Porta Finance and Rothschild advise Government of Latvia on acquisition of ITERA’s stake in Conexus Baltic Grid

28 December, 2017

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.

Further information:
Mikus Janvars
Partner, Porta Finance
Tel: +371 6733 6730