23.10.2020

European Insurance Group – Acquisition of Extensive Forest Property Portfolio

We represented a company belonging in an European insurance group in the acquisition of an extensive portfolio of forest properties from United Bankers’ UB Nordic Forest Fund I. In the transaction, all partnership interests in the limited partnership fund were acquired for a total price of approximately EUR 73 million. In addition to forest properties, the purchaser obtained an existing forest management infrastructure. The transaction stems from the insurance group’s desire to grow the share of forest properties in its investment allocation.

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Castrén & Snellman is acting as the legal advisor to the City of Pori in its sale of a 49% stake in Pori Energia to Polhem Infra. Pori Energia, a multi-utility company, operates in various sectors including district heating, electricity distribution, and electricity generation through CHP and renewable sources. The company also provides wind power services and industrial energy solutions in the Satakunta region. This strategic partnership between the City of Pori and Polhem Infra aims to enhance Pori Energia’s financial stability and investment capabilities, enabling the company to further its efforts in the energy transition and continue delivering high-quality energy services to its customers. Polhem Infra, owned by Swedish state pension funds, focuses on investments in critical infrastructure, including renewable electricity generation, energy storage, energy distribution, digital infrastructure, and transport infrastructure. The transaction values Pori Energia at EUR 905 million. 
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