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.

Efima – Sale of financial management services business

We advised Efima Oyj on the sale of its financial management services business to Rantalainen as part of its strategic focus on fully concentrating on the delivery of business applications as well as data and AI solutions. As a result of the transaction, customer contracts related to financial management services and 65 experts working in these services will transfer to Rantalainen. The transaction will be carried out as a transfer of business, and the experts will move to the new owner as existing employees. Efima is a Finnish digital company that supports the sustainable growth of large and mid-sized companies by streamlining their business processes and by creating competitive advantage through the innovative use of artificial intelligence and data. The company has nearly 200 experts based in Helsinki and Tampere.

Ugly Duckling Ventures – EUR 6.5 million funding round of Skyfora

We advised lead investor Ugly Duckling Ventures on the EUR 6.5 million funding round of Skyfora. The round also included Eviny Ventures, LUMO Labs and EIC Fund, alongside non-dilutive funding from Business Finland. The investment will support the commercial scale-up of Skyfora’s weather intelligence solutions, the expansion of partnerships with telecom operators, forecasting providers and meteorological institutions, and the continued growth of the team. Skyfora is a Finnish company developing high-resolution weather data solutions using patented technology that extracts atmospheric data from GNSS receivers embedded in existing infrastructure, such as telecom networks. By unlocking previously untapped data sources, Skyfora enables the next generation of AI-driven weather forecasting and supports improved decision-making across weather-sensitive industries. Ugly Duckling Ventures is a Copenhagen-based venture capital firm focused on early-stage Nordic B2B technology companies, with an emphasis on medtech, resilience tech and business services.

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