We advised Bank Norwegian AS, an internet bank offering consumer banking services across the Nordic countries, in establishing its cross-border service offering in Finland. Our expertise on local regulatory aspects was required in relation to offering savings accounts, loans and credit cards as well as with respect to various consumer protection and other regulatory matters. Bank Norwegian is 20% owned by Norwegian Air Shuttle ASA, which operates one of the largest low-cost airline carriers in Europe.
30.9.2016
Bank Norwegian – Advice on Providing Cross-Border Services

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Merger of Oomi and Lumme Energia
We are acting as the joint legal advisor to Oomi Oy and Lumme Energia Oy in a transaction whereby Lumme Energia will merge with Oomi. As from the completion of the merger, the combined entity will be the largest electricity retail and service company in the Finnish market. In 2024, Oomi reported a turnover of EUR 373.9 million and had approximately 110 employees. Lumme Energia’s turnover for the same year was approximately EUR 314.6 million and it had approximately 50 employees. The transaction is primarily driven by the recent developments in the electricity market and the strategic goal to develop competitive products and services. Another key objective is to further enhance the customer experience, which is a shared value between the two companies. As a result of the merger, Lumme Energia’s customers will transfer to Oomi, and Lumme Energia will become one of Oomi’s shareholders. The completion of the transaction is subject to an approval by the Finnish Competition and Consumer Authority.
Case published 29.8.2025

Funders – EUR 665 million refinancing arrangement for Nevel
We acted as the Finnish legal counsel for the funders to Nevel Oy in a EUR 665 million refinancing arrangement through a mix of multicurrency bank loans and private placement notes. Nevel is a utility infrastructure company offering advanced industrial and real estate infrastructure solutions that are fit-for-purpose and future-proof. The transaction supports Nevel’s growth strategy and its goal to help customers to achieve climate goals.
Case published 20.8.2025

WithSecure – Diana BidCo’s public tender offer on WithSecure
We are acting as the legal advisor to WithSecure Corporation in Diana BidCo Oy’s voluntary public cash tender offer for all the issued and outstanding shares in WithSecure. The tender offer values WithSecure’s total equity at approximately EUR 299 million. Diana BidCo is a private limited company incorporated and existing under the laws of Finland that will be indirectly owned by a consortium formed for purposes of the tender offer by certain affiliated funds of CVC Capital Partners Plc and Risto Siilasmaa. The consortium believes that the partnership strengthens and accelerates the road to WithSecure’s long-standing goal of becoming Europe’s most trusted cybersecurity partner by positioning the company to lead the next era of business cybersecurity. WithSecure’s shares are listed on the official list of Nasdaq Helsinki. WithSecure is a Europe-based cybersecurity company that helps protect businesses and is committed to strong partnerships with customers and collaborators. WithSecure’s customers trust WithSecure with outcome-based cybersecurity that protects and enables their operations. The completion of the tender offer is subject to the satisfaction or waiver by the offeror of certain customary conditions on or prior to the offeror’s announcement of the final results of the tender offer. The tender offer is currently expected to be completed during the fourth quarter of 2025. The Takeover Board of the Securities Markets Association issued on 4 August 2025 a new recommendation (1/2025) on good securities market practice that deals with the target company’s board of directors’ obligations in case of a consortium offer in which a major shareholder of the company participates in the consortium.
Case published 8.8.2025

Aker Arctic Technology – Acquisition of Bluetech Finland
We advised Aker Arctic Technology Inc, a company specialised in icebreaker design, in its acquisition of Bluetech Finland Ltd. Under the signed agreement, Aker Arctic and Bluetech transferred to the ownership of Arctic Marine Technology Group Oy, an entity established for the purpose of owning the companies. Arctic Marine Technology Group is owned by Finnish Industry Investment (Tesi) and ABB, the current shareholders of Aker Arctic. The completion of the transaction required the approval of the Finnish Ministry of Economic Affairs and Employment and the fulfilment of other customary closing conditions. Aker Arctic Technology Inc is a private company specialising in the technology development, design, engineering, special products, consulting and testing services for ice-going vessels and icebreakers. Bluetech Finland Ltd specialises in cruise, ro-pax and cargo ship design, offering engineering services for ship owners, shipyards and marine suppliers.
Case published 26.6.2025