Setterwalls is a good bet in the equity capital markets field and trades on a long standing brand in the Swedish market. In the past 12 months it took advantage of small windows to help clients come to market....
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Setterwalls is a good bet in the equity capital markets field and trades on a long standing brand in the Swedish market. In the past 12 months it took advantage of small windows to help clients come to market.
In one such deal, the firm advised mid-cap utilities company Arise Windpower on its listing in early 2010, which marked the first Swedish IPO on the Nasdaq OMX Stockholm of the year. Arise also completed an oversubscribed issue of €60 million in shares, which gave a total market value to the listing of €191 million and drew out institutional investors including Nordea.
Anders Holmgren also advised FinnvedenBulten on its listing on the Nasdaq OMX Stockholm, which started trading in May 2011.
In other deals, Åke Fors led a team to help HQ Bank structure a €109 million guaranteed rights issue to raise funds, but the issue was abandoned when the authorities withdrew the bank's license.
Despite the difficult market conditions, partner Jonas Frii, who had advised on the Arise IPO, closed a good all round deal in February 2011 for a group of foreign investors in SurfKitchen Inc, the UK mobile shell developer, in relation to the disposal of investments to the listed company Teleca.
The firm also regularly advises Sweden's second stock exchange NGM (Nordic Growth Market) Exchange on market surveillance activities.
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Setterwalls has a broad finance bench with niche expertise in areas including shipping and aircraft finance and insurance and banking regulatory. The firm has four former Scandinavian Airlines (SAS) in-house counsel, most recently reinforced by the hire of partner Magnus Eriksson in 2009....
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Setterwalls has a broad finance bench with niche expertise in areas including shipping and aircraft finance and insurance and banking regulatory. The firm has four former Scandinavian Airlines (SAS) in-house counsel, most recently reinforced by the hire of partner Magnus Eriksson in 2009. In 2010 it also hired associate Jesper Kuschel from Mannheimer Swartling.
Many of the Setterwalls' standout deals illustrate an ability to work alongside law firms across a number of European jurisdictions and in this way the team claims some high value financing mandates on behalf of a diverse range of clients.
For example, partner Håkan Fohlin supported Slaughter and May to advise the Icelandic orthopedic company Össur Group on a $231 million loan from ING Bank, SEB and Nordea Bank. The deal then led to the firm being retained by Össur to work with Dutch lead counsel CMS Derks Star Busman in relation to a group restructuring.
In another deal, Fohlin worked with Norwegian firm Schjødt to advise Visma on €662 million multi-currency and term revolving facilities agreement with DnB NOR Bank to fund growth. Einarsson then partnered up with German lead counsel Hengeler Mueller to advise Phoenix Pharmahandel, Europe's second largest pharmaceutical wholesaler, and its Swedish subsidiary Tamro on a €2.6 billion syndicated loan and €500 million high yield bond issuance.
New recruit Kuschel led on one deal for Logistikfastigheter Fast Food to refinance a portfolio of logistics companies valued at €109 million. The financing party was DnB NOR. The firm also advises clients including the Swedish Central Bank and Export Credit Board, the Fourth Swedish National Pension Fund and SAS.
Åke Fors heads the department.
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Setterwalls is a good bet in all walks of M&A and has lately been winning smart mandates in private equity and private M&A, most notably in industry and high-tech. It is certainly one of the firms to have benefitted from the brief pick-up in the market in the first half of 2011....
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Setterwalls is a good bet in all walks of M&A and has lately been winning smart mandates in private equity and private M&A, most notably in industry and high-tech. It is certainly one of the firms to have benefitted from the brief pick-up in the market in the first half of 2011.
The firm's Gothenburg office especially won a good share of local private M&A. In one such deal, the firm's head of M&A in Gothenburg Anders Holmgren advised Quadracom in January 2011 in its acquisition of all shares in Swedish broadband company Zitius to become the country's largest fiber-based broadband operator.
In another, Dag Fredlund led a team to act for SKF Sverige on the sale of its cage production in Gothenburg to Japonese manufacturer Nakanishi Metal Works.
Out of Stockholm, Anders Söderlind worked with French firm Brandford-Griffith & Associés to advise Arjowiggins on the sale of its subsidiaries Arjowiggins Deutschland and Arjowiggins Arches to Munksjö for €95 million. This deal was closed in March 2011.
One of the firm's highest profile deals however (high profile for the being in the high-tech software sector) came at the close of 2010. Jonas Frii and Marcus Winqvist advised The Astonishing Tribe (TAT) on an agreement with Research in Motion (RIM) which will allow both companies to expand and tackle the market for the PlayBook tablet and in BlackBerry smart phones.
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