Transactions in the Financial Sector

Transactions in the Financial Sector

Transactions in the financial sector always require special expertise. A successful execution calls for an advisor with a deep understanding of both corporate transactions and the business models of regulated entities.

Our unique ability to assist with strategic regulatory matters enables regulated entities to structure their operations in a way that meets both commercial objectives and regulatory obligations. We help clients identify potential regulatory risks early on and plan the transaction process from a regulatory perspective to ensure an efficient completion.

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

The Mortgage Society of Finland – Update of EUR 2,5 billion bond programme

We advised The Mortgage Society of Finland in the update of a EUR 2,5 billion bond programme under which the Mortgage Society of Finland may issue senior preferred and unsecured Tier 2 notes, and covered bonds. The notes under the programme may be listed on the official list of Nasdaq Helsinki Ltd. The Mortgage Society of Finland is the only nationwide credit institution in Finland that focuses on housing. It provides customers with the full range of home financing services such as granting mortgage and consumer loans for all stages of home owning including purchasing and renovating. The Mortgage Society of Finland carries out this activity in accordance with the Act on Credit Institutions and the Act on Mortgage Societies.

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.

Nala Renewables – Development, acquisition and financing of battery energy storage system (BESS) project

We advised Nala Renewables on the Finnish law aspects of the development, acquisition and financing of its battery energy storage system (BESS) project in Vuolijoki, Finland. The project comprises a 125 MW / 250 MWh battery energy storage system. Our advice extended beyond financing to the transaction’s legal due diligence and the acquisition of the project company. We also advised on key project contracts and financing documentation for the project finance facilities provided by Coöperatieve Rabobank U.A. The project is part of Nala Renewables’ growing portfolio of battery storage assets in Finland and the wider Nordic region, supporting the integration of renewable energy and contributing to the flexibility and stability of the Finnish electricity grid.

Foundation Clinic – Funding Round

We advised Foundation Clinic in connection with its funding round backed by a group of prominent Finnish technology entrepreneurs and investors, including founders behind Supercell and Wolt. Foundation Clinic is a Finnish healthcare company developing a new approach to private healthcare focused on preventive, data-driven and continuous care. The company aims to combine comprehensive health data with ongoing medical care to identify and address health risks at an early stage.

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