Krogerus

This newsletter features a look into Finnish competition law developments and recent enforcement practice. 2023 starts with reforms in Finnish merger control Lower turnover thresholds enter into force Revised merger control turnover thresholds entered into force in Finland on 1 January 2023. The thresholds are applicable to all transactions signed on or after this date. Under the new thresholds a transaction is notifiable to the Finnish Competition and Consumer Authority (FCCA) if the parties' combined turnover accrued from Finland exceeds EUR 100 million, and the turnover accrued from Finland by at least two parties separately exceeds EUR 10 million per party...

Year 2022 included several significant legislative reforms in the field of employment law. As we have now entered 2023, it is a good time to take a look back to the previous year and to have a look at reforms and amendments coming up during 2023 within the field of employment law. Legislative reforms and amendments in force from the beginning of 2023 The long-awaited Whistleblower Act is finally here as the implementation of the Whistleblower Directive was completed, and the new Finnish Whistleblower Act entered into force on 1 January 2023...

Krogerus advised Hartwall Capital, the largest shareholder of Konecranes, on the EUR 4.3 billion merger of Konecranes and Cargotec. The combined company will be a customer-focused global leader in sustainable material flow. Its illustrative combined annual sales are approximately EUR 7.0 billion and comparable operating profit is approximately EUR 565 million, based on financial year 2019 figures. The proposed combination will be implemented as an absorption merger whereby Konecranes will be merged into Cargotec and Konecranes shareholders will receive new shares in Cargotec. Hartwall Capital, which now owns 10 per cent...

Krogerus advised wind power company CPC Finland when it entered into a joint venture with Finnish energy group Helen (40% CPC, 60% Helen) for construction, owning and operating the 86 MW Lakiakangas 3 wind farm, consisting of 20 Vestas V150-4.3 MW turbines and located in the municipalities of Kristiinankaupunki and Isojoki in Western Finland. Krogerus also advised CPC Finland and the project company on the non-recourse project financing provided by OP Corporate Bank for the project. The construction works of the wind farm have already started and the commissioning is expected to take place during the last quarter of 2021...