We are living in exceptional times in Finland. Our economy is struggling, and we desperately need to find ways to create growth. In addition, our relations with Russia have severely changed and the border between Finland and Russia is closed. We are facing challenges we were not expecting and have come to realise that Finland may no longer be the safe haven it used to be. When the world changes with tectonic force, as a small country we are not always the ones in control. Instead, we must react to global events in a right and timely manner and make the best possible decisions for our country.
22.12.2023
Towards the new
Sakari Lukinmaa
Our resolution and ability to stay cool under pressure are put to the test once again. Now is the time to decide how to shape Finnish society and economy so that we may leave them to future generations in a better condition. We must be able to renew and invest in the future, not least because it is good security policy.
While we cannot be overly optimistic about the coming year, it would be a mistake to succumb to pessimism. Inflation is slowing down, and economists predict that the general interest rates will start to decline. This will hopefully unlock and encourage investments. Furthermore, decreasing costs and increasing profitability and appetite for investments will boost the major energy transition.
December marks the end to Castrén & Snellman’s 135th anniversary, which has been a welcome respite amid the world’s turbulence. We, too, at C&S are tasked with finding ways to increase efficiency and to provide smarter and more sustainable solutions to our clients. AI and its many applications are important tools in achieving this.
Finland has a long history of overcoming challenges, and I have no doubt it can do so once again. Creating growth and productivity is down to all of us. We at Castrén & Snellman wish to be involved in shaping our society and to do our part by helping our clients succeed in the changing world.
I’d like to thank our clients, stakeholders and employees for the past year and wish you courage and success for 2024!
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Latest references
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.
Case published 18.3.2025
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.
Case published 12.3.2025
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.
Case published 11.3.2025
eBrands – Funding round
We assisted eBrands Holdings Oy in its latest funding round, during which the company raised 7.5 million euros. The new funding brings the company’s total raised capital to 50 million euros. The latest funding round was mainly led by the family investment company Veikko Laine, Varma Pension Fund, and operational shareholders. The funding will be used to develop eBrands’ AI-based Apollo market growth tool, which helps brands expand into sixty different markets and sales channels without local infrastructure or heavy investments. eBrands is an export platform that grows consumer brands globally through e-commerce and major retail channels. Specializing in the US and European markets, eBrands enables brands to internationalize with an export service model that reduces the risk and complexity associated with expansion by leveraging advanced technology. Founded in 2020, the Helsinki-based company’s team includes 75 people, and the company’s revenue exceeds 35 million euros.
Case published 11.3.2025