D&I Transaction Powerhouse Deal Announcement

Continued High Activity Level in H1/2023 for D&I Transaction Powerhouse

Challenging market conditions have continued to impact M&A activity in Finland and globally in 2023. Despite the modest number of announced deals on the Finnish market, especially outside the energy and infrastructure space, D&I’s Transaction Powerhouse experienced in H1/2023 activity levels on par with the firm’s record year 2021.

Similarly to 2022, volatile market conditions continued to cause challenges in getting deals done during H1/2023. Many deals have been delayed or postponed and this trend is set to continue into H2/2023, in particular due to the challenging financing environment. Possibly owing to the modest number of deals signed, regulatory challenges have so far not dominated the M&A scene in 2023 contrary to our earlier predictions.

Going into H2/2023, we look forward to co-operating with our clients and helping them navigate the challenging market conditions.

D&I is the go-to law firm for many sophisticated market players when it comes to large and complex deals in, into and out of Finland, the Nordics and the Baltics.

Read more about our recent D&I highlight deals:

Disposal of parts of Handelsbanken’s Finnish operations

We advise Handelsbanken in the disposal of its private, SME and life insurance operations in Finland to S-Bank, Oma Savings Bank and Fennia Life Insurance Company. The private customer, asset management and investment services operations are to be sold to S-Bank, the small and medium-sized enterprise operations to Oma Savings Bank and the life insurance operations to Fennia Life Insurance Company.

Sale of Enerim’s Wholesale Markets business

We advised Enerim, a leading Finnish service and SaaS solution provider for the energy sector backed by KLAR Partners, on the sale of Enerim’s Wholesale Markets business to Volue ASA.

Sale of MPY Telecom Oyj to Infranode

We advise MPY Osuuskunta on the sale of MPY Telecom Oyj, a leading telecommunications operator and infrastructure owner in Eastern Finland, with an extensive asset portfolio including fiber and coaxial networks and more than one hundred telecom towers, to Infranode.

Acquisition of Haminan Kaasuverkko Oy and gas customer portfolio by Auris Energia group

We advised Auris Energia on its acquisition of Haminan Kaasuverkko Oy, a gas distribution company, and a gas customer portfolio from Haminan Energia.

Investment by Mirova in Norsepower

We advised Mirova as the lead investor, through its impact private equity fund Mirova Environment Acceleration Capital, in the EUR 28 million financing round in Norsepower, the leading global provider of mechanical sails for large ships.

Investment by EAB in Elcoline

We advised lead investor EAB Private Equity, part of Finnish listed fund management company Evli, in its equity investment in Elcoline, a Nordic growth company specializing in industrial maintenance and service.

Acquisition by Arise AB (publ) of majority stake in Pohjan Voima Oy

We advised Arise AB (publ), one of Sweden’s leading independent companies in renewable energy, in entering into a strategic partnership with Pohjan Voima Oy, a Finnish onshore wind and solar company, whereby Arise has agreed to acquire 51% controlling interest in Pohjan Voima Oy.

Investment in Finnish offshore wind development portfolio

We advised Ingka Investments, the investment arm of Ingka Group, on the Finnish law aspects of its investment in three offshore wind development projects in Finland. Pursuant to the investment, Ingka Investments will acquire a 49 % ownership stake in the projects from the leading Nordic renewable energy developer OX2.

Acquisition of Welado by MB Funds

We advised MB Funds on the acquisition of Welado, a Finland based infrastructure consulting firm, providing project management and construction development services for the built environment, from its current shareholders. Welado has over 300 experts working in Finland and Sweden.

Acquisition by Crédit Agricole Consumer Finance and Stellantis of operations from ALD and LeasePlan

We act as Finnish counsel to Crédit Agricole Consumer Finance and Stellantis on their acquisition of ALD’s and LeasePlan’s operations in six European countries.

 

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