Anna Kuusniemi-Laine

A. Ahlström – ESG advisory and corporate sustainability due diligence process planning

We advised A. Ahlström in establishing a corporate sustainability due diligence process plan which incorporates best practices and tailored solutions based on our expertise within relevant business sectors. Our comprehensive ESG offering also included tailored training for members of the investment team and management team and the board of directors of several portfolio companies. ‘The ESG team at Castrén & Snellman provided us with legal and practical advice around the ESG regulatory tsunami that we need to incorporate in our ESG work,’ comments Camilla Sågbom, Director, Sustainability and Communications, at A. Ahlström Oy. A. Ahlström is a family-owned industrial company, developing leading global specialist positions in Forest & Fiber and Environmental technology sectors.

5.9.2024

SATO – Legal design of Code of Ethics

We drafted new Codes of Ethics for SATO to use internally and with business partners. The client wanted to get concise and legally up-to-date Codes that are easy to understand and look fresh. We drafted completely new Codes, designed a clear structure for them and designed and implemented their layout. We made separate Codes of Ethics for internal use and for business partners in order to meet the exact tone and style suitable for both end user groups. We also made English translations of the Codes of Ethics. The end product was practical and interactive PDF instructions that are consistent with the client’s visual style. Client insight and taking the target group’s needs into account are some of the main principles of legal design. The client’s wishes also focused on the end users of the Code of Ethics, i.e. the company’s employees and business partners. In this project, efficient project management and an open line of communication helped us understand the wishes of the client company and deliver an end product with which the client was very happy. Active dialogue with the client was an important quality factor in this agile and iterative project. In the first phase we provided the client with a prototype and then continued the design work based on the comments we received. The appearance of the final product was designed in accordance with the client’s graphical guidelines. SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku. Approximately 45,000 residents live in SATOhomes. The project involved experts in legal design, linguistics and graphic design, and members of our Legal Tech team.

6.2.2024

Mérieux Equity Partners – Acquisition of Labquality

We acted as the legal and ESG advisor to Mérieux Equity Partners on the acquisition of a majority stake in Labquality through a leveraged buyout by its buyout fund, Mérieux Participations 4. Existing shareholders of Labquality, including Cor Group and the management, will reinvest a portion of their proceeds into the company in connection with the transaction. Headquartered in Helsinki, Finland, Labquality is a Nordic player specialized in EQA, CRO activities and regulatory affairs, with a strong local presence in Central and Eastern Europe. The company provides a comprehensive array of services for the healthcare, medical technology, and pharmaceutical industries. The company, employing over 120 professionals and supported by a network of more than 150 external experts and consultants across its offices in Finland, Germany, and Poland, serves a diverse clientele of over 8,000 customers, including major pharmaceutical companies in over 60 countries. Mérieux Equity Partners (MxEP) is an AMF-accredited management company dedicated to equity investments in the Healthcare and Nutrition sectors. MxEP actively supports entrepreneurs and companies with differentiated products and services, giving them privileged access to its sector expertise and international network. The transaction will enable Labquality to pursue its buy & build strategy in Europe to accelerate its CRO activities while continuing strong and recurring growth in the EQA segment. Labquality will benefit from MxEP’s sector expertise and financial resources to achieve its ambition of becoming a leading European CRO and EQA platform, with fully integrated regulatory consulting capabilities to serve major customers across Europe.

4.12.2023

Alko – Project to develop corporate sustainability

We assisted Alko Inc. in a project where the corporate sustainability of the listing process and product range management is improved while taking into account Alko’s monopoly position and competition law issues. The project relates to the implementation of the due diligence duty, and it covers environmental, climate and human rights aspects of the supply chain.

1.12.2023

SATO – Compliance review

We assisted SATO Corporation in a comprehensive review of the company’s compliance functions by assessing whether SATO’s internal policies, guidelines and commitments, such as the company’s code of conduct, were up to date and complied with regulations. As a result of the review, we provided suggestions for developing the compliance-related guidelines in a way that would make organisation-wide implementation of compliance matters more efficient. In addition, we suggested how the compliance functions could be developed in the short and long term and their structure simplified in order for the model to correspond better with the goals of the company’s sustainability programme and the requirements of upcoming sustainability regulation. ‘The support provided by the Castrén & Snellman experts in this review has been invaluable. We received excellent comments on how to develop and implement our guidelines and policies. It’s easy to trust the advice of these experts,’ say Katri Innanen, General Counsel, and Sini Kössi, Leading Legal Counsel, Investments, from SATO.

8.5.2023

Valio and C&S – Sustainable everyday life is created through bold reforms

Valio is a food company with the courage to change with the times. Valio’s road to growth and towards the innovative transformation of the food industry is supported by its long-standing business law partner, Castrén & Snellman. Juha Hölttä became Valio’s General Counsel at a time when the company kicked its new strategy into a higher gear. ‘In the past two years we have made several significant market initiatives and expanded our business from food production to other areas of the value chain. By acquiring Heinon Tukku, we now provide a new kind of added value to restaurants and professional kitchens through our Valio Aimo ® wholesale business. And our joint venture with St1, Suomen Lantakaasu Oy, will enable us to reach our goal of turning manure into biogas for heavy transportation,’ Hölttä describes some of the milestones of the new strategy. In addition to expanding into new business areas, Valio continues to build a more sustainable dairy business alongside seeking international growth from plant-based products. Valio has invested in the international growth of its Oddlygood ® brand through incorporation and gained additional product development expertise through the acquisition of Gold&Green. Carbon footprint of milk reduced by new business operations Dairy products are at the core of Valio’s business, and the company develops this strong foundation not only through product innovation but also at the beginning of the food chain. ‘Who could have foreseen that dairy farm manure could become one way of tackling climate challenges? Our planned biogas plants will use manure and agricultural by-products to produce renewable liquefied biogas for use as transportation fuel,’ says Hölttä. ‘Valio is aiming for a carbon-neutral milk chain by 2035. We are making major reforms in our operations in order to make this happen.’ The sustainability programme for Valio’s 3,700 dairy farms has been expanded, and it now includes the preventive and systematic healthcare of cows as well as actions related to grazing, the climate and biodiversity. ‘Appreciation for locally produced food is on the rise, which means that sustainability questions are local as well. This is a good trend, as it makes it easier for us to make a difference.’ ‘Strategic help even in difficult circumstances’ The service-mindedness of lawyers is key in implementing a growth strategy. Castrén & Snellman Attorneys is a long-standing partner of Valio, and the relationship between the two is tight. ‘At Valio, we are always exploring new business opportunities, and us lawyers are tasked with assessing these opportunities. My philosophy as the General Counsel is that my door is always open. Together we can evaluate how to solve and implement new initiatives. In this job, you must be curious, broad-minded and business-oriented,’ summarises Hölttä. Hölttä’s legal team of five people is supported by experts from Castrén & Snellman. The key to successful partnership is that both parties are familiar with each other’s business operations and ways of working. ‘Castrén & Snellman knows us well, and they maintain an up-to-date overview of our situation, which I highly appreciate. It means that we are able to tackle tricky situations together quickly even in difficult circumstances.’ A joint fast reaction was needed, for example, when Valio exited the Russian market after the country launched its war of aggression on Ukraine. ‘The responsible thing was to leave quickly but in a controlled manner and by repatriating our investment as opposed to leaving an operational food production facility in the hands of a country that was waging war.’ A shared vision of sustainability Valio – Together we make life better A Finnish food company Approx. 4,600 employees Owned by 13 Finnish dairy cooperatives Finland’s most sustainable brand in the Sustainable Brand Index study Read more about sustainability at Valio Castrén & Snellman – Building sustainable success stories Forerunner of demanding legal services 300 employees Owned by its partners ‘We help our clients build sustainable success stories and achieve their sustainability goals.’ Read more about sustainability at Castrén & Snellman Shared success stories of Valio and C&S Global Brand Portfolio Management and IP Enforcement Purchase of Gold&Green’s Brand, IPR and R&D Function Joint Venture for Biogas Production with St1 Sale of Russian Operations Acquisition of Heinon Tukku Significant Growth Funding Round Competition Damages Case Defending Against Environmental Permit Challenge at the Appellate Level

4.5.2023

3stepIT – Significant cooperation agreement between Hansel and 3stepIT

Our client 3stepIT Oy was chosen as the IT leasing services supplier for the Finnish State in a competitive tender procedure organised by Hansel Oy, a central purchasing body for the public administration in Finland. 3stepIT, a Finnish company specialised in IT lifecycle management, has signed a significant framework agreement with Hansel on leasing services. The framework agreement covers the leasing financing of IT equipment, the management of financed leasing assets, the handling of leasing assets after the lease term and other services to be ordered separately. The framework agreement between 3stepIT and Hansel allows Hansel’s clients to manage their IT assets under a proven and sustainable model for technology lifecycle management, enabling a uniform and controlled device environment. For example, the model facilitates the budgeting and cost-efficient management of ICT equipment, healthcare technology and other capital goods, making long-term acquisition planning more effective. Over 100 public administration clients have acceded the framework agreement, which will be in force for a two year term, 2023–2024, with an option to extend the agreement for another two years. The value of the agreement is EUR 200–275 million during the agreement term.

23.3.2023

The Finnish Climate Fund – Investments in growth companies – towards a carbon-neutral society

We have advised the Finnish Climate Fund as it has invested in Finnish projects that, for example, support the green transition of various industries, leading towards a carbon-neutral society. The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. The Climate Fund invests in large-scale projects in which the fund’s investment is crucial to enable the project’s realisation in the first place, on a larger scale or earlier than with funding from elsewhere. Investment in Aeromon that specialises in emissions measurement and mapping We advised the Finnish Climate Fund in its investment in Aeromon Oy. The funding will be used to further advance technology relating to software systems and measuring capacity. Aeromon’s technology enables the location and measurement of fugitive emissions generated by industrial plants and landfills almost in real time and in a mobile way by using unmanned aerial vehicles. The company has developed the measuring methods and equipment as well as the algorithms required for processing the signals. For their part, Aeromon’s solutions promote development towards zero-emission society. Investment in Joensuu Biocoal We advised the Finnish Climate Fund in its investment in Joensuu Biocoal Oy. Joensuu Biocoal will build a torrefied biomass production plant, which is the first commercial-scale production plant of its kind in Finland. The torrefied biomass produced by Joensuu Biocoal will primarily replace the use of coal in industrial processes in the cement and steel industries, which still use a lot of coal. For its part, building the plant accelerates the transition away from coal in process industries and helps reduce the carbon dioxide emissions from industry in the medium term. Investment in QHeat that specialises in geothermal heat generation We advised the Finnish Climate Fund in investment in Quantitative Heat Oy (QHeat). The funding will be principally allocated to the purchase of new, more efficient drill equipment for drilling medium-deep heat wells. Geothermal heating is part of the solution for transitioning away from the use of fossil fuels for heating as heat wells generate heat energy-efficiently and without combustion. Medium-deep heat wells can also be used for cooling real estates, in which case they can store energy to even out seasonal variations. Geothermal heat production has a great deal of potential for climate action in applications such as low-emissions heating solutions. Investment in Finn Recycling We advised the Finnish Climate Fund in its investment in Finn Recycling Oy, developer of a regeneration solution enabling the reuse of waste sand generated by metal foundries. The funding’s purpose is to accelerate the deployment of reclamation equipment and the company’s entry into the international market. The annual global consumption of sand products is 40–50 billion tonnes. Particularly foundry processes in the metal industry generate waste sand tens of millions of tonnes each year. Finn Recycling’s solution extends the service life of foundry sand, reducing the use of virgin sand and the amount of waste sand and greenhouse gas emissions generated by foundry processes.

7.2.2023

VR FleetCare – Public procurement of refurbishment of trains

Our client VR FleetCare was selected as the contractual supplier in a public procurement concerning the refurbishment of Flirt electric train bogies of Metropolitan Area Rolling Stock Ltd. We advised VR FleetCare in the competitive tender process which was conducted as a negotiated procedure in accordance with the Utilities Procurement Act (1398/2016). The Flirt trains operate as commuter trains in the Helsinki area. The object of the agreement is the periodic refurbishment and general repairs of the bogies of 81 trains according to the kilometres travelled between 2024 and 2030. The agreement also includes a four-year extension option.

24.1.2023

VR Group – Procurement of rolling stock

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.

24.1.2023

Oomi – Construction of solar parks

We are assisting Oomi in a collaboration project, in which Oomi will construct several solar parks for Oulun Seudun Sähkö. The project will add 100 megawatts to Finland’s solar power capacity. At the end of 2021, a total of approximately 395 megawatts of solar capacity were connected to the grid. The planning is already well underway. The first land acquisitions and building permits are ready and waiting for investment decisions. The investment amounts to over EUR 50 million in total. Oomi Oy provides electricity contracts, solar power systems and electric vehicle charging solutions for both consumers and business customers in Finland. The company has over 400,000 customers and approximately 50 employees.

8.12.2022

9Lives Group – Acquisition of Stella Kotipalvelut

We advised first aid and ambulance service company 9Lives Group Oy when it acquired the entire share capital of Stella Kotipalvelut Oy. The acquisition is at the heart of 9Lives’ strategy and is driven by, among other things, the SOTE reform and the megatrend of population aging. ‘Stella is one of the leading players in home care and personal care in Finland. By combining our strengths and expertise, we will have an even stronger foothold in the market as well as a more comprehensive service network, and we will be able to offer high-quality and versatile care close to the customer competitively. In addition, as a Finnish-owned and entrepreneur-driven operator, we are able to react to market changes quickly, in a customer-oriented and reliable manner’, says Markus Ulfstedt , CEO and owner of 9Lives. 9Lives is Finland’s largest private company providing first aid and ambulance services. The clients of its ambulance services are public actors and medical institutions. The company has also lately become known with COVID-19. The company’s turnover in 2020 was approximately EUR 20 million and it employs 800 people. Stella Kotipalvelut Oy is a company specialising in home care services, with a turnover of EUR 24 million in 2020. The company employs 1,600 people, of whom 520 are permanent employees.

5.1.2022

Finnish Climate Fund – Investments in Hydrogen and Circular Economy Growth Companies

We advised the Finnish Climate Fund in three separate financing arrangements in the autumn of 2021. In these arrangements, the Finnish Climate Fund invested a total of EUR 16.5 million in Finnish growth companies with solutions that have significant emissions reduction potential in the hydrogen and circular economies over the coming decades. Aurelia Turbines The Finnish Climate Fund has decided on a EUR 5 million capital loan to Aurelia Turbines Oy to speed up the deployment of more efficient industrial gas turbines. For the first time, the Climate Fund’s funding includes a sustainability incentive. Aurelia Turbines makes more efficient gas turbines for industrial needs. These gas turbines have been designed to flexibly use various degrees of hydrogen and other energy sources. Hydrogen will play an important role in the transition towards a low-carbon society. The hydrogen economy will be built on a value chain of hydrogen production, storage, transport and utilisation. Aurelia Turbines’ solution is estimated to have a cumulative emissions reduction potential of around 1.5 Mt CO2e over a ten-year period. In addition to emissions reduction, the Finnish Climate Fund’s financing will support the development of the hydrogen cluster in Finland. Betolar The Climate Fund has granted a EUR 7 million capital loan to materials technology company Betolar Oyj. The investment—the Climate Fund’s first in a digital solution—will be allocated to a marketplace with major emissions reduction potential. Cement production is one of the greatest emission sources caused by human activity, accounting for roughly 7% of global carbon dioxide emissions annually. The significant emissions reduction potential of Betolar’s solution is based on replacing virgin raw materials with existing industrial side streams, which could reduce emissions caused by the raw materials of concrete by up to 80% compared to traditional concrete products The digital platform is intended as a digital marketplace for Betolar’s solution as well as a meeting place for side stream suppliers and concrete manufacturers. This digital marketplace can enable significant emissions reductions to be realised sooner and on a larger scale. Magsort The Finnish Climate Fund granted a EUR 4.5 million capital loan to Magsort Oy’s circular economy solution to utilise steel industry side streams. Steel and concrete production are significant sources of emissions. With Magsort’s solution, almost all metal can be recovered from waste slag—and in the future the remaining slag could even be ground into cement. The more efficient utilisation of steel slag in industry not only creates considerable export potential but also major cumulative emissions reduction potential over the next decade, as much as 7.5 MtCO2e. The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. Approximately 65% of the Climate Fund’s investments relate to climate change and about 35% to climate-related digitalisation.

28.12.2021

Finnish Climate Fund – Investment in Green Hydrogen Company P2X Solutions

We advised the Finnish Climate Fund in its investment in P2X Solutions Oy, a green hydrogen and Power-to-X technology company. P2X Solutions will construct a 20 MW green hydrogen production plant, which will run on electricity produced by renewable energy and produce green hydrogen. The Finnish Climate Fund’s investment amounted to EUR 10 million. P2X will refine part of the green hydrogen further utilising Power-to-X technology. It will implement circular economy solutions and capture carbon dioxide emissions from a Finnish industrial plant. P2X will produce synthetic biofuel from the green hydrogen and caught carbon dioxide, thereby supporting the development of emission-free society. The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. Approximately 65% of the Climate Fund’s investments relate to climate change and about 35% to climate-related digitalisation. P2X is a producer of green hydrogen and forerunner of Power-to-X technology in Finland with a vision to produce green hydrogen and refine it further into synthetic fuels in a cost-effective manner.

22.12.2021

Finnish Climate Fund – Investment in Heat Storage Company Elstor

We advised the Finnish Climate Fund when it invested in Elstor Oy to speed up the rollout of their energy solution, particularly to small- and medium-sized industrial companies. Elstor’s heat storage solution can replace fossil fuels in the production of heat and steam for industrial processes and energy generation. Elstor has developed a solution that stores electricity as heat energy, which is then discharged as heat or steam as required for the customer’s processes. The company currently has two pilot units: one for heat and one for steam production. In Finland, the market potential of the solution is nearly half a million tonnes of reduced emissions, which accounts for approximately one percent of Finland’s total emissions. The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. Approximately 65% of the Climate Fund’s investments relate to climate change and about 35% to climate-related digitalisation. Elstor Oy develops and manufactures chargeable heat storage solutions for industrial heat and steam production. Elstor’s solution enables carbon-neutral, emission-free and cost-efficient generation of heat energy.

5.10.2021

Finnish Climate Fund – Investment in Solar Foods

We advised the Finnish Climate Fund in its first investment, in which it granted a EUR 10 million capital loan for Solar Foods to build a new demonstration factory in Finland. Solar Foods’ factory will be globally the first industrial scale facility to produce protein from carbon dioxide and electricity. Born out of joint research by VTT Technical Research Centre of Finland and LUT University, the innovation by Solar Foods enables low-emissions protein production utilising renewable energy. The new factory is set to be operational early 2023. The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. Approximately 65% of the Climate Fund’s investments shall relate to climate change and about 35% to climate-related digitalisation. Solar Foods produces protein using air and electricity. Solar Foods revolutionises food production with a method that is not dependent on agriculture, the weather, or the climate.

15.6.2021

Tesi and C&S – Together Towards More Sustainable Investing

Tesi expects sustainability from its investment targets. Castrén & Snellman helps Tesi achieve its sustainability goals. It is increasingly important for law firms to be able to support their clients’ sustainability work. One good example is the long-term collaboration between Tesi, or Finnish Industry Investment Ltd, and Castrén & Snellman, in which sustainability has grown in significance year by year. ‘We expect our partners to help us achieve our sustainability goals. To do that, they need expertise in and insight into sustainability issues and the developing regulatory environment’, said Heli Kerminen , a director at Tesi. Kerminen is responsible for developing the sustainability and impact of Tesi’s investment activities. Among other projects, C&S advised Tesi when it participated in Swappie’s 35-million-euro investment round last year. Swappie refurbishes and sells recycled phones. Its goal is to operate in 18 countries by 2023. Investments Totalling 250 Million Euros in 2020 Tesi is a Finnish is a state-owned investment company investing in venture capital and private equity funds and directly in growth companies. In 2020, Tesi invested a total of 250 million euros. Investments into nine private equity funds made up 82 million of that sum, and 39 million euros were invested into 20 growth companies. In addition, Tesi gave a 65-million-euro investment commitment to the KRR IV fund-of-funds, which it manages, and invested a total of 63 million euros into 24 companies through its COVID-19 stabilisation programme and Venture Bridge programme. Tesi was founded in 1995. Kerminen divides the company’s history into three stages: the first stage focused on building the Finnish venture capital and private equity market, the second on internationalisation and the third began in 2019 with a new strategy that shifted the focus onto social impact. ‘Sustainability is one of our key operating principles and an integral part of our investment and decision-making processes. We encourage companies to grow sustainably by sharing information and expertise with them’, Kerminen said. ‘We believe that Finnish companies have a key role to play in finding sustainable solutions to global challenges.’ A Circular Economy Programme to Promote Sustainable Growth Sustainability can be seen in many parts of Tesi’s operations. Based on the work Tesi has done with the Finnish Innovation Fund Sitra, Tesi created a circular economy programme, which is an investment programme focused on responsible and sustainable growth. The goal of the programme is to promote the circular economy, support the growth and internationalisation of target companies and promote impact investing. Tesi has dedicated 75 million euros to the programme. Tesi’s core mission is to support the growth and internationalisation of companies. Tesi’s mission is also to highlight and promote sustainable investing. ‘We look at the impacts that our investments have on the environment and on society. Profit is not enough for Tesi, we expect investment targets to operate sustainably and to have a positive impact on society’, Kerminen said. Tesi also encourages its portfolio companies to develop sustainable products, services and business models. ‘A great example of a sustainable business model that is going global is Swappie. Swappie sells refurbished smartphones. This reduces harmful environmental impacts by extending the lifecycle of smartphones and also provides social benefits by putting affordable phones on the market’, Kerminen said. Tesi’s and C&S’s shared journey promoting sustainable investing 2020 Establishment of Stabilisation Program for Mid-sized Companies Investment in Varjo Technologies Investment in Swappie 2019 Investment in Endev Investment in Oura Health 2018 Sale of IonPhasE to Croda International Investment in Nosto Solutions Investment in Zervant 2017 Investment in BC Platforms AG Group Co-investment in Midaxo 2016 Co-investment in OptoFidelity Co-investment in Verto Analytics 2015 Co-investment in in Rauma Marine Constructions 2014 Acquisition of Meyer Turku (formerly STX Finland)

10.2.2021

City of Pori – Assisting in a Matter Concerning Transfer of Competences and In-House Procurement in the Court of Justice of the European Union and in the Supreme Administrative Court

We successfully represented the City of Pori in a procurement case before the Supreme Administrative Court (KHO 2020:146) and in a related procedure concerning a preliminary ruling from the Court of Justice (C-328/19) that concerned the procurement of transport services for disabled people from an in-house entity of the City of Pori on the basis of a cooperation agreement in the health care area formed by Pori and its neighboring municipalities. This decision is a very important guideline concerning the nature of the cooperation agreement between municipalities under procurement rules and the forming of the position of an in-house entity in a situation where competences have been transferred to one contracting authority. The Supreme Administrative Court submitted a reference for a preliminary ruling to the Court of Justice that gave a preliminary ruling on 18 June 2020. The Court of Justice approved that municipalities can transfer powers to produce transport services for disabled people to a responsible municipality. Furthermore, the Court of Justice approved that the City of Pori can procure the transport services for disabled people in their entirety from its own in-house entity. According to the court, in-house procurement is not prevented by the fact that the municipalities that transferred their powers to Pori do not own shares in the City of Pori’s in-house entity. In addition to disabled transport services, public transport services were also purchased from the in-house entity owned by the City of Pori. A cooperation arrangement was also established between Pori and certain other municipalities for these purchases. The turnover was not considered sales to other parties than contracting entities under this agreement. This decision is important when planning cooperation arrangements between municipalities in accordance with Chapter 8 of the Local Government Act and other structural cooperation arrangements between authorities.

22.12.2020

IQM – Participation in Public Procurement for Finland’s First Quantum Computer

Our client IQM, a Finnish start-up, and VTT Technical Research Centre of Finland have entered into an agreement to establish a co-innovation partnership and begin building Finland’s first quantum computer. The overall goal of the project is to build a 50-qubit device by 2024. We advised IQM in the public procurement procedure and certain contractual issues. VTT selected IQM as its innovation partner as a result of an international public tender procedure. IQM is a European leader in building quantum computers. The cooperation will bring together expertise in quantum technologies and enable a leap in Finland’s quantum capabilities. The computer will be built in Espoo, Finland, at VTT’s and Aalto University’s joint national research infrastructure Micronova. Work will begin already during 2020. “We are proud to be part of this cooperation and excited to work with the leading experts from VTT. This project is extremely prestigious for us and will offer a great opportunity to work together in ways that help build the future of quantum technologies,” says Jan Goetz, CEO of IQM. Earlier this month, IQM announced the completion of a new successful funding round, which has brought its total funding to EUR 71 million. Quantum technologies create new opportunities for Finland “By investing in disruptive technologies like quantum computing, we invest in our future ability to solve global problems and create sustainable growth,” says VTT’s President and CEO Antti Vasara. The Finnish Government has granted the project a EUR 20.7 million funding.

18.11.2020

VR-Group – Tender for HSL Commuter Train Traffic

We represented VR Group Ltd in the first HSL commuter train traffic tender in history. VR Group won the tender and will continue HSL commuter traffic operation and train fleet maintenance until 2031. The contract value is approximately 400 million euros. The contract for commuter train traffic covers all of HSL’s traffic on the Ring Rail Line, on the Coastal Railway from Helsinki to Siuntio and on the main line all the way to Kerava. This means more than seven million train traffic kilometres and more than 70 million journeys a year. VR Group is a responsible service company operating in the field of travel, logistics and maintenance. The group employs 6,000 professionals, with annual net sales of approximately one billion euros. The group primarily operates in Finland, but it also has operations abroad, especially in Russia. VR Group is owned entirely by the Finnish state.

13.5.2020

Vapo Group – Reorganisation of Energy Division

We assisted Vapo Group in the reorganisation of Vapo’s Energy division. Vapo Group’s new company will be responsible for energy production, district heating and customer operations in Finland, Sweden and Estonia. Under the new corporate structure, Vapo will strengthen its position as a supplier of highly developed infrastructure solutions to industry and municipalities and will continued streamlining its renewable energy business.

17.9.2019

Procurement Cases – Procurement Law Services

We have helped many of our clients navigate shifting procurement legislation. We have acted on behalf of both purchasers and tenderers in negotiated proceedings, life cycle projects, service outsourcing projects, data system procurements and reorganisations of operations. We put innovative new procedures and results-based procurements into practice. Here are a few of our procurement case references.

19.4.2017

Nordea Bank Finland Plc and Pohjola Bank plc – Financing of the Tornio LNG Terminal Project

Castrén & Snellman advised Nordea Bank Finland Plc and Pohjola Bank plc in the project financing for an LNG terminal to be constructed and operated in Tornio by the Manga group of companies. The Manga group is backed by a consortium consisting of Outokumpu Oyj, SSAB Europe Oy, Skangass Oy and EPV Energia Oy. The start-up of operations of the newly built facility and the LNG and natural gas logistics chain is planned for early 2018. The cost of constructing the terminal is approximately EUR 100 million. Nordea Bank Finland Plc and Pohjola Bank plc are providing bank facilities, part of which are backed by a guarantee from Finnvera plc, the Finnish export credit agency. The Finnish Ministry of Employment and the Economy has granted an investment aid of 33.15 MEUR for the project.

10.4.2015

Meyer Werft and Finnish Industry Investment – Acquisition of Meyer Turku Oy

We acted as the buyer’s legal advisor in a transaction that involved the acquisition of 100% of the shares in Meyer Turku Oy, formerly STX Finland Oy, from STX Europe AS which is part of the group of international shipbuilding companies owned by the South Korean STX Corporation. In addition to Castrén & Snellman, numerous other professional advisors representing different fields and jurisdictions were involved in the various parts and stages of this highly complex transaction project. Meyer Turku Oy is an international shipbuilding company specialised in technologically demanding shipbuilding projects, including the M/S Oasis of the Seas and the M/S Allure of the Seas, Finland’s largest export products and the world’s largest and most innovative cruise ships. These ships were developed and designed at and delivered from the company’s Turku shipyard in 2009 and 2010, respectively. The share purchase agreement regarding the transaction was signed on 24 July 2014, and the transaction was completed on 19 September 2014 after merger clearance from the competition authorities. The successful completion of the transaction is an excellent example of the benefits that our clients gain from the combination of our long-term experience in demanding cross-border transactions and our expertise in a wide range of specialised facets of business law.

3.10.2014

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