Languages

English, Finnish

A man in a dark suit, white shirt, and maroon tie stands against a plain beige background, looking at the camera with a neutral expression and one hand in his pocket.

Elias Vanninen

Associate M&A, Corporate Advisory

A man in a dark suit, white shirt, and maroon tie stands against a plain beige background, looking at the camera with a neutral expression and one hand in his pocket.

Languages

English, Finnish

Elias advises domestic and international clients on various forms of corporate transactions, including acquisitions, divestments, joint ventures, mergers, and demergers. Moreover, he provides advice on corporate and governance matters for both listed and non-listed companies in addition to general commercial and contract law advisory.

Selected References

Parties:

UPM-Kymmene Corporation, Sappi Limited

Transaction:

Hannes Snellman is advising UPM-Kymmene Corporation (UPM) in establishing a joint venture to combine UPM’s graphic paper business and Sappi Limited’s graphic paper business in Europe with a combined enterprise value of the respective businesses of €1,420 million, excluding the value of expected synergy benefits. The joint venture is to include entire UPM Communication Papers business, including eight UPM Communication Papers’ paper mills at Kymi, Rauma and Jämsänkoski in Finland; Nordland, Augsburg, Schongau in Germany; UPM Caledonian paper mill in the UK, and Blandin paper mill in the USA.

The contemplated joint venture represents a decisive response to the structural changes in the European graphic paper industry, offering a path to strengthen the resilience of the industry and provide long-term commitment and supply security to graphic paper customers.

The complex, multi-jurisdictional transaction with agreements covering both JV structure, governance, carve-out and commercial arrangements required close-knit cooperation with broad UPM team and across all advisors.

Value:

Combined enterprise value of the respective businesses of EUR 1,420 million

Role:

Counsel to UPM-Kymmene Corporation

Contacts

Professional Background

  • Associate, Hannes Snellman, 2026–

Education

  • Master of Laws, University of Helsinki, 2025