Mergermarket has chosen Castrén & Snellman as the M&A Legal Adviser of the Year 2017 in Finland. This has been yet another strong year for our M&A team with – among many other highlights – three landmark deals that paved the way for this award.
15.12.2017
Mergermarket Awards Castrén & Snellman’s Expertise in Complex M&A Work
We advised Ilmarinen Mutual Pension Insurance Company in the merger with Etera Mutual Pension Insurance Company, which is recognised as one of the most significant and complex transactions on the Finnish market this year.
We were also the only law firm to be involved in both public takeovers on the Finnish market, advising Comptel in the takeover by Nokia and Sponda in the takeover by Blackstone, which was the largest ever real estate transaction in Finland.
–All three deals are great examples of the combined transaction and specialty expertise often required in demanding mergers and acquisitions. The Ilmarinen-Etera merger was carried out in an extremely complex regulatory landscape. Nokia introduced new developments to the Finnish market by announcing its bid unconditional before securing the 90% ownership threshold for a squeeze-out process, Partner and Head of M&A Jan Örndahl says.
The Mergermarket European Awards winners are chosen by an independent panel of judges from a wide variety of industry backgrounds. The judges analyse Mergermarket deal data and look for evidence that firms added value to deal processes, supported clients and offered creative solutions to complex situations.
–We are thrilled to receive this award and recognition. There has been a remarkable upswing in M&A activity in Western Europe, and our M&A team has had the privilege of working on the most complex deals this year. Currently, we are leading Mergermarket’s comparison tables for Finland in both the volume and the value of deals, Managing Partner Sakari Lukinmaa cheers.
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Lenders and Export Credit Agencies – EUR 514.4 million green project financing for Easpring Finland New Materials’ CAM plant
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
Delta Capacity – Acquisition of BESS Project
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
Swedbank – Refinancing of Trophi’s Finnish retail real estate portfolio
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
HANZA – Acquisition of Fortaco Finland’s heavy mechanics and assembly business
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