Hannes Snellman Counsel to YIT Corporation in a JV with Etera, Onvest and Fennia concerning Mall of Tripla Project
22 June 2016
YIT Corporation, Etera Mutual Pension Insurance Company, Onvest Oy, and Fennia Mutual Insurance Company completed on 22 June 2016 a transaction under which the parties created a joint venture for the implementation of the Mall of Tripla and its parking facilities. A consortium consisting of the European Investment Bank (EIB), the Nordic Investment Bank (NIB), Danske Bank, and Handelsbanken granted the project 10-year project credits amounting to a total of approximately EUR 300 million, which will finance half of the construction of the Mall of Tripla. The overall value of the shopping mall and the parking facility is approximately EUR 600 million, including the cost for design, plot, and financing. YIT’s share in the joint venture is 38.75%, Etera’s 38.75%, Onvest’s 15%, and Fennia’s 7.5%.
Hannes Snellman acted as legal counsel to YIT Corporation. Our core team comprised of Tapio Teräkivi, Maria Lassenius, Kimmo Heikkinen, Daniel Villarreal, Jussi Ahtola, Tuuli Pikkarainen, and Olli Mäkelä.