Sanna Aalto-Setälä

Senior Associate, Member of the Finnish Bar, ThD

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Environment, Energy & Green Transition

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I advise our clients on a wide variety of matters related to the environment, infrastructure and natural resources.

Before joining Castrén & Snellman, I worked in law firms specialising in market court, administrative court and district court procedures. At Finnish Consulting Group, owned by the Association of Finnish Local and Regional Authorities, I both served as an in-house lawyer and extensively handled client assignments, particularly on legal issues related to renewable energy and water and waste management.

My strength lies in a practical yet thorough approach to assignments. I have experience in managerial and project management roles as well as training others. In addition, I have had the opportunity to participate in legislative preparation tasks, including being heard by the Finance Committee of the Finnish Parliament.

My interest in environmental law is also academic, and I have published peer-reviewed articles in the field.

I am a member of the Finnish Bar Association’s Environmental Law Working Group.

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Latest references

PwC – Public tender in Kela’s Eepos procurement process

We are proud to have provided legal assistance to PwC in the successful public tendering process for the comprehensive renewal of Kela’s benefits processing systems. Kela is the Social Insurance Institution of Finland, and this project is a significant cornerstone in modernising Finland’s social security infrastructure. PwC was selected as Kela’s strategic partner to implement a comprehensive overhaul of the benefits processing systems, digital services, customer relationship management, and information exchange platforms. The project aims to meet the demands of the future digital environment and enhance customer experience through the adoption of Salesforce technology. The new systems are expected to simplify benefit processes, enhance user experience for both customers, employees and other stakeholders, and ensure adaptability to future legislative changes. Castrén & Snellman provided strategic legal support to PwC throughout its successful bidding process, which was carried out through a competitive negotiated procedure. We extend our warmest congratulations to PwC for their successful bid and look forward to seeing the positive impact of this project on Finland’s social security system.

Milexia Group – Acquisition of business of Alpha Positron

We advised Milexia Group, a portfolio company of the French PE sponsor Crédit Mutuel Equity, on its acquisition of the activities of Alpha Positron Oy, a Finnish distributor specializing in GPS/GNSS, time and frequency solutions for the electronics industry, process automation, corporate IT, defense, and other demanding markets. Milexia Group is one of the world’s leading European suppliers for high-quality electronic components, systems and scientific instruments technology. It has offices, warehouses and technical centres in France, Italy, Spain, the United Kingdom, Germany, Nordics and Hong Kong. The acquisition aligns with Milexia’s strategy to expand its presence in the Nordic region and enhance its portfolio of communication solutions.

Piippo – Sale of bale netwrap and baler twine machines and certain trademarks

We are acting as legal advisor to Piippo Plc in the sale of their bale netwrap and baler twine machines, related assets, and trademarks used in Piippo’s business to Portuguese Cotesi S.A. The sale of assets will be carried out in two phases and the final completion of the transaction is expected to occur during the first quarter of 2026. Piippo Oyj’s core business is baling nets and twine and it is one of the leading suppliers in the industry globally. The company’s global distribution network covers more than 40 countries. The company’s shares are listed on the First North Growth Market Finland operated by Nasdaq Helsinki Oy. Founded in 1967, Cotesi is one of the world’s leading producers of synthetic and natural twines, nets and ropes, with operations in Europe, North America and South America and its main production plant in Vila Nova de Gaia, Portugal.

KKR – Acquisition of Karo Healthcare

We acted as Finnish legal adviser to KKR in connection with its acquisition of the entire share capital of Karo Healthcare from EQT. The transaction follows Karo’s significant strategic transformation from a Nordic specialty pharma business into a leading pan-European consumer healthcare platform, with an attractive product portfolio spanning core categories such as Skin Health, Foot Health, and Intimate Health, as well as Digestive Health and Vitamins, Minerals & Supplements. KKR & Co. Inc. (NYSE: KKR), is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Completion of the transaction is subject to customary conditions and regulatory approvals. The transaction is expected to close in the coming months.

Savings Banks Group – Sale of Sb Life Insurance

We advised the Savings Banks Group on an arrangement whereby the shares in Sp-Henkivakuutus Oy were sold to Henki-Fennia and at the same time the parties agreed on a long-term distribution cooperation for insurance savings and loan protection products. The closing of the transaction remains subject to regulatory approvals. Sb Life Insurance is a domestic life insurance company, established in 2007, offering insurance savings and risk insurance products to private customers and companies. The Savings Banks and Oma Säästöpankki Oyj act as agents for Sp-Life Insurance. Henki-Fennia is a subsidiary of Keskinäinen Vakuutusyhtiö Fennia, specialising in voluntary life, pension and savings insurance.

Readpeak – Capital Investment

We advised Readpeak in an arrangement where Finnish growth fund Voland Partners made an investment in Readpeak. Readpeak is a service platform specialising in native advertising for purchasing, designing, and targeting the distribution of advertising space. Readpeak has quickly risen to a leading position with its platform solution, which enables an easy way to target and schedule communications as part of the news feed on media sites. Readpeak is a company founded in Helsinki in 2014, which has since expanded to nine European market areas and collaborates with over a thousand publishers. Readpeak redefines content-driven advertising using advanced machine learning models, creating added value for both quality media and journalism. Voland Partners is a minority investor specialising in the development of technology companies, with a mission to work together with entrepreneurs to build successful companies responsibly, creating success stories that benefit the entire society. Readpeak is Voland Partners’ sixth investment target, into which the fund company is investing from its first growth fund of 57 million euros.

Nokian Brewery – Listing on First North

We advised Nokian Brewery Plc in its listing on Nasdaq First North Growth Market Finland. Investor demand in the IPO, which consisted of a public and institutional offering, was very strong and the IPO was oversubscribed. Nokian Brewery raised gross proceeds of approximately EUR 10 million from the IPO. In the IPO subscriptions were received from more than 2,900 investors and as a result of IPO the number of shareholders in the company increased to more than 4,700 shareholders. The IPO gives us a strong platform for the next years of growth. We are grateful to investors for their confidence and excited about what we can achieve together. This is the beginning of a new chapter in the Nokian Brewery story. – Janne Paavola, CEO Trading in Nokian Brewery’s shares began on First North on 3 April 2025 with trading symbol BEER. Nokian Brewery is Finland’s second largest microbrewery and fifth largest brewery in terms of turnover in 2023. Nokian Brewery is particularly known for its Keisari beers. Nokian Panimo manufactures all its products at its production facility in Nokia, and in 2024 its sales volume totalled more than 8.3 million litres and turnover was EUR 11.9 million. Domesticity, responsibility and sustainable practices are at the heart of Nokian Brewery.

Fingrid – Update of EMTN Programme

We advised Fingrid Oyj on the Finnish law aspects of the update of an EMTN programme and increase to EUR 3 billion. Notes issued under the programme may be admitted to trading on Euronext Dublin. Fingrid Oyj is Finland’s transmission system operator.

Get to know our other experts in the field

Marius af Schultén

Environment, Energy & Green Transition

+358 40 565 7034 marius.schulten@castren.fi

Samuli Tarkiainen

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+358 41 436 0953 samuli.tarkiainen@castren.fi

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+358 45 671 7092 kanerva.sunila@castren.fi

Helinä Pohjanlaakso

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+358 20 776 5061 helina.pohjanlaakso@castren.fi

Joel Aartolahti

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+358 50 460 3771 joel.aartolahti@castren.fi

Environment, Energy & Green Transition

+358 20 776 5212 sonja.leinonen@castren.fi

Minttu-Maria Miettinen

Environment, Energy & Green Transition

+358 40 071 0263 minttu-maria.miettinen@castren.fi

Environment, Energy & Green Transition

+358 45 788 18016 konsta.peussa@castren.fi

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