics OU as a respondent in a civil dispute initiated by the claimant Ukrainian company Importerra.
  • Provided legal advice and consultancy services as well as represents in various disputes related to the Vilnius Airport overhaul.

Lithuania > Tax Tier 2

TGS Baltic is highly experienced in advising on the tax aspects of major corporate transactions, restructurings and bond issuances. Robertas Degesys  specialises in both corporate and tax law, and is well-placed to advise on tax issues emanating from corporate transactions. The team also draws upon the expertise of tax consultant Loreta Antanaitienė.

Practice head(s):

Other key lawyers:

Testimonials

‘The team is extremely focused to find commercially sensible solutions for the client.’

‘Robertas Degesys is a top choice for tax structuring in Lithuania and delivers clear advice also on very short notice.’

Key clients

The Bank of Lithuania

The European Investment Bank

The Bank of New York Mellon

European Diversified Infrastructure Fund III

The Ministry of Finance of the Republic of Lithuania

GlaxoSmithKline

Klaipėdos nafta

Avia Solutions Group

Medicinos bankas

Ignitis Group

Šiaulių bankas

Akropolis Group

Pigu LT

Revolut Payments UAB

The Lithuanian National Radio and Television

The European Merchant Bank

Work highlights

  • Advised BNY Mellon on the tax aspects of the IPO of Baltic energy group Ignitis.
  • Advised on the establishment of the Lithuanian Aid Fund for Business aimed to provide liquidity and capital support to Lithuanian companies affected by context of COVID-19.
  • Advised Akropolis Group, the leading shopping and entertainment centre development and management company in the Baltic States, on a multi-million Eurobond issue.

Lithuania > TMT Tier 2

TGS Baltic advises tech companies on issues such as commercial agreements, privacy policies and regulatory compliance, and counts the major car sharing platform City Bee as a key client. The team is also highly skilled in protecting against data breaches and online piracy. Mindaugas Civilka, who leads the firm’s technology and data protection teams, is a key name to note. Also recommended are Indrė Barauskienė and associate Elvina Jurčiukonytė, both of whom have a strong background in IT law.

Practice head(s):

Testimonials

‘TGS Baltic team is client and business-oriented – they have vast experience and understanding of our commercial practices and the market which we operate in. These capabilities make them a much-valued partner. One of their key advantage – availability and attention by senior experts. TGS team is able to provide well rounded legal advice taking into account our policies on customer satisfaction, risk management and possible impact to our other activities.’

‘TGS are able to offer different fee models, including blended rates and fixed fees for specific assignments. This allowed us to have much more flexibility in planning our budget for legal services.’

‘The TMT team is very dedicated, committed, eager to provide actual results in premium response time.’

‘Our main contact in TGS is Mindaugas Civilka. He has very good expertise in privacy, data protection and IT law. Mindaugas Civilka will always try to achieve the result with the least time and cost spent. He also has good knowledge in risk assessments, information / IT security and compliance.’

‘Their TMT team is highly skilled, and knows how to nail down complicated legal matters. The team of Mindaugas Civilka and Elvina Jurčiukonytė are particularly good at drafting complex and rather technical legal contracts. The response time is excellent and you always feel the care and dedication.’

‘TGS Baltic team’s dedication to handling TMT work is exceptional – they have deep knowledge of all matters related to IT sector, and at the same time, they are diversified in their legal field: starting from information security, data, and finishing with advertising law experience. This is extremely helpful while handling not only corporate, contractual matters, but also dealing with regulators.’

Key clients

Microsoft Corporation and Microsoft Lietuva

Hostinger

Maxima LT, UAB and Maxima Grupė, UAB

Eurovaistinė, UAB and Euroapotheca, UAB

Tele2, UAB

Ermitažas, UAB

Lithuanian Radio and Television

Ecoservice, UAB

CityBee

TG LAB

Trobos.lt

Tesonet

Vinted

TechZity

Work highlights

  • Reviewed the whole legal framework for business to consumers / business to business products for CityBee, leading car-sharing platform in the Baltics.
  • Prepared legal framework for all business to consumers / business to business products for Trobos.lt.
  • Provided legal assistance on all the aspects related to set-up of Techzity.lt, a co-working / co-living space platform in Lithuania.

Latvia > Banking, finance and capital markets Tier 2

TGS Baltic advises on major financings and capital markets transactions, with additional strengths in regulatory compliance and banking-related corporate deals. Other areas of activity include advising on fintech, peer-to-peer lending, crowdfunding and employee share schemes. The firm’s pan-Baltic model also makes the team well placed to handle cross-border transactions. Practice head Inese Hazenfusa is particularly skilled in project finance transactions and bond issuances.

Practice head(s):

Testimonials

‘TGS Baltic’s individual qualities are delving into the nuances, ability to listen to the client’s wishes, patience and professional attitude.’

‘The team’s strengths are its high level of responsibility, fast reactions in different situations and high-quality work.’

Key clients

Swedbank

Inchcape

SEB

EstateGuru

FMS Wertmanagement

European Investment Bank

ALTUM KAPITĀLA FONDS

Jyske Bank

Overkill Ventures

4Finance

Rīgas Satiksme

BlueOrange Bank

Evernord

Work highlights

  • Advised Rigas Satiksme in relation to a facility agreement arranged by Česká spořitelna with Česká spořitelna.
  • Advised a financial consortium with respect to the initial public offering of 20m shares of AB Ignitis grupė.
  • Assisted with implementation of TI’s new omnibus employee share purchase plan.

TGS Baltic is a top-tier commercial law firm with offices in all the Baltic countries. We believe lawyers should not only be experts in law – the real added value for our clients comes from our understanding of their business objectives and specifics, as well as the innovative solutions provided by our professionals.

TGS Baltic has been advising international and domestic business organisations and the public sector, including the European Central Bank, the European Investment Bank, various EU institutions, as well as collaborating with top-tier international law firms since the Baltic countries returned to a market economy in the early 1990s. Since then, the firm has been involved in almost all of the major transactions, landmark disputes and legislative developments in the region.

The firm employs more than 140 lawyers covering more than 25 practice areas. Our Baltic team provides solutions to complex legal problems, advises on strategic decisions and gives day-to-day assistance on a wide range of legal issues. TGS Baltic is listed as a top-tier law firm in corporate, M&A, banking and finance, competition, energy, dispute resolution, tax and other practice areas by the most reputable international legal directories.

TGS Baltic has offices in Tallinn, Tartu (Estonia), Riga (Latvia) and Vilnius (Lithuania).

We are in strategic cooperation with Vlasova Mikhel & Partners in Minsk (Belarus) and are members of TerraLex, a global network of independent law firms, and all major international professional law organisations such as IBA, AEL, ILN and EWLA. We work in English, German, Russian, French, Polish and Finnish.

DepartmentNameEmailTelephone
Managing Partner Vilius Bernatonisvilius.bernatonis@tgsbaltic.com+370 5 251 4444
Head of Communications Aira Buskuteaira.buskute@tgsbaltic.com+370 5 251 4444
PhotoNamePositionProfile
Vilius Bernatonis photo Vilius BernatonisManaging Partner, Co-Head of Energy Industry GroupVilnius (Lithuania)
Dr Lauras Butkevičius photo Dr Lauras ButkevičiusPartner, Head of Regulatory Law specialisation group
Mindaugas Civilka photo Mindaugas CivilkaPartner, Head of Technology Industry Group
Dr Lina Darulienė photo Dr Lina DarulienėPartner, Head of Retail and Wholesale industry group (Lithuania)
Robertas Degesys photo Robertas DegesysPartner
Vidmantas Drizga photo Vidmantas DrizgaPartner, Head of Manufacturing industry group (Lithuania)
Mr Mantas Gofmanas photo Mr Mantas GofmanasAssociate Partner
Gytis Kaminskas photo Gytis KaminskasPartner, Head of Transport industry group
Marius Matonis photo Marius MatonisExecutive Partner, Head of M&A (Lithuania)
Aurimas Pauliukevičius photo Aurimas PauliukevičiusPartner, Head of Private Equity & Venture Capital Industry Group
Agnius Pilipavičius photo Agnius PilipavičiusPartner, Head of Corporate Law specialisation group
Žygimantas Stankevičius photo Žygimantas StankevičiusPartner, Head of Finance industry group
Dainius Stasiulis photo Dainius StasiulisPartner, Head of Real Estate & Investments Industry Group
Eugenija Sutkienė photo Eugenija SutkienėSenior Partner, Head of Life Sciences Industry Group (Lithuania)
Dalia Tamašauskaitė-Žilienė photo Dalia Tamašauskaitė-ŽilienėPartner, Head of Transactions and Real Estate specialisation group (Lithuania)
Partners : 33
Employees : 190+
Estonian
Latvian
Lithuanian
Finnish
Russian
Polish
German
French
English
IBA (International Bar Association)
TerraLex
Lithuanian Bar Association
Other offices : Tallinn, Tartu, Riga

 

1.            Assisted IRI Investments BV with acquisition of SIA IRI Forest Assets Latvia (formerly SIA Foran Real Estate), one of the largest forest companies, from Storebrand Livsforsikring AS (70.05%), SPP Pension & Forsakring AB (publ) (29.37%), NORSKOG (0.14%) and Gundars Skudrinš (0.44%). TGS Baltic assisted IRI Investments BV also with participation in the bidding process for Bergvik Skog forest properties and business in Latvia. Value of the only comparable transaction EUR 324 million;

2.            Assisted Euroapotheca UAB pharmacy chain group on signing of a term and revolving syndicated facilities agreement with the total commitment of 185 million euros. Advised pharmacy chain group on receipt of financing from SEB and Swedbank of EUR 185 million;

3.            Assisted Belgian investment group Straco with the acquisition of the horticulture company AS Greenyard Horticulture Latvia from Greenyard as a part of acquisition of its horticulture segment. EUR 120 million;

4.            Advised Swedish Bergs Timber AB (publ) on the acquisition of Vika Wood and Byko-lat (Latvia), EWP AS and Laesti AS (Estonia) and Norvik Shipping (United Kingdom) from Iceland Norvik hf. EUR 70 million;

5.            Advised the Ministry of Economics on the acquisition of 18.31% of the shares of the natural gas transmission and storage system operator AS Conexus Baltic Grid by the Latvian electricity transmission system operator AS Augstsprieguma tikls from the German energy company Uniper Ruhrgas International GmbH. EUR 54 million for 34.36%;

6.            Advised the Ministry of Economics on the acquisition of 16.05% of the shares of the natural gas transmission and storage system operator AS Conexus Baltic Grid by the Latvian electricity transmission system operator AS Augstsprieguma tikls from SIA ITERA Latvija. EUR 54 million for 34.36%;

7.            Assisted US Camera Company Snap Inc. with opening and closing of operations through its subsidiary in Latvia – SIA Snap Latvia. Snap Inc. provides technology and social media services. The company`s flagship product is a mobile camera application Snapchat that helps people to communicate through photos, short videos, images, drawings and texts. Snap serves customers worldwide.

8.            Assisted Expobank CZ a.s. with financing of acquisition of Radisson Blu Daugava Hotel by Astor Group (Latvia) from PBR Hotel (USA). The firm carried out full scope assistance to the financing institution, including drafting of the loan and security agreements, including pledge and mortgage agreements, participated in negotiations of the transaction documents and followed up on establishing of securities and fulfilment of the conditions prior to and after the drawdown. Maximum amount of the secured claim is EUR 28 million.

9.            Provided legal assistance to IK Investment Partners with acquisition of Carspect AB, SIA Scantest, Autotest Polska Sp. Z.o.o and A-Katsatus OÜ from A-Katsastus Group Oy, a leading vehicle inspection service provider in the Northern Europe.

10.          Provided legal services to the Scandinavian financial group Swedbank in relation to the takeover of Danske Bank’s retail business in Latvia and Lithuania. The transaction included accounts of individuals, loans, deposits, payment cards, and securities. EUR 641 million.

11.          Assisted the owners of Proplastik in Estonia, Latvia and Lithuania with selling of their plastics distribution business to the Europe’s largest wholesaler of plastics Vink Group.

TGS Baltic Latvia office received CEE Legal Matters Deal of the Year Award for advising AS Augstsprieguma tikls on acquisition of stake in Conexus Baltic Grid from Uniper, while TGS Baltic Lithuania office received the award for advising UAB Euroapotheca on acquisition of Apoteksgruppen from Sweden http://ceelegalmatters.com/hungary/8673-a-night-of-celebration-at-cee-deal-of-the-year-awards-banquet-in-prague

 


TESTIMONIAL: TGS Baltic ensures clear, correct, credible and well substantiated advice in a timely manner. TGS Baltic team is very responsive, fast, competent and efficient. The firm has very knowledgeable and experienced specialists in corporate and M&A, employment, tax and other areas of law that proactively ensure utmost quality advice suited for our business needs. They are internationally very well connected. TGS Baltic is the best legal partner for development of your business locally and cross-borders.


TESTIMONIAL: The team of TGS Baltic has exceptional strategic thinking, exemplary knowledge and understanding of the relevant areas of law and our business: TGS Baltic is highly recommended for the largest and the most complicated cross-border and local commercial issues, M&A transactions and disputes.


TESTIMONIAL: TGS Baltic is a top-notch tax advisor in Latvia. The firm’s team consists of preeminent tax advisors and distinguished tax litigators that have very deep expertise and extensive experience. They are simply brilliant when it comes to tax advice. TGS Baltic has won a number of tax disputes thereby going straight against the statistics, according to which the tax authorities typically win. Key to their success is in-depth understanding of business, tax, and overall legal framework.