Finland

Reviews

Practice area

IFLR1000 Reviews

Overview

Solicitors governing body: Suomen Asianajajaliitto

Competition authority: kilpailu- ja kuluttajavirasto

Financial regulator: Finanssivalvonta

IFLR1000 ranking categories for this jurisdiction:

Energy and infrastructure (published June) – Energy and infrastructure

Financial and corporate (published October) – Banking and finance, Capital markets, M&A

Jurisdiction overview

The smallest of the continental Nordic countries – both in population and economically – and the most sparsely-populated country in the EU, Finland is a civil law-governed market with a well-developed legal sector. 

Though it lags slightly behind its North European neighbours in many indices it is still regarded as one of the most transparent, least corrupt and well-developed countries in the world. In terms of ease of doing business, it consistently ranks comfortably above such European powerhouses as Germany and France while GDP per capita is roughly the same as that in France and the UK. In terms of openness and transparency, it is routinely considered to be above neighbours Sweden and Norway and among the very best in the world.

The economy itself is a fairly dynamic and sophisticated one, albeit only mid-sized in the context of Europe. However, with a population of just under 5.5 million this means it punches above its weight financially. Mining and forestry, the country’s traditional industries, remain important parts of the economy but there has been a sea change in the market. While both have struggled in recent years the electronics – and in particular gaming – industry has become increasingly important. Helsinki is considered a global capital for mobile gaming and is increasingly recognised as one of the more important tech hubs in Europe.

The legal market, much like the economy, is a mixed bag. In contrast to some of its Nordic cousins, there is far more representation from regional and international firms on the ground here. Almost universally they are confined to Helsinki, though there are some with regional offices as well. While the most successful practices are a mix of domestic, regional – usually with a sister practice in Stockholm – and international names, there are a number of smaller domestic teams making an increasing impact on the market.

Many lawyers would argue the government could do more to encourage investment but there is also a sense that the regulators and legal professionals are moving in the same direction. Considered a safe bet for inward investment, there is a lot of interest in Finnish companies and so a sophisticated legal market has developed in parallel to this. Lawyers tend to be relatively specialised with a few specific experts dotted among the community. They will normally have a strong focus on one particular area but at the same time have extensive experience in related fields; e.g. corporate lawyers who also do notable equity capital markets and public takeover work. Really focused specialists do appear, however, and are increasingly active, though the size of the market means complex matters, like detailed structured finance deals, are relatively rare and subsequently the experience of working on such deals is equally sparse.

Jonathan Moore – Journalist - EMEA

Financial and corporate
Avance

Since its launch in 2011, Avance has quickly grown into a top-tier firm in M&A, with a reputation for handling demanding transactional work. The firm has a high partner-to-associate ratio for a prominent firm. Avance has strength in sectors such as energy and infrastructure, financial services and real estate.

In the banking and finance area, the firm was active in acting on bond programs and syndicated credit facilities. A notable deal in the real estate sector included advising Kielo on its financing arrangements for its planned acquisitions of office property portfolios located in Jyväskylä and Tampere.

On the equity side of the firm’s capital markets work, a standout deal saw the firm represent gaming firm, Next Games, on its IPO and listing on Nasdaq First North Helsinki. The firm also attracted notable work from clients including Rettig Group and Terex.

In M&A, the firm was involved in private equity and strategic deals. A few of the highlights were advising CVC Capital Partners in connection with the exit of Paroc and acting for Bridgepoint when it acquired Evac.

The firm rises to tier one in the banking and finance rankings.

Goldman Sachs, Fortum and Realia Group are other key clients for Avance.

Client feedback

“It has a high-quality and experienced team in the energy sector. It is number one in customer service in Finland; walking the talk of being a partner for the customer.” – Banking, capital markets, M&A, project development

“Avance is simply top-notch in transactions work.” – M&A

“I'm extremely pleased with its work. The senior partner was easily accessible and very involved throughout the whole process. Enough dedicated resources were allocated to our disposal, and the strong business acumen among Avance's people enabled smoother and efficient negotiations and thereby a faster and more positive close of the deal.” – M&A

“The firm provides high-quality service which is strongly partner led. This results in high quality work which is its key strength together with its professionalism.” – M&A

Ulf-Henrik Kull

“Extremely positive experience, always accessible and involved throughout the whole process. Professionally very knowledgeable. Very good person to have on your side during negotiations.”

Mathias Lindqvist

“Among the strongest partners, cannot name anyone who I would prefer to work with more.”

Selinda Näse

“Excellent banking lawyer, with a good grip of the market.”

Ilkka Perheentupa

“Highly knowledgeable in the customer's business and strategically important legal aspects. Number one in customer-orientation in Finland. Very flexible and always delivers excellent results.”

Erkki-Antti Sadinmaa

“Innovative and efficient.”

Henrikki Tahkokallio

“By far the best senior associate I have worked with.”

Bird & Bird

The Helsinki office of Bird & Bird is recognised for its work in the banking and M&A spaces. 

In the banking and finance area the firm has worked on matters in sectors insurance and real estate. Notably, the team acted for real estate investment group, NREP, on various financing matters.

One notable matter that the M&A team advised on recently, saw it acting for Elisa on the acquisition of the Estonian and Finnish operations of data provider Santa Monica Networks.

A notable staffing change during the research period saw M&A specialist Matti Ylä-Mononen depart to join DLA Piper.

Other recent clients of the firm have included Basware Corporation, OpusCapita and electric solutions company, Visedo.

Borenius

Borenius is one of Finland’s leading firms for all areas of financial, corporate and project development advice. 

In the banking area, the firm advised on various large syndicated loans. Highlights included advising the arrangers on the refinancing of Mercada, and on the acquisition financing of the Lemminkäinen-YIT merger. During the research period, an influx of financial regulation work prompted the firm to create a new team to focus on regulatory matters.

In the capital markets practice, the firm worked on a large volume of high-valued debt and equity deals. Advising the joint global co-ordinators on the IPO of Terveystalo, for example..

The M&A team has historically been a leader in the private equity and venture capital space in Finland, attracting high-value work. Highlights include advising Runtech on its share capital sale to Gardner Denver and PKC Group on a public tender offer.

The projects team has been working on a range of predominantly energy-related deals across the region, working on ventures including a heat generation business and an off-shore wind farm.

Staffing changes include the arrival of counsels Mikko Heinonen and Jorma Yli-Jaakkola to the firm’s capital markets team from Roschier and Euroclear Finland, respectively. On the other side, banking partner Johannes Ahti departed to, Roschier. Likewise, Leo Lagerstam left the restructuring and insolvency team to move to Attorneys Facta.

With satellite offices in New York and St Petersburg, the firm works with prominent international clients including Morgan Stanley, Rolls-Royce, and Yamaha.

Client feedback

“It has a good understanding of the customer's business and needs.” – Banking

“Very high level co-operation and legal skills.” – Banking, restructuring and insolvency

“It provides very good services to the client in a very fast way and always with a very good business view.” – Capital markets, M&A

“High level expertise on all services it has provided; fast response time; and proactive communication and problem solving.” – M&A

“Strong local presence, always-on functionality, and an energetic team.” – M&A

“Borenius Attorneys provides outstanding quality of legal advice in all areas of insolvency law. It always takes a practical approach, even though the legal matter is really complicated.” – Restructuring and insolvency

“It's flexible and provides high quality service in all respects.” – Restructuring and insolvency

Markku Lehtola

“High level experience and legal skills.”

Robert Peldán

“He is very effective and possesses an outstanding knowledge with respect to bankruptcy and restructuring processes. His commercial understanding is remarkable.”

“Promising youngster.”

Johannes Piha

“Very strong lawyer who provides excellent advice and helps clients to judge business situations.”

Jyrki Tähtinen

“Has a strong relationship network, and is always helpful.”

“Proactive, very experienced and very good at dealing with customers board members and senior management.”

“Very good understanding of customer's needs. Excellent negotiation skills.”

“Very professional with a high level of legal and business skills.”

Castrén & Snellman

Castrén & Snellman, the oldest firm in the country, remains one of the leading firms in the Finnish market, securing top tier spots in all four rankings.

In banking and finance, picked up significant real estate finance work, being a part of deals where it advised OP Corporate Bank and GLL Real Estate Partners.

In the capital markets area, the firm has been among the market’s leaders in dealing with listings, public tender offers and bond issues. The firm acted on some of the market’s notable bond deals, advising Caverion on its hybrid issue, as well as Metsä Board on its bond. In addition, the team acted for software company, Efecte, on its listing to First North Finland, and worked for the bookrunners on the IPO of sauna and spa provider, Harvia.

The firm’s M&A team saw an increase in cross-border work was shown by the firm’s recent highlight, including representing Sponda in connection with the public tender offer of Polar Bidco.

The project team advises on some of the biggest and most challenging projects in the Finnish market, including the Nord Stream 2 pipeline. The firm has active ongoing long-term projects spanning the energy, infrastructure, mining and oil and gas sectors.

The team welcomed back Tuomas Honkinen as a counsel in the firm’s private equity team, two years after he had left the firm to become a partner at Dottir Attorneys. On the other side, the firm lost significant experience as M&A partner Jan Kuhlefelt announced his retirement, and banking partner Pekka Lehtinen exited after 23 years at the firm. Finance counsel Jonne Järvi also moved to Roschier to take up a role as a partner.

Danske Bank, Nordea and the Mortgage Society of Finland are among the firm’s other notable clients.

Client feedback

“It's efficient with wide proficiency, thorough, provides comprehensible answers, and has friendly and professional staff.” – M&A

“Very satisfactory and competent work.” – M&A, project development

“Straight forward, practical approach, immediate attention to customer needs, strong brand, with diversity issues taken into account (gender equality).” – M&A, project finance

“Very responsive and has a deep knowledge of local energy law.” – Project development

Carola Lindholm

“Excellent grasp of essential matters and points to be focused on. Excellent knowledge of M&A best practices.”

Miika Pinomaa

“Very competent and has deep industry insight.”

Pauliina Tenhunen

“Efficient, with a wide proficiency. Provides thorough, comprehensible answers. Very friendly and easily approachable.”

Matias Wallgren

“Deep knowledge of local energy law.”

“Excellent knowledge in the field of environmental law and related matters and exceptional skills in applying it to practice, often providing innovative solutions.”

Dittmar & Indrenius

Dittmar & Indrenius has a broad team that has strength across the financial and corporate, but is probably known best for its significant experience in cross-border work.

In banking and finance, the firm has been active in acquisition and project financing, with a particular focus on energy, fintech and infrastructure. Notably, the team played a key role in advising Macquarie Infrastructure and Real Assets (MIRA), Allianz Capital Partners and the Finnish State Pension Fund in the financing of its acquisition of electricity distributor Elenia. 

In the capital markets area, the firm has worked on several international projects with a mix of debt and equity side mandates. 

In M&A, the firm worked on large cross-border deals, =for companies and private equity. Standout deals included advising Swedish business agency, UC, in its combination with Finnish competitor, Asiakastieto Group.

In the projects space, the team picked up work advising on the acquisition of a gas retail business and on the financing of a thermal power investment.

At a senior level, the firm lost finance and capital markets partner, Raija-Leena Ojanen, who left to take up a role at the conservation organisation, WWF Finland.

GlaxoSmithKline, HSBC and Ikea are some of the firm’s other key clients.

Client feedback

“It's a hands-on firm that is quick and diligent. A pleasure to work with.” – Banking

“We are satisfied with its work. The advice related to regulatory framework and rather complex questions. The firm were up to date with the regulatory framework and provided its advice in a timely manner on short notice. It also proved to have good connections to the regulator which was helpful.” – Banking

“It's a great firm that stands out for consistent quality. The firm is extremely reliable and always delivers.” – Banking, M&A

“The firm provides the highest level of service and quality, and is very dedicated to the client and the transaction. It is very commercial minded with a good understanding of clients' needs.” – Banking, M&A, project finance

“Dittmar & Indrenius were engaged as our local counsel on a Finnish credit card securitisation transaction. It has high standards—and technical and legal strengths aside—were always available on weekends and into the late hours to help bring the transaction to a close. The firm were really knowledgeable and helpful with specific local law issues.” – Capital markets

“Solid work, pragmatic approach, and good commercial understanding.” – M&A

“Strong knowledge within its field of expertise and up-to-date market information. Nice to work with.” – M&A

“The team we worked with were very professional. It saved us from many difficult situations during our M&A process.” – M&A

“State of the art legal advice, very responsive, special expertise in many business sectors - we most recently worked with them in an energy project.” – M&A, project development

“The firm has excellent competence and advice in public tender offer situations throughout the entire sales process. It has integrity, experience and a great sense of deal dynamics. Its competent and skillful team is led by a distinguished and trusted managing partner.” – Project development

Johan Åkermarck

“Top M&A and finance lawyer.”

Anders Carlberg

“Experienced, knowledgeable, trustworthy, and supportive. Creative, solutions-oriented, has high integrity and excellent interpersonal skills.”

“Smooth and savvy. Has a very pragmatic and commercial approach, without compromising on quality and integrity.”

“Very committed, top of his class.”

Mikko Eerola

“Strong M&A skills set and has access to up-to-date market information. Nice person to deal with.”

“Top energy lawyer.”

“Very commercial approach and thinking, very transaction focused and smoothly handles the process. Excellent level of service.”

Hanna-Mari Manninen

“Her and her team were extremely helpful on a securitisation transaction. They take a more conservative view and reading of the law, which in our case was good for the protection of interests of our clients.”

Juha-Pekka Mutanen

“Nice to work with, efficient and practical. He helps you to close the deal.”

Jan Ollila

“Extremely professional and a very polite person, whom it was very pleasant to work with.”

“Very good commercial understanding. Pragmatic and solution oriented. Strong legal skills. Good adviser.”

Hannes Snellman

Hannes Snellman has strength across the financial and corporate but is best known for its work in the banking and M&A areas.

In banking, the firm regularly represents both lenders and borrowers on matters including acquisition finance, loan agreements and IPO refinancings. The team is also very strong within real estate and project financings, recently assisting property fund, Tapiola KR III, on financing the development of the Ainoa Shopping Centre.

During the research period, the capital markets team regularly dealt with complex securities transactions, including multi-jurisdictional offerings, and offerings in the context of corporate transactions, such as statutory mergers and demergers. A notable deal included representing Lemminkäinen Corporation in its statutory merger with YIT Corporation.

In M&A, the firm has been active across a range of different sectors including energy, financial services and healthcare, while advising the likes of Sampo and Orion Corporation. A standout deal was the firm’s work for Ahlstrom on its merger with Munksjö, creating a global leader in sustainable fiber-based solutions.

Staff changes include the addition of former Chapman Tripp counsel, Sanna Boow, to its finance team from New Zealand. On the other side, the firm lost Maria Neovius, who started an independent practise, while counsel Jussi Ahtola departed to work with the European Investment Bank.

Besides those mentioned, other recent clients of the firm include Microsoft and private equity houses EQT and Triton.

Client feedback

“Expertise in finance and security arrangements.” – Banking

“We have been impressed by their availability and constructive negotiation approach as well as in driving deals to closing. They also resource their teams well." – Banking, capital markets, project finance

Antti Alanko

“Up and coming managing associate. He has assisted us independently in complex negotiations very successfully. His availability and commitment is exceptional and he takes care of all the details.”

Markus Bremer

“One of the best in Helsinki, very friendly and constructive.”

“Strengths: Excellent work, wide experience, clever solutions, attitude.”

Riikka Rannikko

“Pragmatic practitioner.”

KallioLaw

KallioLaw is primarily focused on work within the M&A space, where it acts for clients ranging from start-ups to listed international companies.

In the firm’s most prominent M&A deals in the research period, it represented the sellers on their divestments. Notably, it acted for Foriet and its shareholder Dragon Diamond, as it sold its shares to diamond and mineral exploration company, Arctic Star Exploration.

In the projects space, the firm advised developers Rentto on its role in the development of a multi-purpose arena, to be leased to the Hyvinkää municipality.

Other notable recent clients of the firm include real estate developer Capital Five, Cloud Solutions and Picturall.

Krogerus

Krogerus is one of the leading Finnish domestic firms and secures top tier rankings across a range of financial and corporate areas.

In banking, the firm attracted significant work in the real estate sector and generated mandates from several German financial institutions. The project finance team assisted clients in connection with transactions in the energy sector, with another notable deal seeing Krogerus act as the Finnish adviser to arrangers and syndicate lenders in the financing of the acquisition of shares in Evac by private equity group, Bridgepoint. 

The firm has been active in the capital markets area, working largely for the issuer. A highlight public deal was on advising Suomen Hoivatilat on the quickest transfer ever from the First North marketplace to the main list of Nasdaq Helsinki.

In M&A, the firm had a busy year, and was involved in high-value M&A deals in the jurisdiction. As a part of several deals in the healthcare industry, Krogerus notably worked for Attendo’s acquisition of Mikeva and for MB Funds’ investment in Debora.

In the projects space, the firm was involved in market-leading deals in the renewables and PPP sectors, where it worked on several school-building ventures across Finland.

Staffing changes during the research period included the departure of partners Antti Latola and Mirja Latola, who left the restructuring team to join Norra Attorneys.

Some of the firm’s more notable recent clients include Danske Bank and Verdane Capital.

Client feedback

“Krogerus is a prominent address with impressive references. The firm is definitely focused on its clients, always aiming to provide extraordinary excellent services. Working with it always brings good chemistry and outstanding job results for reasonable fees. From experience in cross-border transactions, the team is one of the best to rely on when it comes to cooperation with other law firms in other jurisdictions. The team is very constructive, cooperative and has an open-minded hands-on approach. It is positioned in a very international way, being proficient in foreign languages and jurisdictions (other than Finnish).” – Banking

“The firm has great abilities, and each person has good experience in their core fields with great communication skills.” – Banking

“Overall level of service was very good, in particular at the end of each transaction where it was just in time as we expected. The response time, industry knowledge and appropriateness of advice was good and adequate from day one on.” – Investment funds, project finance

“Practical hands-on advice. Very responsive.” – M&A

“Practical high quality advice. Experienced team providing non-theoretical solutions. Solution oriented.” – M&A

“The M&A team at Krogerus is extremely responsive and makes sure we get top attention for transactions as well as day-to-day corporate work where our clients have needs in Finland.” – M&A

“Very professional legal services firm; flexible and reliable service.” – M&A

“Krogerus has very professional staff and its advice is always very practical. You can forward them straight to the business without a need to clarify things as business people can understand its advice. We have had very good service in every case.” – M&A, project development

“Strong legal skills in assisting with the matter.” – Project development

“Krogerus has a very reliable, skillful and experienced team who have the capability and knowledge to take care of anything a matter can involve. It also has the capacity to move a case forward within time limits. It is a pleasure to work with them.” – Restructuring and insolvency

“The firm takes an active approach to corporate insolvency cases.” – Restructuring and insolvency

Tom Fagernäs

“A good team player, who is available and responsive.” 

Heidi Kivenjuuri

“Always provides excellent services, very dedicated and professional.” 

Mårten Knuts

“Very good. Pays attention to client needs, has commercial understanding and good responsiveness.” 

Sami Laine

“True professional and has very good people skills.” 

Jarmo Makkonen

“Great work.” 

Sami Martola

“Flexible service, and professional.” 

“Very responsive and attentive to client needs. Strong M&A skills with commercial understanding. I would feel completely safe recommending him to any client whether for M&A or corporate work.” 

Lennart Simonsen

“Excellent service, practical, experienced, and solution oriented.” 

Mika Ståhlberg

“Great subject matter expert. Provides hands-on advice.” 

Mikko Tiilikka

“Great.” 

Päivi Toivari

“A brilliant lawyer and a very pleasant person to deal with. Always reasonable and professional, has a solid understanding for commercial side, responsive and reliable. She combines a very important ability of absolute loyalty to the client and pragmatic way of negotiating with the counterpart.” 

“Managed all of our investment and financing transactions and dealt with all rising unexpected issues. In addition, they explained all particularities of the Finnish real estate and finance law to us in a detailed but understandable way.” 

Heikki Vesa

“Extremely reliable and talented. Has a very systematic way of doing. Takes care of the whole entity and it is easy to deal with. Finds relevant key points fast and has an excellent capability to find solutions for different matters. A one to whom you can leave your keys.” 

“Future star.” 

Hannu Ylönen

“Experienced insolvency lawyer. Capable of finding innovative solutions.” 

“Long experience, deep knowledge and has a widespread contact network with excellent social skills.” 

“Very talented with world class service. An excellent and experienced adviser and a clever negotiator with good communication skills. It is very easy to discuss about anything with him and get different alternatives for the solution. He gets cases moving forward as well as the results and you receive the value from what you paid for.” 

Merilampi

The team at Merilampi is best known for its work in the M&A area, though it also has a strong offering in banking and finance.

In the banking area the firm is particularly active in mandates concerning regulatory advice and real estate finance. A recent highlight included assisting Suominen in its entry into a syndicated credit facility agreement.

Standout matters in the M&A space saw the firm represent Nordea as its Finnish counsel in the cross-border merger of Nordea Bank Finland into its Swedish parent company, Nordea Bank, and represent Kesko Corporation in two strategic transactions. 

Recent departures from the firm saw M&A partners Lassi Kettula and Jussi Lampinen join Merkurius Attorneys, the former Tampere office of Merilampi. Banking partner Merja Blankenstein also departed, joining Eversheds.

Key clients of the firm include the likes of Citibank, Nordea and Sanoma.

Client feedback

“The firm provides hands-on advice and is very quick in its response. It is very good value for money with no unexpected surprises in going beyond budget by keeping us up-to-date all the time. It understood the business case very well.” – M&A

PwC Legal

The Finnish legal arm of PwC has primarily advised clients on corporate matters within the M&A space. It has worked across a range of sectors including construction, insurance, real estate and transport.

A highlight deal saw the firm act for Fin Scan, a manufacturer of grading systems to the sawmill industry, in the sale of all the shares in the company to Microtec, a member of the Austrian Springer group.

LähiTapiola, Evli Bank and Nordic Waterproofing are among the firm’s notable clients.

Client feedback

“The legal team worked professionally and gave us the expertise which was relevant at the time. The lawyers were easy to work with and they could be easily approached.” – M&A

Roschier

Roschier is recognised as one of the region’s leading firms across all areas of transactional work, with the Finnish office displaying particular strength in financing and M&A.

The firm has been involved in a variety of high-profile refinancings and new money acquisition facilities in the banking and finance space. Acting for banks on the lending aspects of the REDI shopping centre project and the construction of Arena, as well as advising Blackstone on financing its acquisition of Sponda, were among notable deals.

In capital markets, the team advised on several high-profile deals in the Finnish market, both on the debt and equity side, for clients including Nokia and Angry Birds-maker Rovio Entertainment.

Roschier’s M&A team has been busy, working on large cross-border and private equity deals. Recent highlights include representing CapMan Buyout in the sale of Walki Group, acting for First State Investments in the sale of Digita, and advising Axcel in the acquisition of Orion Diagnostica.

In the projects space, energy is a key component of the firm’s work with exposure to nuclear, electricity, wind and other renewable energy deals. After winning the public procurement for all of the legal services related to the construction of the Balticconnector natural gas pipeline between Finland and Estonia, Roschier has acted on other related mandates arising from the issue.

Staffing changes during the research period include the addition of former Borenius partner, Johannes Ahti, whose arrival strengthened the firm’s finance and capital markets practices. Ahti’s arrival saw finance counsel Mikko Heinonen move in the opposite direction months later. Roschier also hired Jonne Järvi from Castrén & Snellman to become a partner in the finance and restructuring practise. Furthermore, Jussi Pelkonen joined the firm as a financial regulatory and funds counsel, after moving from Evli Bank’s in-house team.

Further notable clients include Apax Partners, IK Investment Partners, and Finnair.

Client feedback

“Sizable firm with deep knowledge in almost all areas.” – Banking, capital markets, M&A

“It offers excellent quality of service. Can be engaged with on significantly demanding and complex projects.” – M&A

“Solid performance, innovative solutions and responsive to requests.” – Project finance

Jouni Salmi

“High quality work.”

“Really only strengths to list - he is highly dedicated to understanding and guiding the client's needs. He provides his client with a robust understanding of deal positioning.”

Gunnar Westerlund

“Top lawyer in Finland, we can be sure he will find a solution to solve any issues.”

Trust

Trust is a niche firm, which has a presence in banking and M&A transactions in the Norwegian market.

The banking and finance team has worked on matters including bilateral and syndicated loans, and derivatives and structured finance transactions during the research period. A clear highlight saw the firm provide assistance to LähiTapiola on high value financing facilities and on equity arrangements.

One of the more notable matters that the M&A team worked on during the research period saw it represent the listed Finnish company, Affecto, in the acquisition of data analytics company BigDataPump.

Beyond those already mentioned, clients of the firm include financial technology company, Mash Group, and IT security group, F-Secure.

Waselius & Wist

Waselius & Wist is perhaps best known for its banking and finance work, counting several global banks among its clientele.

In banking and finance, the firm has largely acted on the lender side for pure financing matters. This included representing the likes of Deutsche Bank, Goldman Sachs and UBS.

The firm’s capital markets deals were predominantly a mix of public tender offers and notes issuance, including a role in advising BNP Paribas, ING Bank, and Nordea as joint managers of the issuance by Neste.

Cross-border transactions featured heavily in the firm’s recent M&A work, with notable deals including advice for Garden Denver on its acquisition of Runtech Systems, for IFN Group on its takeover of Skaala Group, and for Cerebrus Capital Management on Finnish law aspects, after it gained a controlling stake in the European operations of Staples.

The firm rises to tier two in the M&A rankings following the consolidation of its strengths within the area. 

Other key clients include Apollo, Borealis and Crédit Agricole. 

White & Case

The Finnish office of global firm White & Case is most recognised for its financial and corporate work. The firm employs some of the country’s most experienced capital markets specialists, and is generally involved in the market’s most significant equity and debt offerings. Financing and M&A are other areas where the firm is highly commended.

In the banking and finance area, the firm has acted on real estate financing, and on financing packages by advising the likes of the Carnegie Investment Bank, Credit Suisse and DNB. 

The capital markets team regularly advised both issuers and underwriters on debt, equity or hybrid capital markets transactions. In the debt space, it worked for the issuers on a large range of mandates including on a number of high-yield bonds by Finnish companies including Ahlstrom-Munksjö, Kemira and Neste. In the equity space, the firm notably advised the global coordinators and bookrunners on Angry Birds-maker Rovio Entertainment’s IPO and listing on Nasdaq Helsinki.

The firm’s M&A team was involved in a number of high-profile Finnish deals for sellers and acquirers. Highlights included work for Blackstone Group’s public tender offer for all shares in Sponda, which marked the largest public M&A transaction in the Finnish real estate sector.

JPMorgan, Metso and Nordic Capital are also among the firm’s key clients.

Client feedback

“It's very efficient. The documentation was produced in close co-operation with us, and English law advice is available.” – Banking

“White & Case is a reliable performer, one that can be counted on. In many areas of banking and financing, it is simply the best in town.” – Banking, capital markets, M&A

“Overall excellent quality and value for money.” – Capital markets