Advising shareholders of AS Interbaltija AG on buy out of a minority shareholder (SIA Wine Holding) and subsequent sale of 100% shares of AS Interbaltija AG to Amber Beverage Group

05 / 17

TGS Baltic M&A team provided full scope legal assistance to the majority shareholders of AS Interbaltija AG (Laimonis Kravalis and Daiga Grigale) in relation to acquisition of the shares of the company from a minority shareholder SIA Wine Holding thereby acquiring 100% stake in the company.

After buy out of the minority, TGS Baltic assisted the shareholders of AS Interbaltija AG with sale of 100% of the company to a competitor Amber Beverages Group.

It is planned that AS Interbaltija AG will carry on with its operations as an independent company under the leadership of its current CEO Laimonis Kravalis. AS Interbaltija AG will continue to focus on the development of premium brands in the HoReCa segment, using Amber Beverages Group’s support and expertise in logistics, IT and legal solutions.

Due to concentration in the beverages wholesale markets the transaction was subject to clearance of the Latvian Competition Council that evaluated that the transaction will concern fourteen wholesale markets, such as beer, cider, sparkling wine, Champagne, traditional grape wine, fortified wine, mulled wine, vodka, whiskey, brandy, cognac and Armagnac, rum, tequila and liqueur.

The Latvian Competition Councils merger clearance decision (in Latvian):

During 2016 AS Interbaltija AG turnover was EUR 6.83 and the company employed 34 employees.

Web page of the target company:

Amber Beverages Group is a majority shareholder of Latvijas Balzams (leading producer of alcohol beverages in the Baltics since 1900), Amber Distribution Latvia and Bravo (beverages retail chain).

Amber Beverage Group was established on October 2014 as the result of consolidation of SPI Group companies in the Baltics.

Web page of the acquirer:

On the same topic:

The provided assistance included structuring of the transaction and drafting of the transaction documents, negotiating and closing of the transaction, registration of securities and transfer of shares.

TGS Baltic team was led by Partner Inese Hazenfusa and supported by Associates Rūdolfs Vilsons and Jekaterina Anohina.