6.6.2017

Sponda – Advice Concerning EUR 1.76 Billion Recommended Cash Tender Offer for all shares in Sponda

Related services

We are representing Helsinki-listed Sponda Plc in connection with the public tender offer of Polar Bidco S.à r.l., a corporation owned by funds advised by affiliates of The Blackstone Group L.P., to purchase all issued and outstanding shares in Sponda. In the tender offer, Sponda shareholders will be offered a cash consideration of EUR 5.19 for each share in Sponda representing an aggregate equity purchase price of approximately EUR 1,763 million for Sponda shares. The board of directors of Sponda has unanimously decided to recommend the shareholders of Sponda to accept the tender offer for their shares. The Sponda – Blackstone deal is the largest ever real estate transaction in Finland measured by the market value of the properties.

President and CEO of Sponda, Kari Inkinen, believes that with the support of Blackstone, Sponda will further develop their business, properties and portfolio. According to Inkinen, Sponda will continue to offer high-quality business premises and working environments to their customers.

Our team

Latest references

G&W Electric – Acquisition of Safegrid

We advised G&W Electric with its acquisition of Safegrid Oy, a leading provider of intelligent grid monitoring solutions based in Finland. The acquisition accelerates G&W Electric’s long-term strategy to integrate intelligent monitoring and predictive analytics into its power distribution portfolio, strengthening its offering to utility customers worldwide. Founded in 1905 and headquartered in Bolingbrook, Illinois, G&W Electric is a global leader in innovative power grid solutions, with a presence in over 100 countries. The company is known for advanced load and fault interrupting switches, reclosers, sensors, system protection equipment, power grid automation, intelligent grid monitoring, and transmission and distribution cable accessories. Safegrid is a Finnish technology company headquartered in Espoo, Finland. The company develops the Intelligent Grid System®, a grid monitoring solution that combines instant-on wireless sensors with advanced analytics to deliver real-time insight into grid conditions, enabling utilities to identify emerging issues, anticipate failures, and reduce outage duration across medium and high voltage distribution and transmission networks.

Kiwa – Acquisition of Sertio

We advised Kiwa in its acquisition of Sertio Oy, a Finnish notified body designated by the authority in accordance with the EU Regulation on in vitro diagnostic medical devices (IVDR). Sertio provides conformity assessment services in accordance with IVDR. Kiwa is one of the world’s leading testing, inspection, and certification companies, operating in over 35 countries.

Metsäkonepalvelu – Acquisition of Junnonen Forest and the business operations of Lamerit

We advised Metsäkonepalvelu Oy in its acquisition of the entire share capital of Junnonen Forest Oy, a Finnish timber harvesting services company, and the timber harvesting services business of Lamerit Oy. The acquisition supports Metsäkonepalvelu’s growth strategy and strengthens the company’s position, particularly in southeastern Finland. Metsäkonepalvelu is a portfolio company of A. Ahlström Oy, a Finnish family-owned industrial owner. The company provides mechanical timber harvesting services to forest companies, large private forest owners, and the public sector in Finland and Sweden. Metsäkonepalvelu Group employs nearly two hundred forestry professionals.

Scanreco – Acquisition of CrossControl

We acted as Finnish counsel to Scanreco in its acquisition of CrossControl. Mannheimer Swartling (Sweden) acted as lead counsel for Scanreco. CrossControl, founded in Sweden, is a high-tech supplier of advanced display computers and central vehicle computing solutions for industrial vehicles and machines. Scanreco is a world leading supplier of professional radio remote control systems to international machinery, heavy equipment, and crane manufacturers. The combined group comprises approximately 600 employees and generates annual revenue of around SEK 1.4 billion.

Search from the site.