Transactions in the Financial Sector

Transactions in the Financial Sector

Transactions in the financial sector always require special expertise. For example, transfers of insurance portfolios call for detailed knowledge of regulatory issues and the insurance business as well as close dialogue with the relevant authorities.

Choosing an experienced advisor will enable you to identify regulatory risks in good time and plan the procedure to ensure that the arrangement can be completed swiftly.

Mergers and acquisitions
Transfers of business
Transfers of insurance portfolios
Corporate restructurings

Our clients include banks, insurance companies, investment service firms and fund management companies.

The Legal 500, IFLR1000, Chambers Europe and Chambers Global rank our services among Finland’s best.

Latest references

Multitude – Relocation from Finland to Switzerland

We act as the lead legal counsel in the groundbreaking case of Multitude SE’s (Multitude) proposed relocation from Finland to Switzerland. The first phase of the relocation, involving the transfer of Multitude’s registered office from Finland to Malta pursuant to SE Regulation, was successfully completed on 30 June 2024. In this connection, Multitude’s shares were removed from the Finnish book-entry system and the issuer central securities depository of the shares changed from Euroclear Finland Oy to the CSD operated by the Malta Stock Exchange. In practice, all of Multitude’s shares are now held through Clearstream. In Malta, the company is anticipated to be converted into a public limited liability company under Maltese law, following which it will seek redomiciliation from Malta to Switzerland. Given that Finnish legislation does not allow for direct relocation to a non-European Economic Area country such as Switzerland while preserving the company’s legal personality, the process necessitated a multi-jurisdictional strategy as outlined above. Our mandate encompasses advising Multitude on all aspects governed by Finnish law concerning the proposed relocation and coordinating the work of local legal counsel and various other advisors involved in the project. The process also involved a written procedure to amend Multitude’s existing subordinated capital notes and senior bonds to facilitate the relocation as well as placement of EUR 80 million senior guaranteed notes by a newly established Multitude Capital Oyj. ”The transfer to Malta marks a significant step in Multitude’s journey. This pioneering and complex process has been successfully implemented with the invaluable support of our own team and advisors. Castrén & Snellman has masterfully orchestrated the entire project, ensuring seamless coordination across multiple jurisdictions. We look forward to achieving our next step with the further relocation to Switzerland”, says Jorma Jokela, Multitude’s CEO. Multitude is a fully regulated growth platform for financial technology, employing over 700 individuals across 25 countries. Its shares are listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.

A. Ahlström Real Estate – Acquisition of an office complex

We advised A. Ahlström Real Estate Ltd in its acquisition of an office complex in Pasila, Helsinki, from Avain Yhtiöt Oy. The office complex is part of a new block area that will also include three tower blocks. Construction of the block has started in early 2025 and the office building is expected to be completed by the end of 2026. The office building is located in Central Pasila, in the immediate vicinity of the Tripla shopping centre, with excellent transport connections. The office will provide modern and adaptable office space for up to 450 employees. The anchor tenant in the new premises is Avain Yhtiöt. A. Ahlström Real Estate manages the real estate and forest assets of A. Ahlström Oy. Avain Yhtiöt is a Finnish housing provider specialising in developing, constructing, and managing residential properties and housing services. Under the Avain Asunnot brand, Avain Yhtiöt and Avain Asumisoikeus own over 12,000 rental, right-of-occupancy, and service housing units across Finland.

OP Corporate Bank – Real estate financing arrangement

We advised OP Corporate Bank plc in a real estate financing arrangement relating to DHL Express logistics centre under construction near Helsinki Airport. In the arrangement Nrep (acting on behalf of NSF III Fund) and Pontos Group acquired Finavia’s stake of DHL Express logistics centre under construction. LEED Platinum certification will be applied for the project, and as a result of the certification, the facility is contemplated to qualify as a green loan after the construction completion date.

Gasum – Chartering a new bunker vessel

We advised Gasum in chartering a new LNG and bio-LNG bunker vessel. The vessel called Celsius will serve Gasum’s customers starting 2027. The investment is part of Gasum’s strategy to secure the availability of LNG and bio-LNG to its customers in the Northwestern European area as demand increases in the coming years. Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and energy market expert services for industry and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport. The company helps its customers to reduce their own carbon footprint as well as that of their customers. Sirius is a Swedish shipping company founded by the Backman family. Sirius operates 11 product/chemical tankers and 2 LNG tankers and has a further 3 product/chemical tankers under commercial management.

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