Marguerite sells its stake in Latvijas Gāze

The Luxembourg-based investment fund Marguerite closed the sale of its 28.97% stake in AS Latvijas Gāze, the Latvian natural gas trading and sales company, to Energy Investments SIA, a holding vehicle backed by the management team of Latvijas Gāze. The exit comes after successful divestments from the regulated assets of Latvijas Gāze.

Nicolás Merigó, CEO of Marguerite, commented: “We are pleased to have supported Latvijas Gāze in the last seven years and played a part in the development and unbundling of infrastructure assets which are critical for the security of gas supply in the region. This divestment reaffirms our strategy of actively managing high-quality infrastructure assets to deliver attractive returns to our investors”.

According to Latvijas Gāze, the management buy-out process will enable Latvijas Gāze to not only maintain its position as one of the Baltic energy leaders but also lead the way in innovative products and services based on the major international market trends.

COBALT provided legal advice to Marguerite throughout the entire sales transaction, with Partner Guntars Zīle and Senior Associate Mārtiņš Tarlaps, leading the team.

Marguerite is a pan-European investor in long-life greenfield and brownfield expansion infrastructure.

COBALT provided legal support to Marguerite throughout all stages of the investment project starting from acquisition of stake in Latvijas Gāze in 2016, and including representation of Marguerite in subsequent reorganisation processes of Latvijas Gāze, as well as in other matters related to Marguerite’s shareholding in Latvijas Gāze.