4.4.2022

Fortum – Assisting the Recycling & Waste Division in Legal Issues in Autumn 2021

We assisted Fortum Corporation’s Recycling & Waste Division in legal issues in the autumn of 2021.

We participated extensively in drafting and commenting agreements and advised in other legal issues relating to waste and recycling services and R&D functions.

Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. Fortum also provides services for the power generation industry and solutions for consumers so that they can be smarter in their energy choices. Fortum’s share is listed on Nasdaq Helsinki.

Latest references

We are acting as the lead counsel to Fortum in a cross-border transaction in which Fortum is selling its recycling and waste business. The business is sold to thematic impact investing firm Summa Equity through its portfolio company NG Group. The debt-free purchase price is approximately EUR 800 million. The transaction is subject to authority approval and customary closing conditions. Fortum’s recycling and waste business to be sold comprises municipal and industrial waste management and end-to-end plastics, metals, ash, slag and hazardous waste treatment and recycling services. These businesses are located in Finland, Sweden, Denmark and Norway and currently employ approximately 900 employees.
Case published 18.7.2024
We advised Andritz Oy, a part of ANDRITZ group, with their acquisition of all the shares in Procemex Oy. The acquisition further strengthens ANDRITZ’s automation and digitalisation portfolio. Procemex is a global leader in integrated web monitoring and web inspection solutions for the pulp and paper industry. It has a team of more than 100 vision systems experts and has subsidiaries in Germany, Japan and the US. ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. ANDRITZ is a global market leader in all four of its business areas – Pulp & Paper, Metals, Hydropower and Environment & Energy. The publicly listed group has around 30,000 employees and over 280 locations in more than 80 countries.
Case published 18.7.2024
We successfully acted as the lead external counsel for Citycon Plc in an arrangement whereby Citycon outsourced its Nordic Accounting and Lease Administration operations and related workforce in Finland, Sweden, Norway, Denmark and Estonia to Staria Plc. The outsourcing is expected to take place as of 1 August 2024. With this outsourcing arrangement, Citycon aims to align the size and capabilities of the company’s finance organisation with its future development, ensuring it can adapt to meet the company’s needs at any given time. During the assignment, we assisted Citycon in drafting the necessary contract documentation and planning the contract negotiations and timetable. We led the outsourcing agreement negotiations and advised Citycon on employee transfer and data privacy related matters. We also coordinated legal advice for other in-scope countries. Citycon is the leading owner and developer of urban hubs in the Nordics and Baltics. Citycon’s 33 mixed-use, necessity-based centres are located in the major cities in Finland, Sweden, Norway, Denmark and Estonia. Citycon transforms unique locations into sustainable communities and cities full of life, serving 140 million people each year and delivering long-term share value. Citycon brings value to communities by developing urban hubs for living, working, socialising and shopping. Citycon has extensive experience as an urban developer and uses its expertise in creating mixed-use centres that include retail, offices, hotels, housing, food & beverage as well as healthcare, culture and leisure services.
Case published 13.5.2024
We acted as Zendesk, Inc.’s Finnish legal counsel in its acquisition of Ultimate Enterprises Oy, an industry leading provider of service automation using AI technology. The cross-border acquisition was completed in cooperation with the transaction’s lead counsel Allen & Overy. Zendesk is a leading global technology company that provides software-as-a-service and customer experience (CX) products based in the US. The acquisition of Ultimate expands Zendesk’s AI-powered CX offerings.
Case published 26.3.2024