Our latest deals.
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.
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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.
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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.
Waselius & Wist represented eQ Fund Management Company Ltd acting in the name and on behalf of eQ Finnish Real Estate (in Finnish: Erikoissijoitusrahasto eQ Liikekiinteistöt) as the buyer in the sale by PATRIZIA Immobilien Kapitalverwaltungsgesellschaft mbH acting for the account of the special AIF PATRIZIA Büro-Invest Europa I of commercial office property located in close vicinity of Helsinki city centre at Ruoholahti, Itämerenkatu 5. The target populates approx. 20 tenants and the transaction is W&I insured.
Value: MEUR 41.
Waselius & Wist represented Inlook Group, a leading Finnish service company supplying interior building solutions, in its acquisition of Montagegruppen. Montagegruppen is a leading Swedish provider of ceilings, acoustic solutions and special installations.
Waselius & Wist advised BBAM Aircraft Management LP in connection with the sale and leaseback of an Airbus A350 Aircraft between Finnair and Nomura Babcock Brown Co. Ltd.
Waselius & Wist represented EVRY, one of the leading IT services and software providers in the Nordic region, in its negotiations with Handelsbanken in Finland of an agreement for the delivery of next-generation core banking and payment solutions. The agreement runs for a period of eight years and is an important step for EVRY in its strategy of continuing to grow its presence in the Nordic and international markets. EVRY is one of the leading IT services and software providers in the Nordic region.
For more information, please visit: https://www.evry.com/en/news/articles/handelsbanken-in-finland-and-evry-enter-into-a-strategic-agreement/