Our latest deals.
Waselius & Wist advised Secto Automotive in its acquisition of the OP Kulku business from Pivo Wallet, a subsidiary of OP Corporate Bank. OP Kulku offers long-term electric and hybrid vehicle leasing services for consumer and business customers. The acquisition makes Secto Automotive one of the largest providers of electric cars in Finland.
For more information, please view the press release (only available in Finnish).
Waselius & Wist advised the winning tenderer Marfina S.L. in the public tender regarding the Vantaa City Bike System
Waselius & Wist advised the winning tenderer Marfina S.L. and its subcontractor CityBike Finland Oy in the public tender, and in the negotiation of the procurement contract, relating to a major procurement by the City of Vantaa of a City Bike System comprising in total 1,000 bikes and 100 city bike stations in the Tikkurila, Aviapolis, Myyrmäki and Martinlaakso areas in Vantaa.
Waselius & Wist successfully represented CityJet Oy in dispute regarding the company’s pension policy
Waselius & Wist acted for the defendant CityJet Oy in a dispute before the Labour Court against Blue1 Pilots Association ry. The issue in the case was whether CityJet Oy had correctly applied the pension agreement concluded between CityJet Oy (then Blue1 Oy) and Blue1 Pilots Association ry in 2014.
Based on the pension agreement concluded in 2014 CityJet Oy had in 2016 and 2017 decreased the pension contributions paid for the benefits of the employees. The Blue1 Pilots Association ry argued that CityJet Oy should have calculated the reductions differently and claimed that CityJet Oy had failed to pay agreed pension contributions in full.
The Labour Court considered in its decision of 7 June 2019 that CityJet Oy had applied the pension agreement correctly and the decreased pension contributions were calculated in the matter intended in the agreement.
Waselius & Wist advised the mezzanine lender on the Finnish aspects of the refinancing of Technopolis Plc and certain of its group companies in Finland, Norway, Sweden and Lithuania by euro, Norwegian krone and Swedish krona denominated senior secured facilities and mezzanine secured facilities for approximately EUR 930 million in total.
Technopolis is a shared workspace expert. Technopolis’ 17 campuses host 1,600 companies with 50,000 employees in seven countries within the Nordic and Baltic Sea region.
Value: EUR 930 million
Waselius & Wist advised Loram Maintenance of Way, Inc. in its acquisition of the Rail Division business of Roadscanners Oy, including its Rail Doctor® software. Loram is a leading supplier of track maintenance and friction management services and equipment in North America and around the globe. Loram has more than 175 machines and 2,100 friction management units located in 16 different countries.
Waselius & Wist represented Joab group in the acquisition of the business of Pro Lift Oy. JOAB is a market-leading manufacturer of truck bodies and has a turnover of about 900 million SEK and some 275 employees.
Waselius & Wist successfully represented MSD Finland Oy in first ever patent dispute regarding a biosimilar medicinal product
Waselius & Wist acted for the defendant MSD Finland Oy in a preliminary injunction matter before the Finnish Market Court against F. Hoffman-La Roche AG, Roche Oy and Genentech Inc. The issue in the case was whether MSD Finland Oy by marketing and selling a medicinal product in Finland infringed Roche and Genentech’s rights according to the Finnish part of a European product patent.
The medicinal product in question is a biosimilar version of a biological medicinal product, which is manufactured and marketed by Roche. A biosimilar medicinal product is a similar but not identical version of an existing biological medicinal products, i.e. the reference product. A biosimilar product may have minor differences in the molecule compared to the reference product, but these differences must not influence the efficacy and safety, including adverse reactions, of the biosimilar version compared to the reference product. This was the first patent dispute ever in Finland regarding biosimilar products.
The Market Court considered in its decision of 11 March 2019 that there was no likelihood of an infringement of Roche’s and Genentech’s rights under the patent-in-suit and rejected Roche and Genentech’s request for a preliminary injunction. With the Market Court’s decision, MSD Finland Oy can continue the sale of its biosimilar product to Finnish hospitals.
Waselius & Wist successfully represented Ascensia Diabetes Care Finland Oy before the Market Court in litigation against the Joint Municipal Authority of the Hospital District of Central Finland regarding a major procurement of blood glucose meters and test strips. The decision of the Market Court represents an important national interpretation of the judgment of the European Court of Justice in case C‑298/15 Borta UAB regarding changes to clauses in the tender specifications.
For more information, please contact
In 2016, the Finnish tax authorities ordered public broadcaster YLE to hand over documents leaked from the Panama law firm Mossack Fonseca. Today, the Finnish Supreme Administrative Court (SAC) held that the Tax Administration had no right to demand YLE to hand over documents. Our Tax partner, Jouni Weckström represented YLE in this extremely interesting case, which will serve as a precedent in future disclosure obligation matters.
The so-called Panama Papers leak included more than 11 million documents. They were originally handed over to a German newspaper by an anonymous source.
Some 400 journalists from more than 100 media organizations in over 80 countries joined in analysing the data. As part of this unprecedented effort, two YLE reporters were given access to the documents. They found that a number of Finnish individuals and firms were involved in setting up and taking advantage of offshore tax havens.
The Finnish Tax Administration requested a full surrender of and access to all the related material held by YLE, but YLE denied. Even if the matter itself entailed a strong and clear context of weighing of the freedom of speech and the protection of journalistic source as constitutional rights against the obligation to surrender third party information, the SAC did not find a need to go that deep. In other words, the case was decided based on “just” tax procedural rules whereby a request for full surrender with no specified case to be assessed is not in accordance with the law.
For more information, please contact
Waselius & Wist represented Cockerill Maintenance & Ingénierie, a Belgian engineering group, in its acquisition of Oy Galvatek Ab, a leading Finnish automated surface treatment plant provider.