The first reorganisation of a listed company into a European Company in the Baltics was successful

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TGS Baltic successfully advised City Service, a holding company managing one of the largest corporate groups engaged in facility management and integrated utility services in Europe, on establishment of a European Company (Societas Europaea, SE) and admission of its shares to trading on the Warsaw Stock Exchange.

The formation of City Service SE was ended in October and the admission of its shares onto the Warsaw Stock Exchange was finished in the middle of November 2015. This establishment of SE was conducted in two stages: by a cross-border merger of City Service with its subsidiary in Estonia and conversion of the merged company into SE, followed by admission of its shares to the Warsaw Stock Exchange.

That was likely the first time in the Baltics that a listed company (on AB NASDAQ OMX Vilnius) was involved in a cross-border merger transaction. After its formation, City Service SE was listed on the Warsaw Stock Exchange and temporarily remains listed on AB NASDAQ OMX Vilnius.

TGS Baltic in this project was led by Vidmantas Drizga, Partner at the Firm, Odeta Tručinskaitė-Šiušienė, Associate Partner, and Mantas Gofmanas, Senior Associate. The Estonian team was led by Hannes Vallikivi, Partner, and Senior Associates Hannes Küün and Andres Siigur.