Hannu Huotilainen

Counsel, Member of the Finnish Bar

I advise both domestic and international clients in assignments related to capital markets and financial regulation. I am specialised in legal and regulatory matters across the financial sector with a specific focus on regulatory frameworks governing the operations of credit institutions, investment service providers, fund management companies, alternative investment fund managers and payment service providers. My core competencies also include regulation applicable to fintech companies and capital markets participants, including listed companies and other issuers of financial instruments.

I have a wide experience in assisting regulated entities in strategic regulatory issues and structuring their operations to meet both their commercial goals and fulfil their regulatory obligations. As an expert in transactions in the financial sector, I have participated in numerous M&A transactions involving regulated entities. I have also assisted in several fund formation assignments. Our clients have praised me for my ability to provide clear and solution-oriented answers to most complex legal issues as well as for my ability to create solutions that add value to clients.

Prior to joining Castrén & Snellman, I worked several years in various positions in the financial sector, including as legal counsel in a credit institution and as market supervisor at the Finnish Financial Supervisory Authority.

Latest references

We acted as legal advisor to OP Finland Infrastructure LP in its investment in ESL Shipping Ltd, a Finnish shipping company. Varma Mutual Pension Insurance Company co-invested in the company. The investment was made against new shares in ESL Shipping, and  the EUR 45 million co-investment  corresponds to a  21.43 % holding in the company. The aim of the investment is to accelerate ESL Shipping’s green transition. ESL Shipping Ltd is a Finnish shipping company. Its main shareholder is Aspo Plc. OP Finland Infrastructure is a fund investing in Finnish infrastructure. The fund is managed by OP Financial Group. Varma Mutual Pension Insurance Company is a Finnish pension insurance company. In September 2023 the value of its investment portfolio amounted to EUR 57.5 billion. 
Case published 26.4.2024
We advise Evli, a leading Nordic investment and wealth management company, in a strategic partnership with Bregal Milestone. The objective of the strategic partnership is to grow the business of Evli Alexander Incentives Oy. In connection with the strategic partnership and to reflect its new vision and strategy, Evli Alexander Incentives Oy will be rebranded to Allshares Oy. As part of the partnership arrangement Bregal Milestone has agreed to invest over EUR 65 million in Allshares to acquire shares owned by certain minority shareholders and to fund future organic and inorganic growth in the company. Following completion of the arrangement, Bregal Milestone will own 55 percent of the shares and votes in Allshares, Evli Plc will own 42 percent, and Allshares’ management will own the remaining 3 percent. The arrangement will mark a significant strategic and financial partnership for Evli Plc and is expected to increase the value of Evli Plc’s ownership in Allshares over a longer period. ‘We are very excited to partner with Bregal Milestone, who shares our vision of becoming the leading provider of share-based incentive and compensation plan management and design in Europe and beyond. With their support, we will be able to accelerate our growth, invest in our platform, and enter new markets. We believe that this partnership will create significant value for our clients, employees, and shareholders,’ Maunu Lehtimäki, CEO of Evli comments. Bregal Milestone is a leading European growth private equity firm and enjoys a strong track record in scaling Nordic champions across Europe via organic and inorganic growth. Bregal Milestone will bring strategic guidance, operational support, financial resources, and access to its deep network of partners and contacts to accelerate organic and inorganic growth of Allshares.
Case published 7.3.2024
We advised Jefferies as the sole arranger and lead manager in a transaction in which Finnfund, a Finnish development financier and impact investor, issued a EUR 100 million green bond. The 10-year bond bears interest at the rate of 3.5% per annum. The bond offering was placed to international investors, including a portion of dedicated green bond investors/portfolios. The bond represents Finnfund’s first ever green transaction and second issuance under its Sustainability Bond Framework established in September 2022. The proceeds from the issue will be used in accordance with the green project categories of Finnfund’s Sustainability Bond Framework to finance and/or refinance eligible green lending, equity investments, and mezzanine financing mainly targeting, for example, the objective of climate change mitigation and adaptation and/or environmentally sustainable management of living natural resources. Net proceeds will be allocated to eligible projects with the objective to mobilise debt capital to support Finnfund’s mission to generate lasting impact by investing in businesses that solve global development challenges. In addition, it contributes to Finnfund’s goal to foster sustainable development by providing investment opportunities for private investors. In its strategy, adopted in January 2022, Finnfund sets one of its targets to fund 50% of its investments with private capital by 2030. Mobilising private capital is key to achieving the UN Sustainable Development Goals (SDGs) in developing countries, given that the UN estimates the financing gap at USD 2.5 trillion per year. Jaakko Kangasniemi, Managing Director, CEO at Finnfund said: “Sustainable, innovative businesses and investors play an integral role in solving both global and local challenges, such as climate change mitigation and adaptation, and biodiversity loss. Capital markets are also vital in the transition away from fossil fuels. We are glad to have such a strong support for our impact investing activity and our mission to foster sustainable development and green transition.” Andrey Medvedev, Senior Vice President at Jefferies said: “We are delighted to have assisted Finnfund issuing its longest private placement to date and showcasing its innovative green projects. This deal demonstrates Finnfund’s appeal to a diversified international investor base and cements its position as a leading development financing agency.”
Case published 26.1.2024
Castrén & Snellman is the trusted partner for companies in the insurance sector both in Finland and internationally. We have assisted our clients in matters such as obtaining authorisation for activities transactions, such as insurance portfolio transfers and ownership control processes system acquisitions disputes outsourcing arrangements sales, marketing and insurance distribution matters. We have extensive experience in the insurance sector and decades of collaboration with supervisory authorities. We offer our clients our internationally recognised competence, clear thinking and solution-oriented experts.
Case published 5.12.2023
We were the legal adviser in two arrangements for the financing of the acquisition of two new Superstar ro-pax vessels (Finncanopus and Finnsirius) by Finnish shipping company Finnlines Plc. Finncanopus and Finnsirius are a part of Finnlines’ EUR 500 million Green Newbuilding Programme which includes two eco-sustainable ro-pax vessels as well as three hybrid ro-ro vessels. The first hybrid ro-ro vessel, Finneco I, was delivered to Finnlines at the Chinese shipyard China Merchants Jinling Shipyard (Jiangsu) on 28 April 2022, Finneco II on 30 May 2022 and Finneco III on 6 June 2022. The first hybrid Superstar ro-pax vessel, Finnsirius, was delivered to Finnlines at the China Merchants Jinling Shipyard in Weihai, China, on 18 July 2023. The second vessel, Finncanopus, is expected to be delivered by the end of 2023. Finnsirius will enter Finnlines’ Finland–Sweden line and the traffic is scheduled to start in September 2023. Finncanopus will join Finnsirius by the end of 2023. The two ships are the largest ro-pax vessels in the Finnlines fleet. With a length of about 235 metres, their loading capacity will be 5,200 lane metres for rolling freight and 1,100 for passengers. In other words, the vessels have the capacity to carry approximately 200 cars and 290 trailers or 250 trucks per voyage. The vessels are as emission-free as possible and the Superstar vessels will be equipped with innovative technology. The air lubrication system creates air bubbles, which reduce friction and hydrodynamic resistance. The onshore power supply will provide an alternative source of energy, enabling emission-free operations in port. A high-powered battery bank will be charged in port and generate power at sea. Two-speed reduction gears will improve propulsion efficiency and save fuel. Green values have also been prioritised in the onboard design and in technological choices. As an example, lighting and ventilation can be adjusted automatically in the passenger accommodation, which reduces energy consumption. The new vessels will feature high-quality restaurants, a sauna and spa section, business and lounge facilities, extensive shopping areas and a variety of other services. The scenic views of the archipelago have been central in the design of the vessels. “Finnlines’ Green Newbuilding Programme has been a massive investment which will benefit our freight customers and private passengers. These hybrid ro-pax vessels are not only the largest in the company fleet so far, but they transport cargo in a more sustainable manner. For example, the vessels have been equipped with enormous high-powered battery banks and onshore power supply in order to have zero emissions while at port,” says Tom Pippingsköld, President and CEO, Finnlines. “Our investment will strengthen services to our freight customers as well as to our passengers,” Pippingsköld continues.
Case published 28.7.2023
We advised Evli in a transaction in which EAB is going to merge into Evli through a statutory absorption merger in accordance with the Finnish Companies Act. The combination agreement and the merger plans relating to the transaction were signed and announced on 31 May 2022, and the transaction is expected to be completed during the second half of 2022. For this transaction, we drafted the first exemption document in the history of Finland in accordance with Commission Delegated Regulation (EU) 2021/528 and regulation (EU) 2017/1129 of the European Parliament and of the Council. Both Evli and the EAB Group offer wide ranging investment services as well as asset and fund management including alternative investment funds (AIFs). The combination of Evli and the EAB Group is the next step for Evli in its strategic path to become a leader in Nordic wealth management services. The Combined Company resulting from the merger will have an especially strong position among others in wealth management for institutions and in the design and management of incentive and rewards systems. 
Case published 7.6.2022
We advised Evli Bank Plc in a complex arrangement between Evli and Fellow Finance Plc, in which Evli demerged into a new asset management group, Evli Plc, and a company that will carry on Evli’s banking services and into which Fellow Finance merged. The arrangement was carried out through a partial demerger of Evli Bank and an absorption merger in which Fellow Finance merged into the remaining part of Evli Bank immediately after the demerger. The new company created through the merger that will continue the banking services was named Fellow Bank Plc. As part of the arrangement, we advised Evli Bank Plc in particular in the demerger and merger processes as well as with respect to related prospectuses and authorisations, registrations and approvals required for the completion of the arrangement. The completion of the arrangement required, among other things, approvals and registrations from the Finnish Financial Supervisory Authority, the European Central Bank and the Finnish Trade Register. The completion of the arrangement also required that Evli Plc’s class B shares be listed on Nasdaq Helsinki. In connection with Evli Bank’s change to Fellow Bank, Evli Bank’s class A shares and class B shares were converted into one listed share class. In addition, Fellow Bank’s capital position was strengthened with a directed share issue. The arrangement resulted in a new Evli, which will focus on wealth management and advisory services, and Fellow Bank, which is based on a scalable and digital service concept. The arrangement further improves opportunities to grow both banking services and wealth management as independent businesses.
Case published 4.4.2022
We acted as Finnish counsel to Sambla Group AB in its acquisition of Rahalaitos Oy from Speqta AB (publ). Advokatfirman Cederquist KB (Sweden) acted as lead counsel for Sambla Group AB and its shareholder Nordic Capital. Rahalaitos is a Finnish fintech company that since 2011 has been offering a marketplace that connects consumers with banks, lenders and insurance companies through technology and services. Rahalaitos has been a pioneer in Finland in developing better opportunities for its customers to apply for loans. Sambla Group consists of Sambla and Advisa and is one of the Nordic region’s largest players in comparison sites for personal finance.
Case published 1.2.2022

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