There has been a remarkable and rather unexpected upswing in M&A activity in Western Europe this year. The Finnish deal market was no exception and we saw some very unique takeovers and mergers during the first half of the year, as such as Blackstone’s acquisition of Sponda, Nokia’s takeover of Comptel, the merger of the pension insurance companies Ilmarinen and Etera and the combination of the two construction giants YIT and Lemminkäinen.
23.8.2017
Mergermarket: Strong H1 2017 for Our M&A Service and Jan Örndahl
Carola Lindholm & Jan Örndahl
When looking back at the work done and the league tables published by Mergermarket, our team excelled. Mergermarket ranked Castrén & Snellman first in terms of deal count among Finnish law firms, having handled 14 deals during H1 2017. Measured by deal value, we placed second, having handled an aggregate deal value of more than USD 4,4 billion during H1 2017. In particular, we are proud of our partner and Head of Team Jan Örndahl, who took third place in the Nordics individual legal advisers ranking by handling a remarkable eight deals already during H1 2017.
Source: Mergermarket league tables, Global and regional M&A: H1 2017, page 25.
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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