News

Hannes Snellman Counsel to Ilmarinen, Kesko, Kesko Pension Fund, and Kruunuvuoren Satama in a Series of Transactions

7 June 2019

Ilmarinen Mutual Pension Insurance Company and Kesko Corporation announced on 28 May 2019 a series of transactions, whereby Ilmarinen, Kesko, and Kesko Pension Fund, among other things, dissolve their joint ownership of Kruunuvuoren Satama by Kruunuvuoren Satama acquiring Ilmarinen’s shares and Kesko acquiring Kesko Pension Fund’s shares in Kruunuvuoren Satama, and Ilmarinen acquires all 3,438,885 Kesko A shares held by Kruunuvuoren Satama.

The dissolution of the joint venture is estimated to take place by the end of the second quarter of 2019. Kruunuvuoren Satama will maintain ownership of other properties and assets held by it. The fair value of such properties and assets owned by Kruunuvuoren Satama is approximately EUR 164 million.

Hannes Snellman acted as legal counsel to all parties. Our team comprised of  Tuire Kuronen (M&A, Corporate, Joint Ventures), Klaus Ilmonen (Capital Markets, Corporate), Mikko Heinonen (M&A, Corporate), Heikki Vesikansa (Tax), Harri Vehviläinen (Tax), Mikko Huimala (Competition), and Tero Pikkarainen (M&A, Corporate).