News / 16 Dec 2014

Borenius Advised Taaleritehdas in Its EUR 60 Million Acquisition of Garantia

We advised Taaleritehdas in its EUR 60 million acquisition of Garantia Insurance Company from Varma, Ilmarinen, Elo, Etera, Veritas, Veho Group and Pensions-Alandia

Taaleritehdas Plc (an investment management company listed on the NASDAQ OMX Helsinki First North Finland focusing on private banking, asset management, private equity and financing services) has on 11 December 2014 agreed to purchase 100% of the shares in Garantia Insurance Company Ltd ( a non-life insurance company specialising in issuing guaranties for Finnish corporations) from Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company, Elo Mutual Pension Insurance, Etera Mutual Pension Insurance Company, Veritas Pension Insurance, Veho Group Ltd and Försäkringsaktiebolaget Pensions-Alandia Insurance. It is estimated that the acquisition will be finalised in the first quarter of 2015 and it is conditional on e.g. the permission of the Finnish Financial Supervisory Authority. 

The Borenius team was led by Partner Christian Fogelholm. The other team members were Specialist Partner Hannu Järvinen, Specialist Partner Johannes Ahti, Associate Jenny Shahnovskij and Associate Joel Kättö.

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