Assignment Name
Privatization of Lithuanian Airlines (LAL)
Location
LithuaniaDonor / Source of Funding
Government of LithuaniaBeneficiary
State Enterprise State Property Fund (Lithuania)Client
Government of LithuaniaTotal Value
Medium (EUR 100K - 800K)Consortium
- indecon (lead)
- Sorainen Law Office (member)
- Aviation Engineering office Korsak (member)
Description
indecon advised the Lithuanian Government during the privatization of the national airline, Lithuanian Airlines (LAL). The project included the assessment and the adaptation of the regulatory framework necessary for the privatization of the airline. Furthermore, indecon carried out a detailed investigation of the state enterprise and formulated respective and appropriate restructuring recommendations to the Government. Subsequently indecon organised and carried the international tender procedure.
Type of Services Provided
- Preparing a privatisation strategy for the airline and its subsidiaries addressing the implications on the international air transport market. This strategy had to be approved by the Government of Lithuania.
- Analysing the domestic and international legal framework relevant to the privatisation of a national carrier.
- Performing a legal, business and financial due diligence of the airline and all its subsidiaries and drawing recommendations regarding steps to undertake prior to launching an international tender
- Identifying potential strategic investors and drawing their attention on this investment opportunity
- Preparing the information memorandum, the investors´ information package including a draft sales and purchase agreement and a draft shareholders agreement
- Preparing, organising and running an international tender, organising the data room for investors