TARK Legal

Author: Tark

  • TARK nõustas Mezzanine Managementi 23,3 miljoni eurose investeeringu tegemisel Mogosse

    2015

    TARK nõustas Kesk- ja Ida-Euroopa turule keskenduvat sõltumatut investeerimisnõustajat Mezzanine Management 23,3 miljoni eurose investeeringu tegemisel, et toetada Mogo Finance’i (Mogo) tegevuse laiendamist. Mogo on Balti riikides ja Gruusias tegutsev kontsern, mis pakub sõiduki tagatisel laenu ja sõiduki liisimise teenust.

    Tehingut rahastati Mezzanine Managementi kolmanda investeerimisfondi Accession Mezzanine Capital III kaudu. Fondi taga seisavad teiste hulgas sellised mainekad institutsionaalsed investorid nagu Euroopa Rekonstruktsiooni- ja Arengupank ning Euroopa Investeerimisfond.

    Investeering on mõeldud Mogo tegevuse arendamiseks teistes Kesk- ja Ida-Euroopa riikides. Mogo on hetkel Baltikumi turu liider, omades üle 38 miljoni eurost laenuportfelli, kuhu kuulub 20 000 autot, ning andes tööd üle 200 inimesele. Kontsern tegutseb praegu Lätis, Leedus, Eestis ja Gruusias ning kavatseb koostöös Mezzanine Managementiga laiendada tegevust ka teistesse riikidesse.

    TARK nõustas klienti kogu protsessi käigus, koostas kõik vajalikud tehingudokumendid ning nõustas regulatsiooniga seotud küsimustes.

    Mezzanine Management on Accession Mezzanine Capitali fondide, mille kogumaht on üle poole miljardi euro, ainus investeerimisnõustaja. Äriühing on oma Viini, Varssavi, Bukaresti ja Kiievi büroo kaudu Kesk- ja Ida-Euroopas tegutsenud alates 2001. aastast.

  • TARK nõustas tuuleparkide ostmist Eestis ja Leedus, tehingu maht 28 miljonit eurot

    2016

    TARK nõustas kontserni Lietuvos Energija (Leedu Energia) kahe Leedus ja Eestis tuuleparke omava ettevõtte – Eurakras ja Tuuleenergia – omandamisel. Kahe omandamistehingu koguväärtus oli 28 miljonit eurot ja tegemist oli Leedu riigile kuuluva energiakontserni esimese investeeringuga välismaale.

    Tuuleparkide koguvõimsus on 42,3 megavatti (MW) ja nad toodavad aastas 136 000 megavatt-tundi (MWh) elektrienergiat, mis katab Klaipeda linna kodumajapidamiste aastase elektrivajaduse.
    Leedu ettevõttele Eurakras kuulub kaheksa tuulikut koguvõimsusega 24 MW Jurbarkase rajoonis Geišiai ja Rotuliai II külas. Lietuvos Energija omandas 75% ettevõtte aktsiatest UAB Renagrolt ja investeerimisühingult BaltCap. Pargi jaoks tootis tuulikud Saksa ettevõte Nordex. Iga tuuliku installeeritud võimsus on 3 MW, mast on 120 m kõrge ja rootori läbimõõt on 117 m. Tuulepark on täiesti uus: ehituse valmimise tõend ja elektritootmise luba väljastati 2015. aasta detsembri lõpus.

    Eesti ettevõttele Tuuleenergia kuulub kuus tuulikut koguvõimsusega 18,3 MW Eestis Mälis ja Tambas. Lietuvos Energija omandas investeerimisühingult BaltCap ja vähemusaktsionäridelt kõik ettevõtte aktsiad. Kõik kuus tuulikut tootis Saksa ettevõte Enercon. Iga tuuliku installeeritud võimsus on 3 MW, mast on 99 m kõrge ja rootori läbimõõt on 101 m. Tuulepark valmis 2015. aasta veebruaris.

    Lietuvos Energija on riigile kuuluv kontsern, mis on Balti riikides üks suurimaid. Kontserni põhitegevus hõlmab elektri ja soojuse jaotamist ja tarnimist, maagaasiga kauplemist ja maagaasi jaotamist ning elektrijaamade ja elektrivõrgu ehitust ja hooldamist. Lietuvos Energija kontserni aktsionäri õigusi ja kohustusi teostab Leedu Vabariigi rahandusministeerium.
    TARK osutas kogu protsessi vältel kõik vajalikud õigusteenused, osales projekti elluviimiseks vajalike tehingudokumentide koostamisel ja oli abiks tehingute üle läbirääkimiste pidamisel.

  • TARK successfully liquidated SNORAS Bank Estonian branch

    2016

    TARK advised AB Bank SNORAS in closing bank`s local business in Estonia and in finalizing the liquidation proceeding of AB Bank SNORAS Estonian branch.

    AB Bank SNORAS Estonian branch was founded in 2008. The Estonian branch liquidation proceeding was initiated in 2011 due to the bankruptcy of AB Bank SNORAS. Deletion of AB Bank SNORAS Estonian branch from the Commercial Register of Estonia was executed in the end of August, 2016.

    AB Bank SNORAS, founded in 1992 in Lithuania, was a commercial bank that operated in all three Baltic States. It was a member of the financial group Konversbank and was listed on the NASDAQ OMX Vilnius stock exchange. On November 16, 2011, 100% of the bank shares were nationalized by the Lithuanian government and the bank was placed into temporary administration. On November 24, the bank was declared bankrupt.

    TARK´s experts involved in the liquidation process were partner Allar Aru and senior associate Tanel Küün.

  • TARK advised Estonian Government on the sale of AS Andmevara

    2016

    TARK has successfully advised Estonian Ministry of the Interior on the sale of 100% shares of AS Andmevara to IT investment company INVL Technology. TARK transaction team together with the financial advisor Redgate Capital assisted Estonian Ministry of the Interior in compiling the deal structure, preparing and conducting the public privatisation auction and negotiating and closing the share purchase agreement. TARK´s experts involved in the project were partner Hannes Küün and senior associate Tanel Küün.

    The purchase price for 100% shares, including cash and liabilities of Andmevara, was EUR 654.6 thousand. Enterprise value of AS Andmevara offered by INVL Technology amounted to EUR 231 thousand. Prior to privatization the Estonian state also received EUR 1.25 million in dividends and related taxes.

    AS Andmevara is a complex IT solutions and services provider to public sector organisations with expertise in e-Government solutions that include development of registries, important national information systems and software, digitisation, database development and hosting services. The Company was formed in 1997 based on a former governmental organisation Riigiarvutuskeskus, the history of which dates back to 1970. AS Andmevara actively contributes to implementation of Estonian E-Government project, offers several ready-made software products to municipal and governmental institutions, and mostly serves Estonian public sector organisations.

    Publicly listed INVL Technology operates as a cluster of B2B and B2G-oriented IT businesses with a focus in four key areas: business climate improvement and e-governance, IT infrastructure, cyber security and IT intensive industries‘ solutions. The largest INVL Technology investments currently are companies in Lithuania, Norway, Tanzania, Uganda and Rwanda.

  • TARK advised IK Investment Partners on the acquisition of NeTel Group AB from Axcel

    2016

    IK VII Fund reached agreement to acquire NeTel Group AB (Netel) from Axcel. Netel is a leading infranet service provider to telecom operators, utilities and municipalities in Nordic and Baltic region. Financial terms of the transaction are not disclosed, and completion of the transaction is subject to legal and regulatory approvals.

    NeTel Group AB was founded in 2000 and has grown to become a leading Nordic infranet service provider to telecom operators, utilities and municipalities. With presence in Sweden, Norway, Finland and the Baltics and around 340 employees, NeTel Group AB generated pro forma revenues of approximately MSEK 1,500 in 2015.

    IK Investment Partners (IK) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well positioned businesses with excellent long-term prospects

    TARK in cooperation with Swedish law firm Mannheimer Swartling assisted IK in carrying out of legal due diligence on Netel´s Estonian business and advised the transaction on certain Estonian law aspects. TARK´s experts involved in the project were partner Marit Savi and senior associate Tanel Küün.

  • TARK advised Gategroup on the acquisition of Inflight Service Group

    2016

    On December 2015 Gategroup reached an agreement to acquire 100% ownership in Inflight Service Group from funds advised by Triton, a private equity company in the Nordic region, at an enterprise value of SEK 1.1 billion. The transaction is subject to the approval of the Polish antitrust authorities, with closing expected in February 2016.

    Founded in 1991, Inflight Service is the leading operator in the Nordic travel retail market, with strong presence in Eastern Europe and emerging presence in other European markets. Inflight Service is headquartered in Kista, Sweden. The company is a leading travel retail specialist with revenues in excess of SEK 2 billion primarily focused on airline retailing, ferry retailing and the operation of airport shops alongside a small presence in wholesale and retail services.

    Gategroup is the leading independent global provider of products, services and solutions related to a passenger’s on-board experience.
    Gategroup was advised by TARK in co-operation with Swedish law firm Mannheimer Swartling.

  • TARK has successfully represented GFC Good Finance Company AS

    2016

    TARK has successfully represented payment institution GFC Good Finance Company AS before the Estonian Financial Supervision Authority in the proceedings for application of the cross-border payment services provision in Republic of Poland. As from 29 February 2016, GFC Good Finance Company AS can render payment services including issuance the payment cards in the territory of Poland.

  • The first reorganisation of a listed company into a European Company in the Baltics was successful

    2015

    TARK successfully advised City Service, a holding company managing one of the largest corporate groups engaged in facility management and integrated utility services in Europe, on establishment of a European Company (Societas Europaea, SE) and admission of its shares to trading on the Warsaw Stock Exchange.

    The formation of City Service SE was ended in October and the admission of its shares onto the Warsaw Stock Exchange was finished in the middle of November 2015. This establishment of SE was conducted in two stages: by a cross-border merger of City Service with its subsidiary in Estonia and conversion of the merged company into SE, followed by admission of its shares to the Warsaw Stock Exchange.

    That was likely the first time in the Baltics that a listed company (on AB NASDAQ OMX Vilnius) was involved in a cross-border merger transaction. After its formation, City Service SE was listed on the Warsaw Stock Exchange and temporarily remains listed on AB NASDAQ OMX Vilnius.

  • TARK advised Austrian investors on buying agricultural businesses

    2015

    Vaklak OÜ, a holding company managed by the Austrian businessman Wolfgang Leitner and owned by a group of Austrian investors, acquired agricultural businesses AS Peetri Põld ja Piim, OÜ Tammsaare and OÜ Nordwinter. Vaklak already owns a number of dairy and crop farming companies in Estonia. The principal area of activity of Peetri Põld ja Piim and OÜ Tammsaare is also dairy farming, including milk production and sale, sale of animals, and sale of grains and rape.

    The sales revenue of Peetri Põld ja Piim was 3.2 million euros and that of OÜ Tammsaare was 1.4 million euros in 2014. Vaklak earned a profit of 1.4 million euros last year.