Riga Plaza transaction Shortlisted for the 2020 CEE Deals of the Year Awards

VILGERTS is proud to announce, on March 4, 2021 the Riga Plaza Shopping Mall transaction (in which VILGERTS acted for the buyer) is shortlisted for the 2020 CEE Deals of the Year Awards.

In December 2020, Summus Capital OU and Ivar Vendelin acquired Riga Plaza Shopping Mall from LSREF3 Latvia Investments S.a r.l.  Both Sorainen and Cobalt also advised on the transaction.

For more details surrounding the transaction, please see here.

The other two shortlisted deals which occurred in Latvia during 2020 include, the recapitalization of airBaltic and Valmieras Stikla Skiedra Debt Restructuring and Sale of Majority Stake to Duke I S.a.r.l.

The 2020 CEE Deals of the Year Awards is the most prestigious and sought-after peer-selected awards for the legal industry in Central and Eastern Europe.

The CEE Deals of the Year Awards were created in 2017 by CEE Legal Matters, the leading source of news and information about the lawyers and legal industry in Central and Eastern Europe, to celebrate the transactions, financings, IPOs, and other deals that underpin growth throughout the reason — and the lawyers and law firms who make them happen.  Five jurors are selected by CEE Legal Matters for each of the 24 jurisdictions in the region based on their reputation, expertise, knowledge, and established commitment to their markets.

The finalists for CEE Deals of the Year are listed in the March 2021 issue of the CEE Legal Matters magazine, and the winners will be announced at the annual CEE Deals of the Year Banquet, scheduled for London on June 3, 2021.  More information about the awards and the banquet can be found at doty.ceelegalmatters.com.

by Charles Clarke, Expert Counsel, Latvia

Team

Related Experience

VILGERTS assisted Summus Capital OÜ with the issue of unsecured bonds in the amount of EUR 10 million, arranged by Signet bank.  Summus Capital OÜ, established in 2013, is an Estonian-based investment company which has diversified commercial real estate portfolio in the Baltics. The group possesses a portfolio of cashflow generating commercial real estate properties in the retail, office, logistics and medical segments. The VILGERTS team included managing partner, Gints Vilgerts and senior associate, Kristīne Mora.  Other lawyers involved, included Kaido Loor.

Sale of shopping mall “Riga Plaza” to Summus Capital OU and Ivar Vendelin by LSREF3 Latvia Investments S.à r.l. where Vilgerts acted for the buyers.

Assistance to BPM Capital with exit from financing of DEAC and Smiltenes piens with mezzanine loans.

Provision of legal assistance and representing property development company that focuses its operations in Riga in court proceedings and arbitration proceedings concerning non-performance of contractual obligations by a bank and liability thereof.