Lauri Liljavirta

Senior Associate, Member of the Finnish Bar

I advise our clients in criminal procedures and dispute resolution. I assist companies and company management in criminal procedures related to matters such as:

• financial crime

• business offences

• security markets offences

• trade secret offences and data and communications offences

• offences in office

• environmental offences

• work safety offences and employment offences.

I assist both the injured parties and the defendants.

Prior to joining Castrén & Snellman, I worked for several years as a senior constable, gaining experience in criminal investigation and surveillance and emergency operations, among others. I have also participated in court training at the Päijät-Häme District Court. With my experience from working at the Helsinki Police Department and in court, I have an extensive understanding of criminal procedures, which I get to leverage in assisting our clients.

In addition, I advise our clients in assignments related to capital markets and financial regulation as well as mergers and acquisitions.

Latest references

We advised lead manager Danske Bank A/S, Finland Branch, in Toivo Group Oyj’s listing on Nasdaq First North Growth Market Finland. The initial public offering consisted of public, institutional and personnel offerings and was oversubscribed. The company raised gross proceeds of approximately EUR 13.0 million from the IPO and has a total of 1,500 shareholders after the IPO. Trading in Toivo Group’s shares began on First North on 11 June 2021. Toivo Group is a Finnish real estate company founded in 2015 that engages in project development and long-term ownership of real estate. Toivo Group’s turnover in 2020 was EUR 4.3 million and its operating profit was EUR 7.2 million.
Case published 11.6.2021
We assisted Netum Group and lead manager Evli Bank Plc in Netum Group’s listing on Nasdaq First North Growth Market Finland. The initial public offering consisted of public, institutional and personnel offerings and was oversubscribed by 7.4 times. The company raised gross proceeds of EUR 8.0 million from the IPO. ‘The offering brought us significant Finnish institutional investors and a pleasing number of private investors as new owners. I am particularly proud that our personnel participated actively in the offering, as this is further proof of our personnel’s strong commitment to the company. I would like to thank everyone who participated in the IPO and welcome our new shareholders to join us in creating sustainable and secure digital change’, says Matti Mujunen , CEO of Netum. Trading in the company’s shares began on First North on 2 June 2021. Netum Group is a strongly growing IT services company with over 20 years of experience of demanding IT projects. The company offers its public administration and corporate customers its Legacy to Digi® concept that enables combining traditional IT solutions with the latest digital applications–sustainably and securely. Netum Group’s services include digital service development, continuity services, integration services, cyber security services as well as management consulting services. Netum Group’s turnover in 2020 was EUR 17.5 million and it employs over 160 people in Finland.
Case published 2.6.2021
We advised Alexandria Pankkiiriliike Oyj and financial adviser Oaklins Merasco Oy in Alexandria’s listing on Nasdaq First North Growth Market Finland. The initial public offering consisted of a public, institutional and personnel offering and was oversubscribed multiple times. Alexandria has over 3,200 shareholders after the listing. Alexandria was established in 1996 and has grown over 25 years into one of the largest investment service firms in Finland. The company specialises in high-quality savings and investment solutions. Alexandria’s 250 professional investors serve over 35,000 customers in 30 municipalities.
Case published 11.5.2021
At OP sustainability is everything. When establishing an entirely new kind of impact fund, the leading financial services group trusted Castrén & Snellman’s expertise. An increasing number of investors want to not just make money, but make a difference. ‘This shift in values is particularly clear in younger investors. Sustainability has changed investment activities a great deal. Investing has become more difficult, but also more interesting’, says Tuomas Virtala , CEO, Asset Management, at OP Corporate Bank. The first wave came in the form of ethical and sustainable investing, which focused on either avoiding investments in unethical industries or encouraging companies to act more sustainably. In recent years, sustainable investing has been joined by impact investing, in which global problems are tackled with private money. ‘Impact investing is not about charity but about making a positive impact as well as a competitive profit. It is the only sustainable way to arrange financing to solve global problems’, Virtala says. Demand for Impact Fund Exceeded Expectations OP, Finland’s leading financial services group is a pioneer of impact investing. Last year, OP collaborated with Finnfund to establish Finland’s first impact fund to invest in emerging markets. Finnfund is a development financier that builds a sustainable world by investing in responsible and profitable businesses in developing countries. Finnfund is owned by the Finnish State, Finnvera and the Confederation of Industries. The new impact fund, OP Finnfund Global Impact Fund I, raised 76 million euros in its first round of funding. After the second round, the fund’s size stands at 135 million euros. ‘The investor interest exceeded our expectations. It is clear that investors are keen to promote sustainable development and are excited by the growth potential of emerging markets, despite the ongoing pandemic’, Tuomas Virtala says. The fund is seeking to achieve measurable positive impacts on climate change, food security, gender equality and the availability of financing. The fund’s main industries are renewable energy, financial institutions and sustainable agriculture. ‘By investing in developing markets, we can achieve major impacts. The investments are aimed at first getting the fundamentals in place in the target markets. For example, replacing generators with more sustainable means of producing energy. Once the foundations are in place, we can move on to more demanding projects, such as constructing mobile phone networks.’ Sustainability Part of Every Employee’s Day Establishing a new impact fund is just one example of OP’s sustainability work. ‘Sustainability is an integral part of OP’s strategy and is reflected in the daily work, decisions and activities of everyone at the company’, Tuomas Virtala says. OP’s corporate responsibility programme is framed around four themes: OP aims to foster a sustainable economy, support local vitality and community spirit, improve financial literacy in Finland, and use their intellectual and information capital in a responsible way. According to Virtala, sustainability expertise was previously centralised in a separate asset management unit, but now these experts have been placed in every unit. ‘One unit is no longer enough. Sustainability work and expertise needs to be integrated into every function and throughout the entire value chain.’ In addition to their corporate responsibility programme, each unit in OP has its own responsibility principles. ‘Asset management is a pioneer in promoting sustainability within OP. We provide the company sustainability expertise relating to wealth management and foster this expertise by training our employees and sharing knowledge.’ A Good Partner Knows the Best Practices Castrén & Snellman and OP have a long history of working together. Among other projects, Castrén & Snellman assisted OP in the establishment of Finland’s first impact fund to invest in emerging markets last year. According to Tuomas Virtala, Castrén & Snellman has been a good partner in sustainability work. ‘It is vital that our partners understand the best sustainability practices. A law firm that has a clear vision of the smartest way to do something can help us learn and develop’, Virtala says. It is also important for law firms to anticipate future regulation. ‘The regulation of sustainability matters is constantly developing, and we want to be able to anticipate it as best we can so that we can make sure we are keeping up.’ Some Success Stories from OP’s and C&S’s Shared Journey 2021 OP Financial Group – Sale of Checkout Finland to Paytrail OP Corporate Bank – Financing Arrangement for OP Vuokrakoti OP Corporate Bank – Finance of Acquisition of Profit Software 2020 OP-Public Services Real Estate Fund – Acquisition of Aalloppi Healthcare Property from eQ Finnish Real Estate Caverion Corporation and Manager Banks – Issue of EUR 35 Million Hybrid Bond OP and Finnfund – Establishment of a New Global Impact Fund Danske Bank, Nordea and OP Financial Group – Sale of Automatia Pankkiautomaatit to Loomis Ilmarinen, OP and LocalTapiola – Acquisition of Stakes in REDI and Tampere Central Deck and Arena Project OP Cooperative – Sale and Leaseback of OP Headquarter Campus in Helsinki 2019 OP Corporate Bank – Financing Arrangement for Veho Lenders – Metsä Board’s Bank Financing Facility with Sustainability Targets OP Group – Successful Defence of OP Group in Major FCCA Dominance Investigation OP Corporate Bank – SRV Group’s Issue of EUR 58.4 Million Capital Notes OP Financial Group – Reorganisation of Shareholding in Access Capital Partners Pohjola Health – Sale of Occupational Health Services Business OP Life Assurance Company – Disposal of a Helsinki CBD Property Fund Managed by OP Real Estate Asset Management – Konepaja Hotel Development Project 2018 OP Corporate Bank – EUR 43 Million Financing Arrangement for Kreate OP Corporate Bank and Nordea Bank – Revolving Credit Facility Agreement for Lehto OP Corporate Bank – Financing of the Acquisition of Roima Intelligence OP Financial Group – Sale of Residential Portfolio to Kojamo Group Central Deck and Arena – Pioneering Real Estate Development Project Featuring Finland’s Largest Multi-purpose Arena in Tampere City Centre 2017 OP Toimitilakiinteistö – Acquisition of Modern Logistics Warehouse OP Rental Yield – Acquisition of BREEAM Certified Office Properties 2016 OP Corporate Bank – Financing of Intera Partners’ Acquisition of Sikke Security Oy (formerly ISS Security Oy) OP Property Management – Sale of a Large Real Estate Portfolio to M7 Real Estate Helsinki Area Cooperative Bank – Court Case Concerning Electronic Identification Services Act 2015 OP-Rental Yield – One of Finland’s Largest Real Estate Portfolio Transactions in the 21st Century OP-Pohjola & LähiTapiola – Construction and Development of REDI Shopping Centre and Parking Facilities 2014 OP-Pohjola – Tender Offer for All Shares in Pohjola Bank OP-Rental Yield – Acquisition of a Property Portfolio Comprising Over 20 Residential Properties and Over 800 Housing Units
Case published 25.3.2021
We represented OP Financial Group in the sale of Checkout Finland Oy’s entire share capital to Finnish online payment company Paytrail Oyj, which is part of the international Nets Group. Nets is a leading supplier of payment solutions in the Nordics. OP and Nets have a long history of cooperation. Through this deal, Paytrail and Checkout will form a strong domestic player in a field that is facing intensifying international competition through rapid consolidation. The completion of the transaction is subject to approval from the FIN-FSA. Checkout Finland is a domestic payment gateway service that provides merchants payment solutions both in ecommerce and in store. Checkout’s services are currently in use in over 10,000 Finnish stores and it has forwarded over 12 million payments. Paytrail was established in 2007 and is the largest Finnish online payment service. The company handles payment traffic for over 10,000 online stores. OP Financial Group is Finland’s largest financial services group and is fully owned by its customers. OP Financial Group employs over 12,000 people. It has approximately 3.3 million private customers, 300,000 corporate customers and 2 million owner-customers. OP Financial Group is made up of 137 independent cooperative banks and their central cooperative, OP Cooperative, with its subsidiaries and affiliates. The C&S team included legal experts from our Mergers & Acquisitions, Capital Markets & Financial Regulation, Data & Technology, Tax & Structuring, Competition & Procurement and Employment services.
Case published 2.3.2021
We acted as the legal advisor to Carnegie Investment Bank AB, Finland Branch and Alexander Corporate Finance Oy, the Joint Global Coordinators and Joint Bookrunners, in an issue of new shares of Remedy Entertainment Plc directed to a limited number of domestic and international institutional investors. The issue was carried out through an accelerated book-building process. The investor demand towards the share issue was strong, and the issue was subscribed multiple times. Approximately 37% of the issue shares were allocated to international investors. The total proceeds raised in the issue amounted to approximately EUR 41.5 million. Remedy Entertainment Plc is a globally successful video game company known for story-driven and visually stunning console and computer games. Remedy is listed on the Nasdaq First North Growth Market Finland marketplace.
Case published 23.2.2021
We assisted Ukkoverkot Oy and its shareholders in a transaction in which Cellnex, the leading operator of wireless telecommunications infrastructures in Europe, purchased all the shares in Ukkoverkot Oy, the parent company of EDZCOM, becoming the sole owner of the Edge Connectivity solutions provider. EDZCOM plans to accelerate its international expansion by entering the UK and French markets at the end of 2020, followed by growth across other European markets in succeeding years, enabled by its new owner, Cellnex. ‘EDZCOM is a growth company with an expert team. Cellnex, with their impressive footprint and capabilities, provides us with access to growth capital and new markets. The complementarity of our businesses promises strong opportunities for vertical integration’, says Mikko Uusitalo, who continues to lead EDZCOM as CEO, in a press release. EDZCOM is the Nordic market leader in Edge Connectivity – private wireless connectivity solutions. Cellnex is the main infrastructure operator for wireless telecommunication in Europe, providing services in Italy, the Netherlands, the United Kingdom, France, Switzerland, Ireland, Portugal and Spain.
Case published 26.10.2020
We represented a company belonging in an European insurance group in the acquisition of an extensive portfolio of forest properties from United Bankers’ UB Nordic Forest Fund I. In the transaction, all partnership interests in the limited partnership fund were acquired for a total price of approximately EUR 73 million. In addition to forest properties, the purchaser obtained an existing forest management infrastructure. The transaction stems from the insurance group’s desire to grow the share of forest properties in its investment allocation.
Case published 23.10.2020

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