Suvi Kettunen

Counsel, Member of the Finnish Bar

Services

  1. Employment
  2. Mergers & Acquisitions

Contact details

I have worked on business law for essentially my entire career. At Castrén & Snellman I have worked since autumn 2013 as a specialist in employment law and transactions. Before joining Castrén & Snellman I worked for several years in another law firm focusing on transactions, which sparked my interest in M&A projects, which compliments my work in employment law. I have also been trained on the bench in the District Court of Northern Karelia.

My daily work typically includes assisting domestic and foreign clients in various employment law assignments. In addition to general employment law counselling, I focus my practice on employment and director agreements, co-operation procedures as well as situations relating to termination of employment. Due to my interest in transactions, I am frequently called upon to assist with the employment law aspects of different transaction projects. I find working with various domestic and international assignments very inspiring and my goal is to manage assignments in as practical and solution-oriented a way as possible in order to ensure added value to our clients.

I am currently on family leave.

Latest references

Danske Finance – Cross-Border Merger
We advised Danske Bank A/S and its subsidiary Danske Finance Oy in a cross-border absorption merger, which was carried out in accordance with the Finnish and Danish Companies Acts. After the merger, Danske Bank A/S will continue the business of the merged Danske Finance Oy as a branch in Finland. As part of the arrangement, we advised Danske Finance Oy in particular on the merger process and the related registrations and approvals required to the complete the arrangement. Our team in this arrangement included experts in corporate governance, capital markets and financial regulation and employment law.
Case published 15.1.2024
Uponor Infra – Sale of district energy business
We advised Uponor Infra Oy in the sale of its district energy business to ISOPLUS Suomi Oy, part of ISOPLUS Group, a leading manufacturer of district heating pipes in Europe. Uponor’s district energy business had a net sales level of approximately EUR 40 million in 2022, and it included operations in Finland, Sweden, Estonia and Norway. The divestment is in line with Uponor Infra’s strategy that focuses on growing its core business. Uponor is a leading global provider of solutions that efficiently and effectively move water through cities, buildings, and homes. Uponor helps customers in residential and commercial construction, municipalities, and utilities to be more productive. Uponor’s solutions are sold in more than 80 countries, and the company employs about 4,000 professionals in 26 countries in Europe and North America. In 2022, the company’s net sales totalled approximately EUR 1.4 billion. Uponor Corporation is listed on Nasdaq Helsinki.
Case published 17.4.2023
Applus+ – Divestment of K1 Katsastajat
We advised Applus+ in the divestment of K1 Katsastajat Oy and its vehicle inspection operations in Finland to A-Katsastus Group. The main service of K1 Katsastajat Oy is light and heavy vehicle inspections through its network of 84 stations and 137 employees. K1 Katsastajat Oy also provides technical vehicle inspections, vehicle certificates and registration services and condition checks for commercial customers. Its revenue in 2021 was 14 million euros. This divestment is in line with the active portfolio management announced in the Applus+ Strategic Plan to focus on portfolio mix quality-improvement. Applus+ Group is a worldwide leader in the testing, inspection and certification sector for its technical capabilities, innovative approach, and its workforce of over 25,000 employees in more than 70 countries. It is a trusted partner, enhancing the quality and safety of its clients’ assets and infrastructures while safeguarding their operations.
Case published 5.1.2023
Evli – EAB Group Merger into Evli
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
Evli Bank and Evli – Evli Bank’s Demerger Into Evli Plc and, Through Merger With Fellow Finance, Fellow Bank
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
F-Secure – Proposed separation of F-Secure’s Consumer Security business through a partial demerger
We act as legal advisor to F-Secure Corporation in the proposed separation of F-Secure’s Consumer Security business through a partial demerger. It is planned that the Consumer Security business will be transferred into a new independent company, to be named F-Secure Corporation and established in connection with the demerger, and which will be listed on the official list of Nasdaq Helsinki Ltd.   The demerger is expected to become effective as of 30 June 2022. In connection with the demerger, F-Secure Corporation will retain its Corporate Security business, which is planned to be renamed as WithSecure Corporation. F-Secure Corporation (listed on the NASDAQ OMX Helsinki) is a global cyber security and privacy company with over 30 offices around the world and is headquartered in Helsinki, Finland.
Case published 17.2.2022
9Lives Group – Acquisition of Stella Kotipalvelut
We advised first aid and ambulance service company 9Lives Group Oy when it acquired the entire share capital of Stella Kotipalvelut Oy. The acquisition is at the heart of 9Lives’ strategy and is driven by, among other things, the SOTE reform and the megatrend of population aging. ‘Stella is one of the leading players in home care and personal care in Finland. By combining our strengths and expertise, we will have an even stronger foothold in the market as well as a more comprehensive service network, and we will be able to offer high-quality and versatile care close to the customer competitively. In addition, as a Finnish-owned and entrepreneur-driven operator, we are able to react to market changes quickly, in a customer-oriented and reliable manner’, says Markus Ulfstedt , CEO and owner of 9Lives. 9Lives is Finland’s largest private company providing first aid and ambulance services. The clients of its ambulance services are public actors and medical institutions. The company has also lately become known with COVID-19. The company’s turnover in 2020 was approximately EUR 20 million and it employs 800 people. Stella Kotipalvelut Oy is a company specialising in home care services, with a turnover of EUR 24 million in 2020. The company employs 1,600 people, of whom 520 are permanent employees.
Case published 5.1.2022
Lantmännen – Acquisition of Myllyn Paras
Castrén & Snellman advised Lantmännen in its contemplated acquisition of Finnish food company Myllyn Paras from Sponsor Capital and minority owners. The acquisition is a key step in broadening Lantmännen’s offering in Finland. Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Lantmännen is owned by 19,000 Swedish farmers and has 10,000 employees in over 20 countries. Myllyn Paras is a Hyvinkää-based company manufacturing, marketing and distributing flour, flakes, grains and pasta as well as frozen dough and bakery products. Myllyn Paras was established in 1928 and operates two factories in Hyvinkää and one in Tammela. Myllyn Paras is one of the most valued food brands in Finland. The group also exports products internationally. Myllyn Paras group employs approximately 110 employees. The completion of the acquisition is subject to obtaining merger control approval from the Finnish Competition and Consumer Authority.
Case published 23.9.2021
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