Porta Finance together with its cooperation partner Rothschild acted as exclusive financialadvisers to the Latvian Ministry of Economics (“MoE”) in connection with the acquisition of 16.05% shares in Latvian natural gas transmission and storage system operator, JSC Conexus Baltic Grid (“Conexus”) from ITERA Latvija SIA (“Itera”).
Transaction with Itera is a continuation of the effort by the Government of Latvia to acquire control in recently unbundled gas transmission and storage system operator JSC Conexus Baltic Grid (“Conexus”) through fully Government-owned Latvian electricity transmission operator JSC Augstsprieguma tīkls (“AST”). Following the acquisition of Itera’s stake the shareholding of AST in Conexus has increased to 34.36%.
Porta Finance together with Rothschild advised the Government of Latvia on all of the aspects of the transaction, including designing the buy-side process, coordinating due diligence, preparing valuation analysis, assessing strategic and tactical alternatives and negotiating transaction documentation.
Partner, Porta Finance
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