News

Our latest news and deals.

Recent Deals / 24.04.2019

Acquisition of Pro Lift Oy by Joab group

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.

Lawyers involved:

Recent Deals / 18.12.2017

Joint venture between Firesteel Resources Inc. and Nordic Mines AB

Waselius & Wist advised Firesteel Resources Inc. (TSX-V: FTR) (“Firesteel”) in entering into a joint venture with Nordic Mines AB, giving Firesteel a controlling stake in Nordic Mines Marknad AB. The joint venture included related financing arrangements where Firesteel received USD 20,6 million in funds under a Prepaid Forward Gold Purchase Agreement with PFL Raahe Holdings LP, an investment vehicle controlled by Pandion Mine Finance, LP.

Firesteel will operate the Laiva gold mine in Finland which is estimated to hold one of the largest gold deposits in the Nordic region.

Lawyers involved

Maria Lehtimäki
Associate
Henri Kaskimo
Associate
Ann-Marie Eklund
Associate (Maternity Leave)
Recent Deals / 31.10.2017

Acquisition of Skaala by IFN Group

Waselius & Wist advised IFN Group, a leading European company for complete solutions around windows, doors, facades and sun protection systems, in its acquisition of 80 percent of the shares in Skaala Group Oy.

In addition to the acquisition, the transaction included corporate restructuring as well as the sale and leaseback of manufacturing sites in north-western Finland.

Skaala is the largest window and door brand in Finland. The company currently employs around 400 people and had a turnover of EUR 96 million in 2016.

Lawyers involved

Maria Lehtimäki
Associate
Niko Markkanen
Associate
Mona Numminen
Associate
Recent Deals / 03.01.2013

European Directories

Waselius & Wist advised the ad-hoc committee of Alcentra, GSO Capital Partners and the Royal Bank of Scotland representing the Lenders in the Finnish law aspects of the debt restructuring transaction of European Directories (in Finland, Fonecta) where Triton contributed EUR 15 million of new equity and increased its ownership of European Directories to 50.1 per cent, with the remaining 49.9 per cent split between the Senior Lenders. The restructuring reduced the company’s debt from EUR 893 million to EUR 262 million.

Lawyers involved

Lauri Peltola
Senior Counsel
Timo Lehtimäki
Partner

Recent Deals / 01.08.2012

Bankruptcies of Bronda real estate companies

Waselius & Wist represented the Junior Lender in the bankruptcy of 16 commercial real estate companies, so-called “Bronda” portfolio which were acquired by Bronda Properties B.V. in 2007 for a deal value exceeding EUR 300 million. The properties of the bankrupt real estate companies were sold to Niam, a Swedish real estate private equity firm, in July 2012. Most of the properties are located in prime central Helsinki area.

Lawyer involved

Lauri Peltola
Senior Counsel

Recent Deals / 07.10.2011

Bankruptcy of Elcoteq

Waselius & Wist represents the syndicate of lending banks in the bankruptcy of Elcoteq, a company listed on Nasdaq OMX Helsinki.

Lawyers involved

Lauri Peltola
Senior Counsel
Timo Lehtimäki
Partner

Recent Deals / 05.01.2011

Restructuring of European Directories Group

Waselius & Wist represented the Senior Lenders as to Finnish law aspects in the EUR 2 billion restructuring of European Directories Group, a pan-European local search and lead generation company, in Finland Fonecta Oy, pursuant to which the Senior Lenders took over the company in a debt-for-equity swap.

Lawyers involved

Lauri Peltola
Senior Counsel
Timo Lehtimäki
Partner

Recent Deals / 09.01.2010

Restructuring of Paroc Group

Waselius & Wist represented the Senior Lenders in the restructuring of Paroc, a leading manufacturer of stone wool insulation materials and solutions, pursuant to which the Senior Lenders took a 87.5 % equity position in the company and the company’s debt of some EUR750M was simultaneously substantially reduced.

Lawyers involved

Lauri Peltola
Senior Counsel

Tuurna