Sampo Korpiola

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

Oomi – Transfer of KSS Energia’s electricity sales contracts for consumer and business customers to Oomi

We are advising Oomi Oy in a business transaction whereby KSS Energia Oy’s consumer and business customers in the retail sale of electricity will be transferred to Oomi. The transfer is scheduled to take place in March 2025. The arrangement requires approval from the Finnish Competition and Consumer Authority. Oomi Oy is one of the largest energy service companies and electricity sellers in Finland. The arrangement is a result of the recent development of the electricity market and Oomi’s strategy, which aims to offer customers a seamless and improved digital customer experience.

20.12.2024

BHP – Alliance agreement with Kingsrose Mining Limited

We acted as the Finnish legal advisor for BHP in connection with an exploration alliance agreement entered into between BHP and Kingsrose Mining Limited under which BHP (through a wholly owned subsidiary) will provide funding for regional mineral exploration across areas of interest in Finland. As part of the arrangement announced on 22 May 2024, BHP and Kingsrose entered into two exploration alliance agreements, focusing on nickel and copper exploration in specified regions in Finland and Norway. In Finland, the alliance agreement covers Kingsrose’s four exploration reservations at the Central Finland project in the Kotalahti Nickel Belt, a 400 kilometre long greenstone belt which hosts the past producing Hitura, Kotalahti and Enonkoski nickel mines. The alliances follow from Kingsrose’s successful participation in the BHP Xplor program, a global accelerator program targeting innovative, early-stage mineral exploration companies to find the critical resources necessary to drive the energy transition. BHP is the largest mining company in the world by market capitalisation, producing essential commodities through its assets, including iron ore, metallurgical coal, copper and nickel, and moving into potash.

4.7.2024

Nevel – Acquisition of Veitsiluoto’s Energy Infrastructure, and Utility Supply for Infinited Fiber Company

We are advising Nevel Oy in the implementation of energy infrastructure services in Veitsiluoto in Kemi, northern Finland. Nevel will purchase the area’s district heating business from Stora Enso. The acquisition will ensure the continuity of the service for the local households and real estate. Nevel has signed a contract to supply the energy to the Stora Enso Veitsiluoto sawmill and plans to invest in a new 11 MW biofuel boiler plant and flue gas condenser at the Veitsiluoto sawmill, which will reduce emissions from heat production. Nevel has also agreed to supply renewable textile and fashion technology company Infinited Fiber Company with energy and water utilities for their new processing plant at the Veitsiluoto site. Infinited Fiber Company is planning to convert a paper factory previously operated by Stora Enso on the site into a textile fiber production plant. This will be the company’s first commercial-scale plant. The fiber production processes require steam energy and water purification. Among other services, Nevel is set to supply Infinited Fiber Company with energy and water utilities. Energy provided will be renewable, reducing emissions from heat production. Nevel is a utility infrastructure company offering advanced industrial and municipal infrastructure solutions that are fit-for-purpose and future-proof. Nevel operates more than 130 energy production sites and manages over 40 district heating networks. The company has an annual turnover of EUR 100 M, and employs 150 experts in Finland, Sweden, and Estonia. Infinited Fiber Company is a fashion and textile technology company. Its breakthrough innovation turns cellulose-rich materials – like worn-out clothes – into InfinnaTM, a premium textile fiber.

23.6.2022

Ahlström Capital – Merger of Enics and GPV International

Castrén & Snellman and Danish law firm Plesner are advising Ahlström Capital and its portfolio company Enics Group in the contemplated merger between Enics Group and GPV International A/S, wholly owned by the public listed company Schouw & Co A/S. The transaction values the combined business at more than DKK 4 billion. The merger will create Europe’s second-largest EMS (electronics manufacturing services) company with production facilities across worldwide and with more than 7,500 employees globally. Schouw & Co A/S will hold 80% of the shares in the merged entity and Ahlström Capital will hold the remaining 20% of the shares. The completion of the acquisition is subject to customary approvals, including from competition authorities in certain jurisdictions. Schouw & Co. is a Danish industrial conglomerate listed on Nasdaq Copenhagen. Ahlström Capital is a family-owned investment company.

23.6.2022

Tokmanni – Expansion of the Mäntsälä Logistics Centre

We are advising the Finnish retailer Tokmanni in a construction project in Mäntsälä, Southern Finland, whereby a new warehouse will be constructed in the immediate vicinity of Tokmanni’s existing headquarters and logistics centre to support and supplement the company’s existing logistics centre. Once the warehouse building is completed in 2024, it will be sold to Logicenters and leased back to Tokmanni under a 20-year lease. Following the completion of the new warehouse, Tokmanni will also continue to use in full the existing logistics centre in Mäntsälä. The planned warehouse, which measures approximately 55,000 square metres, will replace the warehouse space currently leased outside of the existing logistics centre. The overall value of the investment is estimated to come to approximately EUR 60 million. The new warehouse building and cooperation with Logicenters is in line with Tokmanni’s environmental and sustainability goals, and the company seeks to apply for a BREEAM rating of ‘Very Good’ for the new warehouse building.

25.1.2022

RCL Holding – Acquisition of Helsingin Pantti-Osakeyhtiö and Sefina Svensk Pantbelåning Aktiebolag

We acted as Finnish counsel to RCL Holding AB in its acquisition of Helsingin Pantti-Osakeyhtiö and Sefina Svensk Pantbelåning Aktiebolag from Aurajoki Nordic Group Oy. The acquisition was carried out by RCL Holding AB’s fully owned subsidiary. Morris Law (Sweden) acted as lead counsel for RCL Holding AB. Helsingin Pantti was founded in 1882 and is specialised in pawnbroking, auctioning and sale of second-hand jewellery. Helsingin Pantti is the largest pawnshop in Finland, being active in seven cities and having 12 pawn shops around Finland. In 2020, Helsingin Pantti employed 50 employees and had a turnover of 15.7 million euros. Sefina Svensk Pantbelåning Aktiebolag was established around 1884 and is the largest pawnshop in the Nordics, having approximately 95 employees and 20 pawn shops around Sweden.

2.11.2021

Lassila & Tikanoja – Acquisition of Spectra Yhtiöt

We advised Lassila & Tikanoja in the acquisition of the entire share capital of Spectra Yhtiöt Oy. The acquisition will significantly strengthen L&T’s service offering in the retail segment. In addition to the conventional property and recycling services, the offering will now also include guard, bottle return and shelving services. Spectra Yhtiöt Oy is a Finnish family-owned company that offers a variety of services to the retail sector in Finland, mainly to shopping centres and large to mid-sized supermarkets. Spectra’s turnover is approximately EUR 6 million and the company has 200 employees in Southern Finland and in the Kuopio region. ‘This deal will make us an even more interesting and agile partner in property services within the retail sector. Our comprehensive service offering will enable us to serve as a true one-stop shop for retailers. We aim to be the most attractive partner in Finland in the retail sector’, says Antti Niitynpää, Senior Vice President, Facility Services Finland.

16.8.2021

OP-Rental Yield Non-UCITS Fund and OP Bank Group Pension Foundation – Sale of Residential Portfolio

We advised OP-Rental Yield Non-UCITS Fund and OP Bank Group Pension Foundation in the joint sale of a residential portfolio. The portfolio consists of seven assets with a total of 345 apartments. Six of the assets are located in the Helsinki Metropolitan Area and were constructed in the twenty-tens.

20.7.2021

The Finnish Lifelong Learning Foundation – Lifelong Learning Foundation – Sale of Art Nouveau Building in Central Helsinki

We advised the Finnish Lifelong Learning Foundation (Kvs Foundation) in the sale of an Art Nouveau building originally built by the Kvs Foundation in central Helsinki to a property fund advised by Morgan Stanley Real Estate Investing (MSREI). Constructed in 1913, the building has been in both residential and office use during its history. The Kvs Foundation is Finland’s oldest educational foundation and independent think tank on everyday learning. Its purpose is to promote learning and adult education. Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management arm of Morgan Stanley.

8.7.2021

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.

8.1.2021

OP-Public Services Real Estate Fund – Acquisition of Part of a Hybrid Block in Lahti

We advised OP-Public Services Real Estate Fund in its acquisition of part of the hybrid block in the city centre of Lahti at Aleksanterinkatu 11 from YIT. The sale includes the Kiinteistö Oy Lahden Hämeenkatu 12 and Kiinteistö Oy Lahden Mariankatu 12 companies, with a total leasable area of nearly 7,000 square metres. The value of the transaction is approximately EUR 16.5 million.

16.12.2020

MVH-Kiinteistöt – Sale of Healthcare Portfolio

We advised MVH-Kiinteistöt Oy in the sale of seven healthcare properties to Hoivatilat Oyj. The properties provide capacity to 171 residents and a gross lettable area of approximately 7,700 sqm. The total purchase price is EUR 26.5 million. The properties are located in six Finnish cities and are fully occupied with long lease agreements. The recently built sites are operated by four different operators providing accommodation to specific patient groups.

11.12.2020

Samla Capital – Acquisition of Historically Valuable Property in Helsinki

We advised Samla Capital Oy in a transaction whereby Samla Toimitilat II Ky and Samla Asunnot Ky managed by it acquired a historically valuable property complex located in Kruununhaka, Helsinki. The property complex is comprised of three buildings built in 1885 and one built in 1930. The buildings have a total floor area of approximately 13,500 square metres. Three out of the four buildings will be renewed to an interesting international hotel with ancillary services. The fourth building at the address Liisankatu 8A will be renovated either for residential or hotel use.

21.9.2020

OP Life Assurance Company – Sale of a Landmark Property in Helsinki Centre

We advised OP Life Assurance Company Ltd in the sale of a high-value property located at Arkadiankatu 23 in the centre of Helsinki to LaSalle Investment Management for a purchase price of 45.5 million euros. The building comprises over 10,000 square metres mainly of lettable office as well as 80 parking spaces. The property was built in 1932 and has been renovated numerous times over the years. The building is nearly fully leased.

8.9.2020

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