30.6.2020

Never Miss a Crisis

As we approach the summer holidays here in Finland, nature is at its most beautiful, and it is easy for one’s thoughts to turn to the lighter and more pleasant sides of life. The reality, however, is that we are still living in a time of crisis, albeit one that has come to a crossroads—at least in Finland. As we begin a gradual return to normal, the temptation to go back to old ways of doing things is strong, but we need to ask ourselves what we can learn from this crisis. When at a crossroads, it is important to pick a road that leads somewhere better.

During the crisis this spring, organisations transformed themselves into virtual workplaces with astonishing speed. It quickly became clear that working as an expert is not tied to time or place. Nevertheless, I still believe that a unified team draws its strength from human encounters and a sense of community. Human interaction is the glue that keeps an organisation together and on its feet.

From the perspective of leadership, the crisis has clarified decision making by putting priorities into sharp relief. When the view forward is foggy, you have no choice but to focus on fundamentals and push aside the unnecessary. You have to communicate often, clearly and openly–to tell the truth, even when it is unpleasant. You also have to have the courage to say you don’t have the answers and that the future is uncertain. These principles are certainly applicable at any time.

We spend much of our lives at work, which is why it is so important to develop work sustainably. This is one area that the pandemic could help point the way to something better. Commercial law is a hectic business, and working as a business lawyer can at times be very intense. At Castrén & Snellman, we have put a great deal of time and effort into helping our ambitious employees make their day-to-day lives as balanced as possible, even when they find themselves having to juggle work with family life. I believe that the crisis will help us find many good solutions as we move forward.

The personal and economic price of the pandemic is huge. When rebuilding our society and economy, it is important that we don’t just repair old structures but renew them. We need to work towards a more sustainable, environmentally friendly and responsible future. Let’s make sure that the cost of this crisis is not wasted, but that we use it in a way that will enable us to meet the next crisis stronger than ever.

Latest references

We acted as Finnish law legal adviser to the lenders and the export credit agencies in connection with the EUR 514.4 million green project financing for the development and construction of Easpring Finland New Materials Oy’s cathode active material (CAM) manufacturing plant in Kotka, Finland. The borrower, Easpring Finland New Materials Oy, is a joint venture owned by Beijing Easpring Material Technology, Finnish Minerals Group and LG Energy Solution. The financing was provided by six international commercial banks, with Société Générale acting as financial adviser and mandated lead arranger together with Natixis as co-mandated lead arranger, and DNB, ICBC, ING and Standard Chartered participating as lenders, with support from the export credit agencies Finnvera and Sinosure. The project represents a significant milestone for Finland and the European battery value chain by strengthening Europe’s domestic supply of cathode active materials, a key component in lithium-ion batteries for electric vehicles and energy storage applications. Once the first phase of the project is operational, the Kotka facility is expected to produce approximately 60,000 tonnes of cathode active material annually, making it one of the largest CAM production plants in Europe and supplying leading battery manufacturers across Europe. 
Case published 21.7.2026
We acted as Finnish legal advisor to Delta Capacity in connection with its acquisition of the ready-to-build Karppio battery energy storage system (BESS) project from Helios Nordic Energy. The acquisition was made and the project will be implemented together with Strioga Family Foundation. The Karppio BESS project is located in Teuva, Finland, and has a capacity of 125 MW / 300 MWh. Delta Capacity will lead the remaining development of the project through to commissioning, planned for 2027, and will serve as long-term asset manager. Delta Capacity is a Swiss-based developer of utility scale battery storage systems. The acquisition adds to Delta Capacity’s growing Nordic portfolio. 
Case published 20.7.2026
We advised Swedbank AB (publ) on the refinancing of a large Finnish retail real estate portfolio owned by Trophi’s Finnish subsidiaries. Trophi is the leading Nordic real estate company focusing on grocery anchored retail properties, with 278 properties across Sweden and Finland. Finland is a market that continues to develop and is also strategically important for Trophi, accounting for approximately 30% of Trophi’s letting and property value.
Case published 17.7.2026
We are acting as Finnish legal advisor to HANZA in connection with its acquisition of Fortaco Finland’s heavy mechanics and assembly business. The transaction is structured as a combined asset and share acquisition and includes Fortaco Finland’s heavy mechanics and assembly operations in Finland, as well as shares in two Estonian and two Polish subsidiaries. The transaction is expected to close during the fourth quarter of 2026, subject to customary closing conditions, including regulatory approvals. Founded in 2008, HANZA is a Swedish mechanical engineering and electronics contract manufacturing company listed on the Nasdaq Stockholm main list. HANZA has approximately 5,000 employees and annual sales of SEK 10 billion. We advise HANZA on this transaction in collaboration with the Swedish law firm Lindahl.
Case published 15.7.2026