Kostins Exits Altero as Management Transition Completes
Deal News | Nov 14, 2024 | CEE Legal Matters
The article discusses the exit of Arturs Kostins, the founder and sole board member of the Altero Group, from the company. TGS Baltic advised Kostins on this management transition to OM Teenused. Altero Group, a financial comparison platform significant in the Baltic region under Latvian company SIA Altero, also operates in Lithuania and Estonia. Since its inception eight years ago, Altero has grown into a prominent fintech company in the Baltic States, being the only such platform operating across these countries and facilitating several hundred million in loans. The legal advisory was provided by TGS Baltic's team, led by Partner Andra Rubene, and included Counsel Janis Bite and several Senior Associates.
Sectors
- Fintech
- Legal Advisory
Geography
- Baltic States – Altero operates across Latvia, Lithuania, and Estonia, making the Baltic States a crucial geography for the transaction.
Industry
- Fintech – Altero is a fintech company providing financial comparison services across the Baltic States.
- Legal Advisory – TGS Baltic and Ellex provided legal advisory services connected to the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Arturs Kostins | Founder and Sole Board Member (Exiting) | Person | Founder and former sole board member of the Altero Group. |
| Altero Group | Target Company | Company | Altero is a Baltic financial comparison platform operating in Latvia, Lithuania, and Estonia. |
| OM Teenused | Bidding Company | Company | Company acquiring management from Altero. |
| TGS Baltic | Legal Advisor | Company | Provided legal assistance to the founder during exit. |
| Ellex | Legal Advisor | Company | Reportedly advised OM Teenused during the transaction. |