Europe - Estonia
2

Commercial, corporate and M&A

TGS Baltic

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TGS Baltic‘s corporate and M&A team is jointly led by Sander Kärson, Kadri Kallas and Leonid Tolstov, who is highlighted as ’strong in the field of corporate matters‘. Beyond its corporate law expertise, the group is also well versed in handling multidisciplinary matters. Among the group’s impressive client base are start-up investors and start-ups, which the group advises on various everyday corporate issues, as well as many private equity investment matters. Indrek Ergma and Karin Marosov were new arrivals in early 2024 following the firm’s merger with PwC Legal.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘We need a very versatile legal approach to our business. In this regard TGS Baltic is really outstanding, that they cover all areas we need for our business. Their team is well informed about the latest developments not only in the legal environment, but also concerning our business.’

  • ‘Leonid Tolstov is strong in the field of corporate matters. He also has an understanding knowledge of other legal areas.’

  • ‘The team is very competent in commercial, corporate and M&A. We had an urgent transaction and we got exactly the help we needed. Very good understanding of what was needed and when, so we were very calm during the process as everything was planned and taken care of.’

  • ‘Very experienced, competent, fast, and approachable team. Strong reputation from multiple references and I was very happy with their work and answers to strategic questions.’

  • ‘Sander Kärson was recommended to me and did a great job.'

  • 'Very long term cooperation, trust and always reachable.'

  • 'Seamless document management. Proactive process. Wide range of industry-specific skills.'

  • 'Indrek Ergma - outstanding legal knowledge and long-term industry experience. Always accessible, polite and keeps his deadlines. Friendly and very pleasant to work with. Always on top of things, attentive to details and thorough, quickly grasps the instructions given. Very professional and supportive. Would recommend to anyone at any time such a talented lawyer who is foremost a problem solver.'

Key clients

  • BaltCap
  • LHV Varahaldus
  • Auto-Bon, AutoHalle (Bassadone Group)
  • Estateguru
  • Merko Ehitus Eesti
  • Truffle Capital
  • Eesti Post
  • Sunly
  • Inventure VC
  • OTB Ventures
  • NFT.VC
  • Zaka Startup 2, j.s.a.
  • Better Medicine
  • Framm
  • Golden Fields Factory
  • Estiko
  • Nõo Lihatööstus
  • Doordec
  • SmartCap Green Fund
  • Siteminder
  • Green Estonia OÜ
  • Wolf Group
  • Havila OÜ
  • Estonian Red Cross
  • Gi Group
  • Torglen
  • Wolf Group
  • Vision Consulting
  • Eesti Loots
  • Estonian Business and Innovation Agency (a.k.a. EAS, Enterprise Estonia)
  • Metatellus
  • Gren Eesti AS
  • Solid World
  • NabuMinds
  • Õhtuleht
  • Hekotek

Work highlights

  • Advised Bioforce on setting up a joint venture with HKScan.
  • Advised Auto-Bon on the Estonian, Latvian and Lithuanian law aspects of the acquisition of the Opel import business in Estonia, Latvia, Lithuania and Finland from LänsiAuto.
  • Advised the shareholders of Standard on the sale of their shares to strategic investor Green Estonia.

Lawyers

Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Sander Kärson
Sander Kärson, Managing Partner and a Co-Head of the M&A practice, is involved in most of the firm’s transactional work, while his special focus is on IT and pharmaceuticals. In addition to transactional work, he often advises both local and foreign investors regarding their cross-border operations. Sander is a member of the Ministry of Justice’s corporate law audit committee that has been set up to review all legislation regulating the corporate/commercial field. Also, he co-authored the suretyship and guarantee sections’ commentaries on the General Part of the Law of Obligations Act. He teaches contract law, company law and M&A at the University of Tartu, the main legal education provider in Estonia.
Indrek Ergma
Indrek Ergma heads the Employment Practice Group in Estonia. Indrek’s main focus is on corporate restructuring and the regulation of relationships between shareholders and partners. Indrek also has extensive experience in counselling in the field of market regulations. Indrek has carried out various complex international corporate law projects. He has also participated in dozens of restructurings as an adviser, which have included both international restructurings and restructurings in Estonia. Indrek has extensive experience in the regulation of relationships between shareholders. In addition, Indrek has advised clients on share and asset-related transactions (M&A). Indrek has been an adviser in several complex corporate law disputes.
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Kadri Kallas
Kadri Kallas has extensive experience in the areas of commercial and corporate law, mergers and acquisitions, private equity and venture capital. She has advised strategic investors, private equity funds and companies included in their portfolios, as well as venture capital investors and growth companies on strategic investments, joint ventures, mergers, acquisitions and demergers, and provided general business advice. She has also worked for the London office of an international US-based law firm.

Practice head

The lawyer(s) leading their teams.

Sander Kärson, Kadri Kallas, Leonid Tolstov

Other key lawyers

Indrek Ergma, Karin Marosov

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