Hanna Salokangas

Senior Associate, Member of the Finnish Bar

Services

  1. Corporate Governance
  2. Mergers & Acquisitions
  3. Compliance & Risk
  4. ESG and Corporate Sustainability

Contact details

I assist our clients in assignments related to corporate law, for example, in corporate governance and directors’ liability issues as well as mergers and acquisitions.

I also assist in matters relating to compliance, risk management and corporate responsibility. My field of expertise includes various investigations and measures related to the identification of clients and business partners, sanctions as well as the prevention of bribery and fraud.

My Bachelor of Laws is bilingual. In addition, I have also studied law at the University of Hong Kong.

Latest references

Multitude – Relocation from Finland to Switzerland
We act as the lead legal counsel in the groundbreaking case of Multitude SE’s (Multitude) proposed relocation from Finland to Switzerland. The first phase of the relocation, involving the transfer of Multitude’s registered office from Finland to Malta pursuant to SE Regulation, was successfully completed on 30 June 2024. In this connection, Multitude’s shares were removed from the Finnish book-entry system and the issuer central securities depository of the shares changed from Euroclear Finland Oy to the CSD operated by the Malta Stock Exchange. In practice, all of Multitude’s shares are now held through Clearstream. In Malta, the company is anticipated to be converted into a public limited liability company under Maltese law, following which it will seek redomiciliation from Malta to Switzerland. Given that Finnish legislation does not allow for direct relocation to a non-European Economic Area country such as Switzerland while preserving the company’s legal personality, the process necessitated a multi-jurisdictional strategy as outlined above. Our mandate encompasses advising Multitude on all aspects governed by Finnish law concerning the proposed relocation and coordinating the work of local legal counsel and various other advisors involved in the project. The process also involved a written procedure to amend Multitude’s existing subordinated capital notes and senior bonds to facilitate the relocation as well as placement of EUR 80 million senior guaranteed notes by a newly established Multitude Capital Oyj. ”The transfer to Malta marks a significant step in Multitude’s journey. This pioneering and complex process has been successfully implemented with the invaluable support of our own team and advisors. Castrén & Snellman has masterfully orchestrated the entire project, ensuring seamless coordination across multiple jurisdictions. We look forward to achieving our next step with the further relocation to Switzerland”, says Jorma Jokela, Multitude’s CEO. Multitude is a fully regulated growth platform for financial technology, employing over 700 individuals across 25 countries. Its shares are listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.
Case published 1.7.2024
Oomi – Partial demerger
We advised Oomi Oy in a partial demerger where Oomi’s solar power business for corporate customers demerged and formed a new independent company, Oomi Solar Oy. As part of the partial demerger process, we assisted Oomi in pre-emptive discussions with the tax authorities where the tax treatment of the restructuring was confirmed. Oomi Solar, the demerged company, focuses on implementing solar power plants for real estate properties, ground-level solar power plants and industrial solar power parks and supports companies and entities in their transition towards renewable energy. Oomi Solar started operations on 1 January 2024.
Case published 12.2.2024
Finnish Listed Companies – General Meeting Arrangements
In this past general meeting season, we have advised and assisted numerous Finnish companies listed on the official list of the Helsinki Stock Exchange and the First North growth market in arranging their annual general meetings. Our partners have served as chairpersons of annual general meetings, and the experts of our Corporate Governance service have participated in the preparations for and as secretaries of the general meetings and have also supervised the counting of votes and scrutinised the minutes of general meetings held under the temporary act enacted in response to the pandemic. Our task has been to ensure that the general meeting runs smoothly and in accordance with applicable regulation. In the spring of 2021, we particularly advised our clients in organising remote meetings. We also advised unlisted companies. We have supported our clients in their general meeting arrangements for many years.
Case published 29.11.2021
Multitude SE – Conversion into an SE and Relocation of Registered Office from Finland to Germany
We advised Multitude SE (formerly Ferratum Oyj) in a conversion from a Finnish public limited liability company into an SE company earlier this year and we are advising Multitude SE in relocation of its registered office from Finland to Germany. Multitude’s board resolved to approve a transfer proposal on 9 July 2021. The relocation will be carried out in accordance with the Finnish Act on European Company and the SE Regulation. Multitude’s new registered office will be seated in Hamburg and the relocation will take effect at the end of 2021. The final decision on the relocation is subject to approval by the general meeting of Multitude’s shareholders. Multitude is an international provider of mobile banking and digital consumer and small business loans, distributed and managed by mobile devices. Founded in 2005 and headquartered in Helsinki, Finland, Multitude has expanded to operate in 19 countries across Europe, South and North America, Australia and Asia. Multitude SE is listed on the Prime Standard of Frankfurt Stock Exchange.
Case published 24.8.2021
Smart Windpower, Mincovest and GE Energy – Development and Sale of Puskakorpi Wind Farm Project
We advised the co-developers Smart Windpower Oy, Mincovest Oy and GE Energy, LLC in the development of the Puskakorpi wind farm owned by the project company Puskakorven Tuulivoima Oy and its later sale to Foresight Energy Infrastructure Partners, a Luxembourg Special Limited Partnership for which Foresight Group LLP acts as Portfolio Manager. The Puskakorpi wind farm is envisaged to comprise 16 WTGs with a designed total nominal capacity of 88.0 MW. Located in the municipality of Pyhäjoki, in the Northern Ostrobothnia region of western Finland, the wind farm will generate enough renewable energy to power the equivalent of 55,000 households in Finland. It will play a significant role in supporting the country’s goal of meeting 50% of its energy end-consumption from renewable energy sources by 2030. Commercial operations of the wind farm are expected to commence in late 2022.
Case published 2.6.2021
Founders – Establishment of a Foundation for the Conservation of the Paimio Sanatorium Designed by Alvar and Aino Aalto
We advised the Hospital District of Southwest Finland and other founders in a pro bono assignment to establish a foundation dedicated to the development and conservation of the Paimio Sanatorium designed by Alvar and Aino Aalto. The foundation will conserve the internationally renowned architecture and significant cultural capital of the properties of the tuberculosis sanatorium. The task of the foundation is to preserve the complex formed by the buildings and furnishings. ‘Castrén & Snellman’s wide expertise and excellent service were of great help to us throughout the project from start to finish. In the course of establishing the foundation, we came across issues that we had not fully anticipated, but with Castrén & Snellman’s experts we were able to find feasible solutions‘, said  Heikki Aalto-Alanen , member of the board of directors of the foundation. ‘We truly appreciate that they chose to support us pro bono and make their expertise available to this project. The conservation of the Paimio Sanatorium is a project of exceptional importance even on an international scale ’,  Aalto-Alanen continues. Plans are for the sanatorium to host, amongst other things, a variety of cultural events in the future. The foundation was established by the Hospital District of Southwest Finland, the State of Finland, the Alvar Aalto Foundation and the cities of Paimio and Turku. The former owner of the sanatorium, the Hospital District of Southwest Finland, transferred the sanatorium properties, including all buildings and furnishings, to the foundation. The establishment of the foundation is the result of an inquiry into the future of Paimio Sanatorium launched by the Ministry of Education and Culture and the Ministry of the Environment in 2019.
Case published 8.1.2021
Aberdeen Standard Investment, DIF and Local Pensions Partnership – Acquisition of Elenia Lämpö
We advised a consortium formed by Aberdeen Standard Investments, DIF and Local Pensions Partnership in a transaction whereby the consortium is purchasing the entire share capital of Elenia Lämpö. The seller is Elenia Oy, the parent company of the Elenia Group, which will focus on improving electricity distribution security and developing an intelligent electricity system and customer services for its customers. Elenia Lämpö Oy produces district heating and distributes district heating in Häme, Central Finland, Northern Ostrobothnia and Heinola.
Case published 1.7.2019
UFF – Change from Association into Foundation
We assisted the association U-landshjälp från Folk till Folk i Finland rf in a reorganisation of its activities. The association, which is to be dissolved, established a foundation to continue the association’s operations. The transformation of the association into a foundation ensures that the association can continue its activities without altering its original purpose and sustainably support climate work and global development in the future. In the reorganisation, the association transferred its assets and liabilities and operations to the newly established foundation in their entirety. The association’s personnel also transferred to the foundation as existing employees. In the final stage of the reorganisation, the association will be dissolved. U-landshjälp från Folk till Folk i Finland sr will continue to be known by its familiar acronym UFF in the future. The former association will continue to promote the public good as a foundation by maintaining a recycling service in Finland and supporting development work in Africa and India. Through the recycling of clothes, UFF aims to bring about sustainable development that reduces extreme poverty in the world. UFF supports education, food security and income-earning opportunities in Africa and India. It also brings Finns into contact with sustainable development and the affairs of the developing world. In addition to the collection of clothes and donations, the foundation’s activities are made possible by state aid granted by Finland’s Ministry of Foreign Affairs and the support of the European Union.   Virve Groning, UFF sr’s Managing Director: ‘The reorganisation has been a unique moment in UFF’s history. Our objectives were to strengthen the conditions for our future activities and to ensure the continuity of the organisation’s original missions: to support climate work and global development for sustainability. Thanks to Castrén & Snellman’s comprehensive expertise, we have been able to ensure that all the necessary aspects are covered in the reorganisation. By overseeing the change process in a careful and proactive way, we achieved reliable continuity for our practical service work in society, both for our climate service in Finland and our global development programme.’ 
Case published 18.6.2019
All cases

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