Languages

Finnish, Swedish, English

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Josefina Aalto

Specialist Partner Finance

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Languages

Finnish, Swedish, English

Josefina advises clients on all types of financing transactions, including acquisition finance, real estate finance, project finance, and restructuring and refinancing. Josefina has extensive experience in advising clients on energy and infrastructure related financing transactions, with a particular focus on renewable energy. She is also active in Hannes Snellman’s ESG Group.

Selected References

Parties:

Helios Nordic Energy AB (Seller), international independent power producers (IPPs) and infrastructure funds (Buyer)

Transaction:

Hannes Snellman has recently advised Helios Nordic Energy AB on the disposal of a 125 MW / 250 MWh battery energy storage system (BESS) project in Finland, bringing the total volume of BESS projects where Hannes Snellman has advised Helios Nordic Energy AB in the Finnish market to more than 550 MW / 1,100 MWh over the past year. The respective transactions, comprising six separate projects, have been completed with a mix of international independent power producers (IPPs) and infrastructure funds. All buyers remain undisclosed.

Deal value:

Not public

Role:

Counsel to Helios Nordic Energy AB

Contacts

Parties:

OX2

Transaction:

Hannes Snellman Advised OX2 in the construction, development, offtake, and Finnish law aspects of the project financing of two energy storage facilities with a combined capacity of 235 MW/470 MWh

The energy storage facilities will be co-located with the Kannisto wind farm in Halsua and the Korkeamaa wind farm in Soini. Both energy storage facilities will be completed in 2028. The projects represent OX2's first energy storage additions to its Finnish IPP portfolio, and OX2 has secured a long-term flexible purchase agreement with Norwegian power producer Statkraft for the operation and optimisation of both storage facilities. OX2 has also secured a long-term project financing package with KfW IPEX-Bank, NatWest, Nordea, and SEB through an extension of the commitments already made towards the Kannisto, Korkeamaa, and Salo-Ylikoski wind power projects. The energy storage facilities will remain under OX2's ownership after completion.

Hannes Snellman advised OX2 in respect of the BESS supply agreements and long term service agreements, balance of plant agreements, optimisation agreements, due diligence as well as Finnish law aspects of the project financing.

Value:

Not public

Role:

Counsel to OX2

Contacts

Hannes Snellman advised OX2 in respect of the construction contracts, PPA, development, due diligence as well as Finnish law aspects of the project financing.

Contacts

Parties:

Fazer

Transaction:

Hannes Snellman advises Fazer in the construction and financing of its greenfield project in Lahti, Finland, comprising a new, state-of-the-art chocolate factory intended to support Fazer’s long-term strategic growth and capacity expansion. The construction works will start this summer, and the factory is scheduled to be operational in 2028.

Deal Value:

Approximately EUR 400 million

Role:

Counsel to Fazer

Contacts

Parties:

UrbanLight (joint venture between Alma Property Partners and Alea Partners)

Transaction:

Hannes Snellman acted as counsel to UrbanLight in the acquisition of a logistics property located in the Piispankylä area of Vantaa, near Helsinki Airport. The property comprises approximately 7,000 sqm of high-quality logistics space.

Deal Value:

Value not public

Role:

Counsel to UrbanLight

Contacts

Parties:

SSAB, Danieli, SMS, NCC, and Peab

Transaction:

Hannes Snellman advised SSAB in its transformation project initiated with the decision to build a fossil-free mini-mill in Luleå, Sweden, including recent key technology contracts with Danieli (comprising two electric arc furnaces, secondary metallurgy, a caster and strip mill) and SMS (cold rolling complex), and contracts for planning and execution of building and civil engineering work with Peab and NCC for the cold mill complex and mini-mill sites extending over an area of 30 and 40 hectares, respectively.

Value:

The total mini-mill investment is estimated to amount to EUR 4.5 billion.

Role:

Counsel to SSAB

Contacts
  • A woman with brown hair pulled back, wearing a dark blazer over a dark dress, stands with her arms crossed and smiles against a plain purple background.

    Katja Perätalo

    Partner +358 44 505 3764 katja.peratalo@hannessnellman.com
  • A woman with shoulder-length brown hair, wearing a navy blazer, cream blouse with a bow, and dark pants, stands against a plain light purple background, smiling with her hands behind her back.

    Elina Uitto

    Senior Associate +358 45 197 7003 elina.uitto@hannessnellman.com
  • A man in a dark suit with a white shirt and red tie stands against a plain beige background, smiling with his hands in his pockets.

    Axel Rosengren

    Associate +358 45 262 5222 axel.rosengren@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com
  • A woman with long brown hair, wearing a brown blouse and black pants, sits on a stool against a dark teal background, looking calmly at the camera with her hands resting on her knee.

    Emmi Malm

    Senior Associate +358 40 731 8200 emmi.malm@hannessnellman.com
  • A woman with long, wavy blonde hair wearing a light beige turtleneck sweater and black pants stands with arms crossed, smiling slightly, in front of a plain green background.

    Victoria Reiter

    Legal Assistant +358 40 546 7682 victoria.reiter@hannessnellman.com

Hannes Snellman advised Faron Pharmaceuticals Ltd in its convertible bond arrangement of up to EUR 35 million and the issuance of amortising unsecured convertible bonds in connection with the refinancing of the company’s existing senior secured loan. Faron Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatment of cancers via novel immunotherapies. Faron’s shares are listed on Nasdaq First North Growth Market Finland and as depositary interests, representing entitlements to shares, on AIM in the United Kingdom.

Hannes Snellman’s core advisory team comprised Anniina Järvinen, Riikka Rannikko, Robert Gordin, and Claes Backström (Capital Markets and Corporate), Josefina Aalto (Finance), Jenni Parviainen (Tax), and Legal Assistant Anni Nohteri.

Contacts

The Rajamäenkylä wind farm in Karijoki and Isojoki will be completed in 2028 and comprise 54 Nordex N175/6.8 wind turbines with a total capacity of 367 MW. The Honkakangas wind farm in Halsua will be completed in 2027 and comprise 16 Nordex N175/6.525 wind turbines with a total capacity of around 105 MW. The projects have a long-term PPA with a multinational corporate offtaker, and OX2 has also secured a long-term debt financing agreement with Santander Corporate & Investment Banking. The investment amounts to more than EUR 700 million, and the wind farms will remain under OX2’s ownership once constructed.

Hannes Snellman advised OX2 in respect of the construction contracts for full grid and balance of plant, turbine procurement, PPA, development, as well as Finnish law aspects of the project financing.

Our core team comprised Maria Landtman, Klaus Metsä-Simola, Marjaana Martikainen, Katja Perätalo, Minna Juhola, Elisa Panula, Emmi Malm, Julia Ranta, Linda Härkönen, Rauli Elenius, Alisa Ainonen, Elina Uitto, and Jenny Karlsson, (Real Assets), Josefina Aalto, Anna Huttunen, and Oona Aalto (Finance), Piia Ahonen and Harri Vehviläinen (Tax), Olli Mäkelä (Dispute Resolution), and Legal Assistants Victoria Reiter, Salla Mäki, Zoe Röpelinen, Melisa Göllü, and Laura Pöyhönen.

Contacts

Parties

Imerys (Seller), Flacks Group (Buyer)

Transaction

Imerys’ disposal of assets serving the paper market to an affiliate of Flacks Group, a US investment firm.

Deal value

Net equity value of approx. EUR 150 million

Role

Finnish counsel to Imerys

Contacts
  • A woman with straight blonde hair stands in front of a dark green background, wearing a white textured blazer over a black top. She smiles softly and holds one side of the blazer with her right hand.

    Sofia Sihvonen

    Senior Associate +358 50 490 4130 sofia.sihvonen@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com

Parties

Locus Energy Ab, SUSI Renewable Energy Fund II

Transaction

Hannes Snellman acted as counsel to Locus Energy Ab, a long-term active owner and developer of local infrastructure for sustainable energy production in the Nordic region, in its acquisition of portfolio of three operating Finnish wind farms from SUSI Renewable Energy Fund II. The wind farms Pirttiselkä, Leppävirta and Muntila consists of 13 wind turbine generators and contribute approximately 125 GWh in annual production.

Deal Value

Not public

Role

Counsel to Locus Energy Ab, a long-term active owner and developer of local infrastructure for sustainable energy production in the Nordic region, in its acquisition of portfolio of three operating Finnish wind farms from SUSI Renewable Energy Fund II

Contacts
  • A man in a dark navy suit, white shirt, and patterned tie stands against a plain beige background with his hands behind his back, facing the camera with a neutral expression.

    Tapio Teräkivi

    Senior Partner +358 40 769 8273 tapio.terakivi@hannessnellman.com
  • A woman with straight brown hair, wearing a long-sleeved black blouse, stands against a plain, warm brown background, smiling gently with her hands clasped in front of her.

    Elisa Panula

    Managing Associate +358 50 917 6807 elisa.panula@hannessnellman.com
  • A woman with straight blonde hair wears a white suit and vest, standing with one hand in her pocket against a beige background, looking confidently at the camera.

    Silja Piironen

    Senior Associate +358 40 580 7175 silja.piironen@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com
  • A woman with long brown hair stands confidently with arms crossed, wearing a blue blazer and black pants, in front of a plain teal background.

    Oona Aalto

    Associate +358 44 023 2073 oona.aalto@hannessnellman.com
  • A man in a dark suit with a white shirt and blue tie stands against a plain, light brown background, smiling slightly with his hands at his sides.

    Aleksi Maunumäki

    Associate +358 41 506 2267 aleksi.maunumaki@hannessnellman.com
  • A man in a navy blue suit, white shirt, and dark tie stands against a plain purple background, smiling slightly with his hands loosely clasped in front of him.

    Mikko Huimala

    Partner +358 44 530 0753 mikko.huimala@hannessnellman.com
  • A young woman with long, wavy brown hair stands against a plain light purple background, wearing a light pink blouse and a black skirt. She is smiling softly and has her arms crossed.

    Karoliina Kaartinen

    Billing and Collections Assistant +358 40 577 0425 karoliina.kaartinen@hannessnellman.com

Parties

Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ), Swedbank AB (publ), SATO Corporation, and Sato-Asunnot Oy

Transaction

Counsel to Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ), and Swedbank AB (publ) in relation to SATO’s EUR 250 million senior secured revolving credit facility agreement

Deal Value

EUR 250 million

Role

Danske Bank A/S, Nordea Bank Abp, OP Corporate Bank plc, Skandinaviska Enskilda Banken AB (publ), andSwedbank AB (publ)  

Contacts
  • A man in a dark suit and white shirt sits on a stool against a plain tan background, looking at the camera with a neutral expression. His hands are resting on his knee, and he is wearing a wristwatch.

    Antti Nyberg

    Partner +358 40 838 9375 antti.nyberg@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com
  • A young man wearing a dark pinstripe suit, white shirt, and red-striped tie stands in front of a tan background, looking at the camera with a slight smile and one hand in his pocket.

    Samuel Hardy

    Associate +358 44 273 2795 samuel.hardy@hannessnellman.com

Parties

UrbanLight, Alma Property Partners, Alea Partners

Transaction

Hannes Snellman acted as counsel to UrbanLight, a joint venture between Alma Property Partners and Alea Partners, in a sale and leaseback of two logistics properties located in Tuusula with Kreate.

Deal Value

Value not public

Contacts

Parties

UrbanLight, Alma Property Partners, Alea Partners

Transaction

Hannes Snellman acted as counsel to UrbanLight, a joint venture between Alma Property Partners and Alea Partners, in the acquisition of two properties with 27.000 sqm of logistics and warehouse space located near to Helsinki-Vantaa Airport.

Deal Value

Value not public

Role

Counsel to UrbanLight

Contacts

Parties

Keliber Oy

Transaction

Counsel to Sibanye-Stillwater’s subsidiary Keliber Oy in respect of matters of Finnish law in the EUR 500 million green loan financing for the Keliber lithium project in Finland through its subsidiary Keliber Technology Oy. The green loan secures the final capital expenditure funding required for the construction and development of the Keliber lithium project’s mining, processing and refining facilities in Kaustinen, Kronoby and Kokkola, Finland.

Deal Value

EUR 500 million

Role

Counsel to Keliber Oy

Contacts
  • A man in a dark suit with a red striped tie and pocket square sits on a stool against a plain teal background, looking at the camera with a slight smile, hands clasped in front of him.

    Markus Bremer

    Partner +358 40 716 9676 markus.bremer@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com
  • A person with shoulder-length blonde hair stands confidently with arms crossed, wearing a dark burgundy shirt and grey vest against a solid light brown background.

    Anna Huttunen

    Associate +358 40 566 7210 anna.huttunen@hannessnellman.com
  • A woman with long brown hair stands confidently with arms crossed, wearing a blue blazer and black pants, in front of a plain teal background.

    Oona Aalto

    Associate +358 44 023 2073 oona.aalto@hannessnellman.com

Parties

Nordea Bank Abp, Danske Bank A/S, Planmeca Oy

Transaction

Nordea Bank Abp and Danske Bank A/S's two term loan facility agreements in aggregate of EUR 150 million for Planmeca Oy

Deal Value

EUR 150 million

Role

Counsel to Nordea Bank Abp and Danske Bank A/S

Contacts
  • A man in a dark suit and white shirt sits on a stool against a plain tan background, looking at the camera with a neutral expression. His hands are resting on his knee, and he is wearing a wristwatch.

    Antti Nyberg

    Partner +358 40 838 9375 antti.nyberg@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com

Parties

Faron Pharmaceuticals Ltd

Transaction

Hannes Snellman acted as counsel to Faron Pharmaceuticals Ltd in its public share offering of EUR 30.7 million and the preceding issuance of convertible capital loans in the total amount of EUR 3.2 million and a private placement of EUR 4.8 million. Faron Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing treatment of cancers via novel immunotherapies. Faron’s shares are listed on Nasdaq First North Growth Market Finland and as depositary interests, representing entitlements to shares, on AIM in the United Kingdom. The offering consisted of a public offering to private individuals and legal entities in Finland and an institutional offering to institutional investors internationally, and a separate open offer to qualifying holders of depositary interests in the United Kingdom and elsewhere and a retail offer to retail investors in the United Kingdom.

Deal Value

EUR 30.7 million

Role

Counsel to Faron Pharmaceuticals Ltd

Contacts

Parties

Cargotec Corporation and Kalmar Corporation

Transaction

Cargotec’s partial demerger and separation of Kalmar

Deal Value

Approx. EUR 2.0 billion (illustrative carve-out sales)

Role

Counsel to Cargotec Corporation and Kalmar Corporation

Contacts

Parties

UrbanLight, Alma Property Partners and Alea Partners 

Transaction

Counsel to UrbanLight, a joint venture between Alma Property Partners and Alea Partners, in the acquisition of a last-mile logistics property located at Niittyvillankuja 3, Koivuhaka, a strong logistics area near Helsinki Airport.

Deal value

Value not public

Role

Counsel to Urbanlight, a joint venture between Alma Property Partners and Alea Partners

Contacts

Parties

OP Corporate Bank plc, Danske Bank A/S, SATO Corporation and Sato-Asunnot Oy

Transaction

Counsel to OP Corporate Bank plc and Danske Bank A/S in relation to SATO’s EUR 100 million sustainability linked secured term loan facility agreement.

Deal Value

EUR 100 million

Role

Counsel to OP Corporate Bank plc and Danske Bank A/S

Contacts
  • A man in a dark suit with a red striped tie and pocket square sits on a stool against a plain teal background, looking at the camera with a slight smile, hands clasped in front of him.

    Markus Bremer

    Partner +358 40 716 9676 markus.bremer@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com

Parties:

LegacyinSight BC (Borrower), Eurazeo Investment Manager, S.A (Arranger) and Glas SAS (Agent)

Transaction:

Counsel to the arranger and lenders in refinancing of LegacyinSight BC Oy’s existing facilities

Deal Value:

Value not public

Role:

Counsel to Eurazeo Investment Manager

Contacts
  • A man in a dark suit and white shirt sits on a stool against a plain tan background, looking at the camera with a neutral expression. His hands are resting on his knee, and he is wearing a wristwatch.

    Antti Nyberg

    Partner +358 40 838 9375 antti.nyberg@hannessnellman.com
  • A woman with long brown hair wearing a black short-sleeve top stands in front of a solid orange background, looking at the camera with a slight smile.

    Josefina Aalto

    Specialist Partner +358 50 505 7427 josefina.aalto@hannessnellman.com
  • A person with shoulder-length blonde hair stands confidently with arms crossed, wearing a dark burgundy shirt and grey vest against a solid light brown background.

    Anna Huttunen

    Associate +358 40 566 7210 anna.huttunen@hannessnellman.com

Parties:

Otava Ltd, Alma Media Corporation

Transaction:

Otava Ltd's mandatory public tender offer for Alma Media Corporation

Deal value: 

EUR 523.7 million

Role:

Counsel to Otava Ltd

Contacts

Rankings

  • "Josefina Aalto is particularly well known for her work in project finance and the energy sector. She is highly engaged, energetic, quick-thinking, and solution-oriented, with a strong sense of curiosity and responsiveness. She is also exceptionally reliable and has an excellent understanding of financing transactions in the Finnish market."

    Ranked among Next Generation Partners, Banking and Finance, Legal 500, 2026
  • Ranked among Leading Associates and recognised as a key lawyer, Banking and Finance, Legal 500, 2025
  • Recognised as a Rising Star in Banking and Finance, IFLR100, 2025

Memberships and Positions of Trust

  • Member of the Finnish Bar Association

Professional Background

  • Specialist Partner, Hannes Snellman, 2025-
  • Counsel, Hannes Snellman, 2023–2025
  • Bird & Bird Attorneys Ltd, 2021–2023
  • Krogerus Attorneys Ltd, 2015–2021

Education

  • Master of Laws, University of Helsinki, 2014