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Robert GullaGeneral CounselLukoil International (Austria)
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Of Swedish and Lithuanian origin, Glimstedt benefits from its reputation in the wider region, securing clients looking for international experience. Locally, it is regarded as a solid mid market firm.
DealsGlimstedt has a broad client base comprising domestic and foreign clients. One example of work for the latter saw corporate practice head Darya Zhuk lead a team representing an international company in its acquisition of a local business for $8 million.
The firm also secured mandates for several domestic clients. In one deal Zhuk is acting for a client in the energy sector on the construction of landfill gas power stations in several regions in Belarus. In another deal, the firm is advising an animal breeding company on establishing livestock facilities in Belarus which are expected to cost in the region of €3.6 million.
Glimstedt make it into the rankings this year after securing a number of impressive mandates advising leading banks. A rival peer from a tier one firm says: "We are starting to see Glimstedt making more of an impact on the Estonian market." With Marko Saag as department head, the regional firm is bolstered by an extensive though independent network spanning Sweden, the Baltic States and Belarus.
The firm has been active this year advising on various bankruptcy and litigation matters for the likes of DnB NORD and Danske Bank.
Peers say Glimstedt's growing presence in the Latvian market is deserving of recognition. "They work hard and well and have been slowly carving a space. They are a good firm and work on some really good cases. In fact some of the best cases" This year, head of the department Peteris Dalderis advised on an impressive government restructuring.
Since June 2012, a team led by department head Peteris Dalderis has been advising the Ministry of Transport on a €100 million refinancing and protection against insolvency in relation to a minority shareholder dispute in Air Baltic Corporation (airBaltic).
In capital markets partners Eriks Blumbergs and Inita Jurka instructed the Treasury on a $500 million Eurobond issue which successfully closed in June 2011.
Whilst in capital markets-related work Raivis Leimanis advised a major shareholder of Olainfarm on a minority sell-off of the company, one of the only such transactions on the Riga Stock Exchange during 2011.
Merger clearance pending, the firm are also advising a private Russian shareholder on the acquisition of Valmieras Piens milk production company.
Bernotas & Dominas Glimstedt
Bernotas & Dominas Glimstedt retains its tier two position despite a number of suggestions that their activity levels have continued to drop year on year. Client feedback however remains positive in terms of quality of advice and the firm has been involved in a rare corporate restructuring this year. Gediminas Dominas is praised by one client as having " a commercial approach, accessibility, and good personal relations with clients."
Another client says: "With Bernotas & Dominas Glimstedt law firm our company works more than 10 years [because] this law firm has a strong commercial approach and pure legal skills."
Remigijus Jakutis was one of the firm's most active partners last year in M&A, with highlights including advice to UAB Kalnapilio Tauro on the acquisition of local brewery Vilkmergės alus. In addition Jakutis also advised LitCapital venture capital fund I on its first two investments in the country.
Another deal saw Gediminas Dominas act for the Litagra group on the sale of a 37% stake to a new strategic investor Invalda.
Elsewhere, in restructuring matters, Jakutis acted for Garsu pasaulis on the company's capital restructuring.
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