On 23 December 2025, the Riga municipal limited liability company “Rīgas satiksme” exercised its rights of first refusal by acquiring a 49% equity interest in SIA “Rīgas karte” from the French technology company Conduent Business Solutions France SAS.
TEGOS provided comprehensive legal support in the preparation and implementation of the transaction, including the assessment of the acquisition of decisive influence, risk analysis, refinement, negotiation and updating of transaction documentation, solution in connection with obtaining confirmation that no merger notification was required to be submitted to the competition authority, preparation of share transfer documentation and corporate registration documents for SIA “Rīgas karte”, and assistance with the signing and the relevant registrations.
The project demonstrates TEGOS’s experience and expertise in implementing complex legal transactions involving public-sector companies. SIA “Rīgas satiksme” was supported in this transaction by partner Andra Rubene, senior associates Anna Vaivade, Elīza Siliņa and Artis Kļaviņš, and associate Kristaps Dortāns.
SIA “Rīgas satiksme” is a capital company wholly owned by the Municipality of the City of Riga. It provides public transport services in the capital, operates an integrated network of tram, trolleybus and bus routes, manages the city’s paid parking facilities, and is also involved in the maintenance and development of Riga’s transport infrastructure.
SIA “Rīgas karte” was established in 2007 as a joint venture between SIA “Rīgas satiksme” (51%) and Conduent Business Solutions France (49%). The company’s primary objective was the development of an electronic payment system and the introduction of e-tickets in Riga’s public transport system. Upon achieving this objective, the functions of the electronic payment system were taken over by SIA “Rīgas satiksme”.
