Hannes Snellman acted as counsel to Lemminkäinen Corporation in the combination of Lemminkäinen Corporation and YIT Corporation through a statutory merger. The combination is a strategically important leap to create a platform to grow to one of the leading urban developers in the Northern European construction market. The preliminary combined annual revenue of the combined company is approximately EUR 3.4 billion. The combined company will have approximately 10,000 employees located in 11 different countries.
Our Tax & Structuring team has assisted one of our clients in yet another successful court proceeding. The proceeding was initiated by the Finnish tax authorities’ interpretation whereby Finnish share transfer tax should also be levied on bank loans which are refinanced in connection with the acquisition of a real estate holding company. The latest reform on rules regarding share transfer tax, which has been in force since 1 March 2013, widened the share transfer tax base to also cover sc.
EQT has today announced that they have acquired shares corresponding to 85.2 percent of the total number of shares and votes in DGC One AB (publ) (“DGC One”), and thereby passing the mandatory bid threshold. EQT has acquired the shares at a price of SEK 250 per share, valuing DGC One to approximately SEK 2.3 billion. EQT has today also launched a mandatory takeover offer for the remaining shares in DGC.
Nasdaq-listed Coupa Software, a leader in cloud-based spend management, has acquired Trade Extensions to make it easier for organizations to reduce supply chain risk, increase profit margins and achieve operational compliance.
Trade Extensions offers a strategic sourcing and advanced optimization platform used by many of the world’s largest brands to run sourcing projects for the most complex categories, such as transportation and logistics, production planning and supply chain design.
Anticimex acquires remaining 80 per cent in WiseCon A/S, a Danish company that offers advanced electronic rattraps and monitoring systems, and establishes an Innovation Center for Digital Pest Control. The acquisition highlights Anticimex’s commitment to digital pest control solutions.
Hannes Snellman acted as counsel to a J.P. Morgan Asset Management fund in its disposal of four office properties to Alma Property Partners I AB in the Keilaniemi business district of Espoo, Finland. The properties have approximately 24,500 sqm of leasable area.
Hannes Snellman's Tax & Structuring team assisted a taxpayer in court proceedings, which secured earn-out payments received from the sale of shares being taxed as normal capital income. The Finnish tax authorities claimed that taxation should be assessed at the highest progressive tax rates applicable to salary income. These claims were based, among other things, on the earn-out payments' conditional nature and dependance on the continuing employment of the seller in the target company.
BRP Systems and Valedo have entered into a strategic partnership for acceleration of expansion and growth. The partnership secures additional resources and competence to fuel BRP’s continued development of BRP’s technical market leading ERP software and services for membership handling, booking and payment solutions to fitness facility operators in the Nordics and Europe.