Krogerus

Year 2022 has included several significant legislative reforms in the field of employment law. Now is the time to look at some of these legislative changes that are coming our way. Implementation of the directive on transparent and predictable working conditions have already come into force The amendments to the Finnish Employment Contracts Act concerning the implementation of the directive 2019/1152 actually already entered into force on 1 August 2022 but has received significantly less attention than the new family leave reform, which also entered into force on the same day...

This newsletter features a look into ongoing Finnish legal reforms and recent law. The Finnish Competition and Consumer Authority's jurisdiction in merger control to be expanded by lowering turnover thresholds The Finnish Ministry of Economic Affairs and Employment published in June 2022 a draft government bill on lowering the Finnish merger control turnover thresholds. According to the draft bill, a transaction would be subject to a mandatory notification if the parties' combined Finnish turnover exceeds EUR 100 million and the Finnish turnover of at least two parties exceeds EUR 10 million per party...

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...