Johanna Lähde

City of Pori and Pori Energia– Finance arrangement to fuel the future growth

Castrén & Snellman is acting as the legal advisor to the City of Pori and Pori Energia Oy in the finance arrangement whereby debt facilities in the total amount of EUR 292 million are secured for the purpose of refinancing the existing liabilities and fuelling the future growth of Pori Energia. Pori Energia and its financiers signed a Finnish law governed facilities agreement for this purpose on 13 January 2025. Pori Energia, a multi-utility company, operates in various sectors including district heating, electricity distribution, and electricity generation through CHP and renewable sources. The company also provides wind power services and industrial energy solutions in the Satakunta region where it has c. 60,000 customers.

6.2.2025

City of Pori – Sale of 49% stake in Pori Energia to Polhem Infra

Castrén & Snellman is acting as the legal advisor to the City of Pori in its sale of a 49% stake in Pori Energia to Polhem Infra. Pori Energia, a multi-utility company, operates in various sectors including district heating, electricity distribution, and electricity generation through CHP and renewable sources. The company also provides wind power services and industrial energy solutions in the Satakunta region. This strategic partnership between the City of Pori and Polhem Infra aims to enhance Pori Energia’s financial stability and investment capabilities, enabling the company to further its efforts in the energy transition and continue delivering high-quality energy services to its customers. Polhem Infra, owned by Swedish state pension funds, focuses on investments in critical infrastructure, including renewable electricity generation, energy storage, energy distribution, digital infrastructure, and transport infrastructure. The transaction values Pori Energia at EUR 905 million.

31.1.2025

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

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

Finnish Mutual Patient Insurance Company – Discretionary Asset Management Services

We assisted Finnish Mutual Patient Insurance Company (FMPIC) in its procurement of discretionary asset management services. The procurement was conducted as an open procedure in accordance with the Public Procurement Act (1397/2016). In the procurement, FMPIC selected two asset managers to whom its assets are to be allocated. The terms of the tendered agreements are indefinite, and they are intended to be in force as of the beginning of 2023. Based on the tender procedure, OP Varainhoito Oy and Nordea Bank Oyj were selected as the suppliers of the services.

27.9.2022

Finnish Mutual Patient Insurance Company – Procurement of an Insurance Platform

We assisted Finnish Mutual Patient Insurance Company (FMPIC) in its procurement of a SaaS-based insurance platform. The procurement was conducted as a negotiation procedure with Swedish iFACTS Ab selected as the supplier of the platform. The new platform is expected to be launched already in autumn 2022. With the procurement of the insurance platform, FMPIC aims for better and more reliable management and processing of customer relations and insurance policies. The goal is to reduce the risks associated with managing customer relations and policies, to improve the data security and data protection of customer and insurance information and to meet regulatory requirements. FMPIC was assisted in the procurement and contract negotiations by our public procurement experts Johanna Lähde and Atte Andersin, Pia Ek and Miika Junttila from the data and technology team and by our insurance expert, Sami Lommi.

31.5.2022

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

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

Fortum Power and Heat – Decommisioning of FiR 1 nuclear research reactor

We advised Fortum Power and Heat Oy in Finland’s first nuclear reactor decommissioning project. Fortum will decommission the FiR 1 research reactor located in Otaniemi, Espoo, together with VTT Technical Research Centre of Finland Ltd. The decommissioning works include planning, preparatory measures, dismantling of the reactor as well as waste management.

21.4.2020

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.’

18.6.2019

Central Deck and Arena – Pioneering real estate development project featuring Finland’s largest multi-purpose arena in Tampere city centre

We acted as counsel for OP Financial Group’s insurance and pension insurance companies and LocalTapiola Group in an arrangement in which said investors agreed, together with SRV Yhtiöt Oyj, on the implementation of the Central Deck and Arena project located in the Tampere city centre. As a part of the arrangement, said investor group formed a consortium together with the City of Tampere for the purposes of the development of the multi-purpose Central Arena. The Central Deck and Arena project will feature Finland’s largest multi-purpose arena, an adjoining hotel and casino, five residential and office tower buildings with approximately 1,000 apartments as well as a parking facility. The total floor area of the building complex will be approximately 120,000 m 2 . Further, the project also involves the development of six apartment buildings in the Ranta-Tampella lakeside area in Tampere. The construction works will be executed in stages with the target that the Central Arena will open in 2021. The overall building complex is estimated to be completed by 2024. A prominent feature of the project is that the building complex will be constructed on an aboveground deck that extends over the existing railway tracks in the Tampere city centre, thus, constituting an entirely new commercial, residential and events district. The total value for the Central Deck and Arena project is estimated to amount to EUR 550 million. The project financing of the Central Arena is envisaged to include EUR 18 million in state aid, which was approved by the European Commission in 2017. Further, the City of Tampere will contribute to the project with an investment of a maximum of EUR 60 million with a majority of the financing directed into development of the Central Arena and the construction of the Arena deck. As counsel for the investors, we had a key role in providing support for our clients in their investment decision-making and the preparation and negotiation of the central agreements concerning the terms and the conditions of the investment under the joint venture agreement between the investors and SRV as well as the shareholders’ agreement for the Central Arena between the investors, SRV and the City of Tampere. Further, we assisted the investors in the preparation and negotiation of key project agreements ranging from the land use and acquisition agreements related to the deck, the railway area and the real properties, operator and cooperation agreements for the Central Arena and commercial lease agreements to the agreement on the use of the Central Deck in the railway area entered into with the Finnish Transport Agency. Our involvement also included the negotiation of the financing documentation with the financiers of the Central Arena comprising Nordea Bank, Tampereen Seudun Osuuspankki, Svenska Handelsbanken and LocalTapiola. The Central Deck and Arena is a prime example of Castrén & Snellman’s wide-ranging expertise in real estate development projects, combining expertise in real estate and construction law and real estate transactions with finance as well as competition and public procurement expertise.

16.2.2018

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

Intermediate Capital Group – Acquisition of Esperi Care Group

We are acting as the legal advisor to Intermediate Capital Group (ICG) in its acquisition of Esperi Care Group from funds managed by CapMan Plc and Esperi Care Group’s management. The transaction was closed on 15 June 2016. Esperi Care Group, founded in 2001, is the leading Finnish social care company that offers residential care services for the elderly, the disabled and those in rehabilitation. The Group collaborates with over 150 Finnish municipalities and has over 3,700 places for inhabitants all around Finland. The Group has a turnover of over €160 million and employs over 4,000 people. ICG is a UK-based specialist asset manager listed on the London Stock Exchange, with a 27-year history in private debt, credit and equity. The company is an active investor, having invested in the Nordic markets for over 25 years. ICG has €21.6bn of assets under management globally.

29.5.2016

Sellers and Investors – Sale of Touhula Varhaiskasvatus Oy

We are acting as the legal advisor to the sellers in the sale of Touhula Varhaiskasvatus Oy to EQT Mid Market Fund. In addition to the sellers, Coronaria Hoitoketju Oy and the management of Touhula, we also advised Cor Group Oy, Norvestia Oyj and Finnish Industry Investment Ltd in relation to their reinvestment in the company. The rapidly growing Touhula, which was founded in 2010, today operates over 80 pre-schools and day-care centres across Finland under two brands, Touhula and Aarresaari. Touhula and Aarresaari provide an active learning environment for children, incorporating physical activity and adventure into the experience. Touhula care for approximately 6,000 children and employs approximately 1,000 day care professionals. The share purchase agreement has been signed and the transaction is pending the approval of the relevant authorities. The transaction is expected to be closed in April 2016.

10.3.2016

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