Our latest news and deals.
Offering of 6 1/2% senior notes due 2024 and 6 7/8% senior notes due 2026 by First Quantum Minerals Ltd.
Waselius & Wist represented First Quantum Minerals Ltd in the Finnish law aspects of the offering of $850,000,000 in aggregate principal amount of 6½% senior notes due 2024 and $1,000,000,000 in aggregate principal amount of 67/8% senior notes due 2026.
Value: USD 1.95 billion.
Waselius & Wist represented the arranger, ING Bank N.V., and the other dealers in Fingrid Oyj’s EMTN Debt Issuance Programme of 2018.
Value: EUR 1,500,000,000
Waselius & Wist represents Digital Colony in the Finnish law aspects of its acquisition of Digita Oy from First State Investments.
Digita is the owner and operator of the premier nationwide digital terrestrial television and radio broadcasting tower infrastructure network in Finland. The company is also Finland’s largest independent tower network owner, providing infrastructure solutions to the country’s largest mobile network operators.
Digital Colony is a global investment firm focused on enabling the next generation of mobile and internet infrastructure. Digital Colony is a joint venture between Digital Bridge Holdings, LLC, a leading owner and operator of digital infrastructure businesses and Colony NorthStar, Inc. (NYSE: CLNS), a leading real estate investment management firm.
The transaction is subject to customary regulatory approvals.
Waselius & Wist represented Hellman & Friedman LLC in the Finnish law aspects of the public takeover bid for Nets A/S and the related financing.
Nets A/S is a payments processor headquartered in Copenhagen who owns the shares in the Finnish regulated payment institutions Nets Oy and Paytrail Oyj.
Nordea to be supervised by the European Central Bank together with the Finnish Financial Supervisory Authority
Nordea, the largest financial services group in the Nordic region and one of the largest banks in Europe, has resolved to move its headquarters from Sweden to Finland. A large majority of 96.6 % of the shareholders at Nordea Bank AB’s annual meeting on 15 March 2018 voted in favor of relocating the headquarters to Helsinki, readily surpassing the required two-thirds majority vote. The target date for the relocation is 1 October 2018.
Of the four domestic markets of Nordea, Finland’s membership in the European Banking Union was the decisive factor for the relocation. Following the relocation Nordea will be supervised by the European Central Bank together with the Finnish Financial Supervisory Authority. Nordea will also be subject to the same banking supervision and single resolution mechanisms as the great majority of other European banks. The move contributes considerably to the stability in the Eurozone and helps to create a levelled playing field when major actors within the banking sector are covered by common supervision and the jurisdiction of the Single Resolution Board. As a result of the relocation the size of the Finnish banking sector will be triple the size of Finland’s GDP. As a response to the relocation, the Finnish Financial Supervisory Authority will adjust its organizational structure with respect to banking supervision and make preparations for the use of macroprudential tools and supervisory cooperation with the European Central Bank and the Swedish regulator Finansinspektionen.
Nordea’s decision to relocate follows the Swedish Government’s intention to increase the amount of the so called resolution fee, a banking tax collected from Swedish financial institutions. Also, the stricter Swedish bank legislation and tighter capital requirements compared with the EU were of relevance when the decision to relocate was made.
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Waselius & Wist is sponsoring the upcoming Helsinki International Arbitration Day 2018, organized by The Arbitration Institute of the Finland Chamber of Commerce. The event will take place on 24th May 2018 at Restaurant Pörssi, Fabianinkatu 14, Helsinki, Finland . We look forward to meeting you there!
Waselius & Wist represented AEM Holdings Ltd. in the acquisition of Afore Oy, a MEMS test equipment company located in Finland that offers test handling solution mainly for Automotive, Industrial and Consumer applications. AEM provides handling and test solutions to the most advanced manufacturers in the world and the acquisition of Afore Oy, adds access to yet another exciting market benefiting from global technology megatrends.
Waselius & Wist represented Gardner Denver Holdings Inc. in the acquisition of Runtech Systems Oy for a total consideration of US$ 93 million. Gardner Denver is a leading global provider of mission-critical flow control and compression equipment and Runtech Systems Oy is a Finnish market leader in environmentally friendly and energy efficient turbo vacuum technology. Together Gardner Denver and Runtech plan to expand the technology to broader flow control, vacuum and pressure systems, and services to drive future profitable growth.
Waselius & Wist successfully represented the winning tenderer CityBike Finland Oy in the procurement by the City of Espoo of a city bike system, and in related Market Court proceedings. The city bike system includes 700 bikes and 70 bike stations for eight biking seasons with an option for extension. The estimated value of the procurement is some EUR 10 million.
Waselius & Wist represented the Mandated Lead Arrangers and the Lenders in the Finnish law aspects of the financing of the acquisition of ADB Safegate by the Carlyle Group. ADB Safegate is a leading provider of intelligent solutions that deliver superior airport performance from approach to departure and has more than 900 employees in over 20 countries and serves some 2,500 airports in more than 175 countries.