Latest Assignments

Seven Bombardier CRJ900-type aircraft owned by Transpordi Varahaldus OÜ (TVH) are now fully financed by LHV Bank, while Estonia’s national airline Nordica continues as their lessee. Government-owned TVH refinanced its previously issued bonds with a 23 million euro loan from an Estonian LHV Bank. TRINITI attorneys Ergo Blumfeldt, Ain Kalme, Tõnis Tamme ja Sten Veidebaum were advising TVH in drafting the legal documentation of the transaction and related negotiations, necessary changes in the civil aircraft registry, amendment of the existing aircraft lease agreements as well as in other legal documentation. Read moreIn 2017 and 2018, TVH issued bonds for a total of 35 million euros which were purchased in equal parts by LHV Pension Funds and LHV Pank. TVH used the financing to purchase additional CRJ900-type aircraft and lease them to Nordic Aviation Group AS (Nordica). The outstanding amount of the bonds was now refinanced with a bank loan obtained from LHV Bank. Indrek Nuume, Head of Business Banking at LHV Pank, said that the local bank and the local aircraft owner were a perfect match. “Our cooperation with TVH has been long-standing, successful and reliable. We’re glad to be involved in their investment plans. As LHV Pension Funds are always on a lookout for new investment opportunities with a higher rate of return, we agreed on new suitable bank financing terms with TVH. We can see that the sector is recovering well and wish all the success to Estonian aviation,” Nuume added. According to TVH the two past years have been exceedingly complicated for aviation but due to reliable and long-standing cooperation with the lessee and the financiers alike, the assetco has weathered the crisis well, managing to keep its current commercial activities profitable.

TechX Technologies Inc. (OTC: TECXF) entered into a share purchase agreement to acquire a 100% interest in Mobilum OÜ for C$16,000,000. TRINITI’s team consisting of Ergo Blumfeldt, Ain Kalme, Sten Veidebaum and Peeter Mõtsküla advised TechX Technologies Inc. in Estonian local law matters for the share purchase agreement and in conducting a legal due diligence. Read moreTechX Technologies Inc. is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Mobilum, a financial technology start-up that provides the fiat infrastructure to the cryptocurrency industry, is a licensed plug-and-play fiat-to-crypto gateway and payment processing technology solution for exchanges, wallets, brokers, liquidity providers, and cryptocurrency businesses. Its on-ramp and off-ramp solution enables integration for businesses with users who buy and sell cryptocurrencies with credit and debit cards. TRINITI is a Pan-Baltic law firm specializing in business law.

The Estonian national airline Nordic Aviation Group (Nordica) and the Polish national carrier Polskie Linie Lotnicze LOT S.A (LOT) reached an agreement to end their joint venture in Regional Jet OÜ (Xfly). Nordica purchased LOT’s 49% share in Xfly, a leading European ACMI-services provider, after which Nordica became its sole shareholder. TRINITI transport & infrastructure legal team – partner Tõnis Tamme and senior associate Ain Kalme, advised Nordica in the contract negotiations and assisted with the closing of the transaction.

A Finnish family-owned Fincumet Group Oy purchased the majority share of Birger OÜ (https://birger.ee/), the largest manufacturer of hooklift containers and steel structures in Northern Europe. TRINITI transactions team: Tõnis Tamme, Ain Kalme and Mikk Põld advised the sellers in the contract negotiations, legal preparation of the transaction and closing of the share transfer. Read moreBirger OÜ is based in Avinurme, Estonia and employs a workforce of ca 200. Birger manufactures hooklift containers for the entire Nordic region and in 2019 the company’s revenue reached 18 million euros. Aleksei Männiste will continue as the CEO and will own 40% of Birger through a holding company.

TRINITI advised Lemonade Stand, new Estonian pre-seed & seed stage investment firm in one of its first investments. Lemonade Stand lead a round of 600 000 eur into ProcurementFlow, cloud-based software company for fully digitized procurement workflow. The other investors included Pipedrive co-founder Martin Henk, and Bolt co-founder Martin Villig, AdCash founder Thomas Padovani, Bellone Invest, Stagnation Lab, Katana MRP co-founder Kristjan Vilosius, Skeleton Technologies founders Taavi Madiberk and Oliver Ahlberg. TRINITI team consisting of Ergo Blumfeldt, Ain Kalme and Maarja Lehemets assisted the client in carrying out due diligence of the company and negotiating the financing documentation.

TRINITI provides the security agent’s service to the investors of the Alexela Tanklad OÜ bonds. The bond securities provided by the issuer are held in the interests of the investors by TRINITI’s 100% subsidiary company

LOT Polish Airlines acquired 49% of the share capital of Regional Jet Ltd, until now entirely owned by the Estonian national carrier AS Nordic Aviation Group which operates under the NORDICA brand. TRINITI legal team advised Nordica in the share sales and shareholder agreements negotiation, merger control procedures and closing of the transaction.