We advised VR-Group Plc in the procurement of rolling stock for commuter train service which was conducted as a negotiated procedure in accordance with the Utilities Procurement Act (1398/2016). VR Group selected Stadler as the contractual supplier to deliver 20 SmX train units. The procurement also includes the options to order 50 more trains as well as maintenance services for the trains. The new commuter trains are 50% more energy-efficient than the existing rolling stock. The value of the rolling stock procurement is approximately EUR 250 million, excluding the options. The new trains will begin operating in the spring of 2026.
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Fortum – Sale of recycling and waste business
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
Andritz – Acquisition of Procemex
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
OP Finland Infrastructure – Investment in Cactos Fleet Finland
We acted as the legal advisor to OP Finland Infrastructure LP in its investment in Cactos Fleet Finland Ky. Cactos Fleet Finland invests in smart electricity storage systems in Finland. OP Finland Infrastructure is a fund investing in Finnish infrastructure. The fund is managed by OP Financial Group. Cactos Fleet Finland primarily invests in electricity storage systems installed in real estate properties. In addition to their grid-related tasks, these systems can level out peaks in the property’s electricity consumption and provide back-up power.
Case published 29.4.2024
OP Finland Infrastructure – EUR 45 million investment in ESL Shipping
We acted as legal advisor to OP Finland Infrastructure LP in its investment in ESL Shipping Ltd, a Finnish shipping company. Varma Mutual Pension Insurance Company co-invested in the company. The investment was made against new shares in ESL Shipping, and the EUR 45 million co-investment corresponds to a 21.43 % holding in the company. The aim of the investment is to accelerate ESL Shipping’s green transition. ESL Shipping Ltd is a Finnish shipping company. Its main shareholder is Aspo Plc. OP Finland Infrastructure is a fund investing in Finnish infrastructure. The fund is managed by OP Financial Group. Varma Mutual Pension Insurance Company is a Finnish pension insurance company. In September 2023 the value of its investment portfolio amounted to EUR 57.5 billion.
Case published 26.4.2024