Sorainen has advised the Riga Energy Agency on the development of a concept and business model for the Riga Energy Efficiency Fund.

TGS Baltic has advised Vilnius-headquartered renewable energy company Green Genius on its acquisition of a 100-megawatt solar PV project in Latvia.

Sorainen has advised Tietoevry on its lease agreement with developer Capitalica for office space in the Verde office center in Riga's Skanste district.

Cobalt has advised Lightrock and Haniel on leading a USD 30 million investment round into Aerones. 

Cobalt, working with Clifford Chance, has advised joint lead managers Deutsche Bank, Citigroup Global Markets Europe, Erste Group, and Nomura Financial Products Europe on the EUR 750 million issuance of five-year eurobonds by the Republic of Latvia. Allen & Overy reportedly advised the Treasury of the Republic of Latvia.

Ellex has helped Merito Partners set up and launch its Merito Management AIFP alternative investment fund structure in Latvia.

Adon Legal has advised Lithuanian real estate developer Galio Group on receiving financing from Latvia's SEB Banka to complete the development of the Riga-based Gustavs Business Center.

Ellex has advised AS CleanR Group on its completed acquisition of SIA RSC Noma. Sole practitioner Nauris Durevskis advised the sellers.

Much like in other countries in the region, Latvia experienced a strong finish to 2022, with bustling M&A activity being driven primarily by the current geopolitical and economic developments, according to Vilgerts Partner Julija Jerneva.

TGS Baltic has advised Sweden's Bethoc on its acquisition of Sport Revolution from JLSR and Xstunda. Sole practitioners Ilze Lejina and Reinis Sokolovs reportedly advised the sellers.

Cobalt has advised Samsung C&T on its investment and business collaboration with Latvian industrial manufacturer Forta Pro.

Cobalt has advised the European Investment Bank on granting a EUR 39 million loan to plywood manufacturer Latvijas Finieris Group.

Following Russia’s war in Ukraine, Latvia has adopted preventive legislation in the name of its national security and interests. In particular, in May and September 2022, the Latvian Parliament adopted amendments to the law aimed at strengthening its information space. Thus, it is no longer allowed to retransmit programs whose jurisdiction undermines or threatens the territorial integrity, sovereignty, or national independence of another country.

Cobalt, working with DLA Piper, has advised the HKScan corporation on the sale of its Baltic subsidiaries to the Maag Grupp. Ellex advised the buyer.

Sorainen has advised PR and communications firm Rud Pedersen Group on its acquisition of the Meta Advisory Group.

A strong end to 2022, embodied by high levels of real estate transactions and M&A work – despite a legislative downturn and no government – is the buzz in Latvia, according to BDO Law Managing Partner Vita Liberte.

Cobalt has advised the BaltCap Private Equity Fund III – acting through its subsidiary Adoro – on acquiring the assets of Dzives Abece.

Sorainen has provided pro bono legal advice to the Entrepreneurs for Peace foundation on repairing all the explosion-damaged windows at the Ukrainian Society of the Deaf educational and manufacturing company in Chernihiv and preparing the building for the winter.