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Eversheds Sutherland Bitāns advised VALMIERAS STIKLA ŠĶIEDRA, AS

  • Latvia


    Our team advised one of the leading glass fibre manufacturers in Europe and one of the largest manufacturers in Latvia VALMIERAS STIKLA ŠĶIEDRA, AS on matters related to its refinancing and restructuring proceedings as well as majority share sale transaction. The deal involved five jurisdictions and financial restructuring of assets worth more than USD 104 million.

    The sale of VALMIERAS STIKLA ŠĶIEDRA, AS majority share to a new investor was complexly structured and provided that closing of deal was dependent on several conditions precedent. Therefore, our team provided a comprehensive assistance in several aspects of the deal that made it unique and significant at the same time.

    • Our team represented VALMIERAS STIKLA ŠĶIEDRA, AS in both debt refinancing and issuance of additional funding for VALMIERAS STIKLA ŠĶIEDRA, AS operations. A syndicate loan issued by SEB banka and Danske Bank was refinanced.
    • Our team represented VALMIERAS STIKLA ŠĶIEDRA, AS on its restructuring proceedings that were commenced on 2019 when VALMIERAS STIKLA ŠĶIEDRA, AS went into the legal protection proceedings (“LPP”) for the purpose of renewing the ability of a debtor to settle its debt obligations.
    • Furthermore, our team advised VALMIERAS STIKLA ŠĶIEDRA, AS in relation to its obligations as listed company on the Secondary List of the Nasdaq Stock Exchange’s Baltic Regulated market towards both the Nasdaq Stock Exchange and Latvian Financial and Capital Markets Commission throughout the deal.

    Consequently this, and the complexity of the deal makes this one of the biggest restructuring deals in Latvia this year.

    Our team has acted as the lead counself to VALMIERAS STIKLA ŠĶIEDRA, AS throughout the whole process since 2019. The lead advisors in this transaction were Māris Vainovskis, Senior Partner, Aigars Gozītis, Senior Associate, Anete Marhele, Senior Associate, Vadims Čabans, Of Counsel, Laura Medne, Associate, Dmitrijs Ņemirovskis, Associate, Sabīne Vilka, Associate, Kārlis Jēkabs Īvāns, Assistant Lawyer.

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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