Eversheds Sutherland Bitāns to receive the 2020 CEE DEAL OF THE YEAR AWARD

 

Central and Eastern Europe’s premiere legal publication, CEE Legal Matters, has identified Eversheds Sutherland Bitāns among the winners of the 2020 Deal of the Year for Latvia for its work on Valmieras Stikla Skiedra Debt Restructuring and Sale of Majority Stake to Duke I S.a.r.l.

Winners of this year’s CEE Deals of the Year Awards were announced in the June 2021 issue of the monthly CEE Legal Matters magazine and published on the Deals of the Year Award website, here. The trophies will be handed out in person at the 2021 Deals of the Year Banquet in London on September 16, 2021.

Eversheds Sutherland Bitāns 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.

“This year’s award-winning deals are particularly significant for taking place against the backdrop of the (at the time rapidly expanding) Covid-19 pandemic, and many of them were arranged, at least in part, remotely, and with newly-created facilitating technology. Especially in these circumstances, the firms that played such critical roles in helping usher these deals to completion – including, of course, Eversheds Sutherland Bitāns for its work on the Valmieras Stikla Skiedra Debt Restructuring and Sale of Majority Stake to Duke I S.a.r.l. – deserve special recognition and credit,” said CEE Legal Matters Executive Editor David Stuckey. “The judges who chose Valmieras Stikla Skiedra Debt Restructuring and Sale of Majority Stake to Duke I S.a.r.l, as the winner for Latvia were tremendously impressed by its domestic and regional significance, its size, and its complexity. Our heart-felt congratulations go out to Eversheds Sutherland. Well done!”

Congratulations to the lead advisors in this transaction: Māris Vainovskis, Senior Partner, Aigars Gozītis, Senior Associate, Anete Marhele, Senior Associate, Vadim Chaban, Of Counsel, Laura Medne, Associate, Dmitrijs Ņemirovskis, Associate, Sabīne Vilka, Associate, Kārlis Jēkabs Īvāns, Assistant Lawyer.

Sharing the award for their work on the deal are Cobalt and Ellex Klavins.

Finalists for the peer-selected CEE Deal of the Year Awards were selected by a panel of legal experts in each country, with winners determined by a second group of experts with widely-recognized regional expertise and experience. Deals submitted for consideration were signed in the 2020 calendar year.