Parties:

Prime Minister’s Office, Finnair Plc

Transaction:

Hannes Snellman acted as counsel to the Prime Minister’s Office in the rights offering of Finnair Plc, the Finnish airline with the State of Finland being the majority owner. Hannes Snellman advised, among other, on the share subscription made by the State of Finland by way of offsetting, in part, a capital loan provided by the State of Finland to Finnair, and related state-aid law matters. The rights offering of EUR 570 million is one of the largest rights offerings in Finland in recent years.

Deal value:

Approximately EUR 570 million

Role:

Counsel to Prime Minister’s Office

Parties:

Kemppi Group Oy, Kempower Corporation

Transaction:

Counsel to Kemppi Group Oy, the majority owner of Kempower Corporation, in the placing of 3.4 million shares in Kempower Corporation

Deal value:

EUR 102 million

Role:

Counsel to Kemppi Group Oy

Hannes Snellman advises NYAB Plc on its re-domiciliation and transfer of listing from Finland to Sweden. The re-domiciliation to Sweden is planned to be executed as a cross-border conversion, pursuant to the so-called EU Mobility Directive, whereby NYAB Plc, without being dissolved or liquidated, would be converted from a Finnish to a Swedish public limited liability company with its registered office in Sweden.

Parties:

Terveystalo Plc

Transaction: 

Counsel to Terveystalo Plc, a healthcare service provider listed on Nasdaq Helsinki, in the issue and listing of senior unsecured sustainability-linked notes. 

Value:

EUR 100 million

Role:

Counsel to Terveystalo Plc

Parties:

Sanoma Corporation, Nordea Bank Abp

Transaction: 

Counsel to Sanoma Corporation, a K12 learning service provider and cross-media company listed on Nasdaq Helsinki, in the issuance and listing of hybrid capital securities in the amount of EUR 150 million. Nordea Bank Abp acted as lead manager in the issue of the capital securities.

Value:

EUR 150 million

Role:

Counsel to Sanoma Corporation

Parties: 

Eltel AB

Transaction:

Eltel AB’s EUR 25 million issue and listing of sustainability - linked hybrid capital securitie

Deal value:

EUR 25 million

Role:

Counsel to Eltel AB

Parties

Citycon Oyj

Transaction

Counsel to Citycon Oyj in its tender offers of outstanding notes due 2024 of Citycon Treasury B.V. and capital securities issued by it in November 2019 and June 2021.

Deal value

Over EUR 40 million

Role

Counsel to Citycon Oyj

Parties

Sampo plc

Transaction

Counsel to Sampo plc on its dual listing of its Class A shares on Nasdaq Stockholm in the form of Swedish Depository Receipts

Deal Value

Market capitalisation of approximately EUR 24.7 billion as of 31 October 2022

Role

Counsel to Sampo plc

Counsel to F-Secure on its spin-off and listing on Nasdaq Helsinki.

Parties:

Cargotec Corporation, Konecranes Plc

Transaction:

The announced, but subsequently abandoned, merger of Cargotec and Konecranes in 2021-2022

Deal value:

Approx. EUR 2.7 billion

Role:

Counsel to Konecranes Plc

Parties

Viking Line Abp

Transaction

Counsel to Viking Line Abp on its EUR 51.8 million issue of new shares with pre-emptive rights for existing shareholders.

Deal Value

EUR 51.8 million

Role

Counsel to Viking Line Abp

Parties

Citycon Oyj

Transaction

Citycon Oyj’s repurchase of a total amount of 9,500,000 own shares for a total purchase price of EUR 65.8 million as a result of a market based reverse accelerated bookbuild process

Deal Value

EUR 65.8 million

Role

Counsel to Citycon Oyj

Parties

Altia Plc, Arcus ASA

Transaction

Merger of Altia Plc and Arcus ASA to form Anora Group

Deal value

Preliminary aggregated annual revenue EUR 640 million

Role

Lead counsel to Altia Plc

Parties 

Virala Acquisition Company Plc, Purmo Group Ltd

Transaction 

Virala Acquisition Company Plc's merger with Purmo Group Ltd.

Deal Value 

EUR 685 million

Role

Counsel to Virala Acquisition Company Plc

Parties

Valmet, Neles

Transaction

Hannes Snellman acted as lead counsel to Valmet, a leading global developer and supplier of process technologies, automation, and services for the pulp, paper, and energy industries, in its merger with Neles, one of the leading providers of mission-critical flow control solutions and services for process industries in Finland. 

Deal Value

The combined value of the merging companies is approximately EUR 7 billion.

Role

Lead counsel to Valmet

Parties

Virala Acquisition Company Plc

Transaction

Hannes Snellman acted as legal counsel to Virala Acquisition Company Plc on its IPO and the listing of its Class C shares on the SPAC segment of the regulated market of Nasdaq Helsinki

Deal Value

EUR 107.5 million

Role

Counsel to Virala Acquisition Company Plc

Parties

PPG Industries, Inc. (Bidder), Tikkurila Oyj (Target)

Transaction

Recommended public cash tender offer for all of the shares in Tikkurila by PPG Industries, Inc.

Deal Value

EUR 1.5 billion

Role

Counsel to Tikkurila Oyj

Parties

Vaaka Partners (Seller)

Transaction

Vaaka Partners' sale of their shares held in Musti Group Plc through an accelerated book-building process.

Deal Value

Value not public

Role

Counsel to Vaaka Partners

Comprehensive advice on the state aid law for the Prime Minister’s Office concerning the recapitalisation (rights offering) of the state-controlled airline Finnair Plc, including advise on the notification procedure before the European Commission. The rights offering of 500 MEUR is one of the largest rights offerings in Finland in recent years. The Commission’s decision in the case lead to amendments to the COVID-19 related State Aid Temporary Framework.

Parties

Optomed Plc

Transaction

Optomed’s IPO and listing on the Nasdaq Helsinki stock exchange

Deal Value

The offering by the company and its shareholders amounted to approximately EUR 44 million

Role

Counsel to Optomed Plc 

Parties

Glaston Corporation

Transaction

Rights issue in Glaston Corporation

Deal Value

EUR 34 million

Role

Counsel to Glaston Corporation

Parties

Cramo Plc, Adapteo Plc

Transaction

Cramo’s partial demerger and listing of Adapteo on Nasdaq Stockholm

Deal Value

SEK 5.5 billion

Role

Counsel to Cramo Plc and Adapteo Plc

Parties

Ahlstrom-Munksjö

Transaction

Ahlstrom-Munksjö's EUR 150 million rights issue to partly finance the acquisition of Expera Specialty Solutions

Deal Value

EUR 150 million

Role

Counsel to Ahlstrom-Munksjö

Parties

The State of Finland (seller), Altia Plc (target)

Transaction

Altia Plc’s IPO and listing on the official list of Nasdaq Helsinki

Deal Value

Over EUR 270 million

Role

Counsel to Altia Plc

Parties

Suomen Terveystalo Oy

Transaction

Terveystalo’s IPO and listing on the Nasdaq Helsinki stock exchange

Deal Value

The offering by the company and its shareholders was over EUR 870 million and the Company’s market value was over EUR 1.2 billion

Role

Counsel to Terveystalo

Parties

Acorda Therapeutics (Bidder), Biotie Therapies (Target)

Transaction

Acorda Therapeutics' public tender offer of the shares and other securities in Biotie Therapies

Deal Value

USD 363 million

Role

Counsel to Biotie Therapies Corp.

Parties

Faron Pharmaceuticals Ltd

Transaction

Faron Pharmaceuticals Ltd's IPO and listing on the AIM market of the London Stock Exchange as well as the preceding fundraising of approx. GBP 10 million

Deal Value

Approx. GBP 10 million

Role

Counsel to Faron Pharmaceuticals Ltd

Parties

Biotie Therapies Corp.

Transaction

Public offering and listing of Biotie Therapies Corp.’s shares on the NASDAQ Global Select Market New York

Deal Value

Approx. EUR 83 million

Role

Counsel to Biotie Therapies Corp.

Parties

Robit Plc & Skandinaviska Enskilda Banken (publ.), Helsinki Branch

Transaction

Counsel to lead manager SEB (publ.) Helsinki branch in the Robit Plc’s IPO and listing on the First North Finland

Deal Value

EUR 48 million

Role

Counsel to the Lead Manager, Skandinaviska Enskilda Banken (publ.), Helsinki Branch

Parties

Asiakastieto Group Plc

Transaction

Asiakastieto Group Plc’s IPO and listing on the Helsinki Stock Exchange

Deal Value

Approx. EUR 170 million

Role

Counsel to Asiakastieto Group Plc

• Ranked Tier 2
• "Team is both competent and fast in execution."
• "Clear in communication, firm opinions. Provide the necessary support needed in complex situations."
• "Very experienced team, one of the market leaders."
• "They are thorough, fast and accurate with good judgment and good relationships with other counsel. Very respected office."
• "They come up with creative solutions where others are stuck, and don’t get phased by new situations. Solution-oriented, commercial, and fast."
• "The team is very knowledgeable and with wide resources. Everything is just so smooth and professional."

• Ranked in Band 2

Capital Markets

• "High level of enthusiasm for engaging and seeing where they can assist. Really responsive without being overbearing. Good mixture of legal analysis and common sense helping to move through issues at an effective rate."
• "Extensive legal expertise, fit for large-scale transactions, ability to work in fast-phased projects and deliver on time."
• "Practical and to-the-point advice."
• "Hannes Snellman are quick, reliable and very easy to work with. Each individual on the team is knowledgeable and I feel we get very good value for money."
• "Overall capabilities in conducting complicated projects."

Debt

• "Short response time and delivers quality."

Equity

• "Provided solid, competent advice in a professional and timely manner and without complicating the process."
• "Always available, great coordination and communication. Good knowledge of the substance."

• 'Klaus Ilmonen is described as a "very well-respected, skilful and experienced capital markets lawyer." His expertise covers rights offerings and listings, where he advises corporates and state entities.'
• 'Sonja Siggberg advises on a variety of capital markets transactions including accelerated bookbuilding and notes issuances. Clients also benefit from her expertise in M&A projects including public tender offers. "She is technically good," remark interviewees.'

• 'Klaus Ilmonen... is recognised by sources for being a "technically very able lawyer with experience in many different types of transactions." He focuses his practice on ECM matters, including IPOs, share listings and rights issues.'
• 'Sonja Siggberg... "is very proactive, hands-on and always makes me feel like I receive very practical advice which allows me to move forward," says a client. She is well known for her ECM practice, being particularly active in listings.'

• One feature of Hannes Snellman’s ECM practice that stands out is its breadth and depth of experience. They have been around the block and as a client you know.

• '"They go above and beyond for the client."'
• 'Another interviewee highlights the team's "experienced IPO lawyers" for their "highly efficient approach, providing relevant advice when needed in a no-fuss manner."'

• "Their biggest strength is that they deliver consistently high quality. You can expect everything to be in order, and they are strong across the board."

• 'Clients report that the team "has a way of helping the client in a broad sense, and also of working seamlessly with other advisers."'
• 'Sources describe the lawyers as "technically astute," adding: "They were excellent at creating new processes from scratch."'

• 'Partner Sören Lindström "has extensive transaction experience, a deep knowledge of Swedish takeover regulations and quickly responds to the customer's needs."'

• 'Hannes Snellman’s ‘efficient’ capital markets department provides ‘in-depth knowledge’ and ‘exceptional value for money.’

• ‘The "experienced" Sören Lindström offers considerable equity capital markets expertise, advising clients on a broad range of transactions. He recently acted on Solidium's SEK5 billion rights issue.‘
• ‘Christoffer Saidac assists clients with corporate finance and public M&A mandates. He is well regarded for advising financial institutions on equity capital markets transactions as well as financial regulatory matters.’

• 'Clients appreciate that the firm has "the ability to see the big picture while solving major challenges in the course of a transaction. They really focus on the main issues in drafting."'
• 'Other sources agree that the firm has "one of the top teams in Finland" in this area.'
• 'Sources say that Klaus Ilmonen is "responsive, pragmatic and easy to work with. He is also extremely experienced and knowledgeable so he really ticks all the boxes." One interviewee enthuses: "Klaus is a clear professional in all aspects: technical knowledge, commercial awareness, effectiveness and client service."'
• 'Sonja Siggberg has notable experience...Sources say that she is "a skilled capital markets lawyer," adding: "She is proactive and has a good, client-friendly approach."'

• 'One client describes the team as "excellent," adding that "they have been really helpful, practical and pragmatic in their approach to things."'
• 'Other sources felt the firm was "pivotal in supporting a transaction and did a marvellous job. The team as a whole is high-class."'
• 'Sources appreciate that "the team stands out for its work with public bids."'
• 'Market commentators repeatedly compliment Sören Lindström's transactional experience and call him "a go-to for public bids in Sweden."’

• 'Hannes Snellman delivers "excellent practical advice backed by strong business acumen."'

• '"The team has a first-class service, is professional, committed easy to work with and flexible, with a good understanding of the wider project."'
• 'Multidisciplinary team handling both domestic and international capital markets transactions. Recent mandates include IPOs, public tender offers, share issues, debt issuances and share buy-backs. Advises on governance issues and regulatory compliance.'

• 'Sören Lindström is recognised for his abilities in equity capital markets, advising clients on a range of mandates. Expertise includes public offers and takeover bids, disposal of shares and IPOs. Recent highlights include advising IP-Only on its EUR63 million public cash offer to the shareholders in Availo. He is also noted for his experience in public M&A and corporate law.'
• 'Christoffer Saidac is praised by market commentators for his technical abilities on capital market transactions. His expertise focuses on equity transactions and public M&A, advising clients on both domestic and cross-border deals. He recently assisted the board of directors of Connecta with its merger with Acando via a public offering. Sources say: "He is experienced, and when he gets involved, he does a good job."'

• 'High-rated team with a comprehensive offering and notable experience of cross-border transactions. "Hannes Snellman has the resources to act in complex transactions." "It is a go-to firm for transactions with an international angle."’
• 'Hannes Snellman leveraged its strong Nordic presence to advise Munksjö Oyj on its listing on Nasdaq OMX Helsinki. The highly regarded Sören Lindström heads the team, which includes fellow equity expert Christoffer Saidac.'
• 'ECM and public M&A expert Sören Lindström heads the team and is highlighted by sources for his shrewd technical ability.'
• 'Christoffer Saidac is described by sources as "an extremely skilled lawyer with broad expertise."'

• ‘Klaus Ilmonen is ‘one of the few experienced lawyers in the Finnish IPO market’.’