22 January, 2018

Skrastiņš & Dzenis advises Vienna Insurance Group on the acquisition of Seesam Insurance AS Latvian branch

Vienna Insurance Group will buy 100% shares of non-life insurance company Seesam Insurance AS (including its Latvian and Lithuanian branches) from Finnish OP Financial Group. The share sale and purchase agreement was signed on 18 December 2017 and the transaction, however, is subject to the approvals of local regulatory authorities.

Vienna Insurance Group is one of the largest international insurance groups in Central and Eastern Europe. The group operates around 50 insurance companies in 25 countries, has around 25,000 employees and its shares been listed on Vienna Stock Exchange and Prague Stock Exchange.

Skrastiņš & Dzenis team, led by partners Aivis Dzenis and Verners Skrastiņš and included associates Evija Ābele and Dace Kitnere, advised VIG in all major steps of the transaction – performed full legal due diligence, advised on drafting the share and purchase agreement, as well as, in drafting merger clearance notification to Latvian Competition Council.

The whole project was led by Estonian law office TARK and its Baltic partners – Skrastiņš & Dzenis in Latvia and Motieka & Audzevicius in Lithuania.

Key contact Aivis Dzenis

GDPR Compliance and AML
Corporate and M&A
Banking and Finance
Fintech

Experts

Verners Skrastiņš

Dace Kitnere

Experience

Successfully defended a client against a dishonest council member in corporate proceedings

Skrastiņš and Dzenis successfully defended the interests of the client, a joint stock company, in the civil proceedings against a Member of the Council of the company who had dishonestly used his rights.

OPTIBET acquires a gambling operator known by trade mark “Klondaika”

Skrastiņš & Dzenis team advised OPTIBET on the recent acquisition of FURORS, a company operating in the gambling business under the brand name “Klondaika”.

Advised AS “Moda Kapitāls” on sale of loan portfolio

Skrastiņš & Dzenis acted as legal adviser to AS “Moda Kapitāls”, owner of one of the largest Latvia’s pawnshop network, on the sale of AS “Moda Kapitāls” loan portfolio of consumer credits against movable collateral, brand name and goods in its stock that are not movable collateral to AS “DelfinGroup”.

Represented a client and reached a settlement in a corporate dispute

Skrastiņš & Dzenis dispute resolution team successfully represented the client in a corporate dispute started in 2004.

Advised a client on acquisition of aggregation of property

Skrastiņš & Dzenis acted as legal adviser to the client on acquisition of industrial real estate and movable property from the AS “Trasta komercbanka” in liquidation.

We advised client on acquiring sole ownership of a Latvian retail company

We are pleased to announce that Skrastiņš & Dzenis acted as a legal adviser to a retail company in a capital share acquisition project.

SIA “DLV” and SIA “Bliks” merger finalized

“Skrastins & Dzenis” team has helped to finalize the merging process of SIA "DLV" and SIA "Bliks", by merging the companies in the form of acquisition.

Founders of DLV regain full control over their company

The team of Skrastiņš&Dzenis has successfully represented its client’s DLV interests and provided legal assistance in a dispute between shareholders of the firm, helping the founders of DLV regain full control over the company.

Skrastiņš & Dzenis advises client on the acquisition of e-commerce business in the Baltics

Subject to the completion of the transaction Kesko Senukai will buy one of the largest Latvian e-commerce businesses – 1A and become one of the leading e-commerce companies in the Baltics operating online in all three Baltic states.

Skrastiņš & Dzenis has successfully represented travel agency “Kolumbs” and its majority shareholder in a shareholders’ dispute

Skrastiņš & Dzenis team has successfully represented travel agency “Kolumbs”, a well-known and the largest tour operator and travel agency in Latvia, and its majority shareholder in a shareholders’ dispute among majority and minority shareholders.

Skrastiņš & Dzenis” advised MyFitness on opening 3 new fitness clubs in Riga

Skrastiņš & Dzenis team advised MyFitness, the biggest fitness clubs chain in Baltic States, on opening 3 new fitness clubs in Riga, which formerly were operated under Atletika brand name.

A project for energy performance contracting (EnPC) in Latvia for public sector facilities in cooperation with European Bank for Reconstruction and Development has come to a close

Skrastiņš & Dzenis team, headed by senior partner Verners Skrastiņš and including attorney-at-law Andra Bērzkalne, has taken part in a project aimed to the energy performance contracting (EnPC) in Latvia regarding public buildings and street lighting projects.

Skrastiņš & Dzenis team has successfully represented its client in complex settlement negotiations followed by the conclusion of settlement with AS “Prisma Latvia”

Skrastiņš & Dzenis senior partner, attorney-at-law Verners Skrastiņš engaged in and represented our client in complex negotiations with AS "Prisma Latvia".

Partner of law office Skrastiņš & Dzenis has successfully conducted redress proceeding of a “Vef Radiotehnika RRR”

Vigo Krastiņš, partner of law office Skrastiņš & Dzenis, has successfully conducted redress proceeding of a well-known Latvian company “VEF Radiotehnika RRR”.

A complex real estate acquisition transaction has come to a close

A complex real estate acquisition transaction where Skrastiņš & Dzenis attorneys-at-law assisted the client in purchasing parts of a real estate in joint ownership has come to a close.

Skrastiņš & Dzenis has successfully represented SIA VJN Kapitāls in a shareholders’ dispute

Skrastiņš & Dzenis has successfully represented SIA VJN Kapitāls in a shareholders’ dispute emerged more than a decade ago.

Valuable factory’s purchase transaction

Partners, attorney's at law of our law office have successfully represented a well known Latvian company's interests in acquisition of a fully functional construction materials factory.

A complex and lengthy real estate acquisition transaction has come to a close

A complex and lengthy real estate acquisition transaction with two of the partners - Verners Skrastiņš and Vigo Krastiņš were providing legal assistance to the client (on the sell side) has come to a close.

Skrastiņš & Dzenis assisted an investor in a damages dispute with the seller of AS Liepājas metalurgs

Skrastiņš & Dzenis assisted an investor which purchased AS Liepājas metalurgs in order for it to continue production, in a dispute with AS Liepājas metalurgs seller regarding the acquired company and its assets both due to the quality and quantity of those assets.

Skrastiņš & Dzenis represented clients in a valuable M&A transaction

Verners Skrastins and Vigo Krastins, partners of law office Skrastiņš & Dzenis, have successfully represented two Latvian legal entities in a valuable Mergers and Acquisitions transaction.