Insight into the Real Estate M&A in Latvia by VILGERTS Real Estate team.

Have an insight on the Latvian real estate market, including recent market activity, legal framework and most commonly used deal structures, and also general insight into tax considerations in the latest edition of the Real Estate M&A and Private Equity Review, a chapter on Latvia contributed by VILGERTS lawyers Gints Vilgerts and Linda Berzina. To sum it up, the Latvian real estate market is a traditional market with standard transactions, and in recent years, market activity has been stable with some globally recognised investors entering the market for the first time. Because of high real estate transfer tax, most high-value transactions are engineered as sales of shares after an in-kind investment of the real estate into the share capital of the target company. Read the chapter about Latvia here.

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Related Experience

Successful representation of BAO in disputes for collection of insurance indemnity against Compensa Vienna Insurance Group and BTA Baltic Insurance Company.

Advising BAO AS, a leading Latvian waste management company, with its filing of an appeal to the Procurement Monitoring Bureau regarding the results of a high-profile tender.

Advising East Capital Real Estate Fund IV on the various legal aspects of its EUR 83,000,000 (approximate) acquisition of 100% of the shares in Deglava Real Estate SIA (a subsidiary of ICA Gruppen (Sweden)), which owns a modern 94,000 square meters logistical and office center in Riga.  The transaction is one of the largest and most significant real estate transactions to occur in Latvia during 2023.

Representing VW dealers in several follow-on antitrust damages litigations.