Rankings, News/23 Apr 2016
Borenius Wins the Prestigious Chambers Europe Finnish Law Firm of the Year Award
Borenius won the “Finland – Law Firm of the Year” award at the Chambers Europe Awards Ceremony held on 22 April 2016 in London. Borenius was selected for the award among a total of five shortlisted law firms in Finland. The Chambers Europe Awards for Excellence recognize outstanding law firms on the basis of independent research carried out for Chambers Europe, a leading research firm and publisher of legal directories. According to Chambers & Partners, the awards reflect a law firm’s pre-eminence in its key practice areas as well as other notable achievements over the preceding 12 months including outstanding work, impressive strategic growth and excellence in client service.
"We are truly honored to receive this prestigious recognition which evidences that all our work to develop the firm has been noted by the market. Being able to provide market-leading legal service on a firm-wide level is all about people and leadership. I am proud to see that our focus on recruitment, robust learning programs and leadership now receives acknowledgement by one of the most respected authorities rating the legal market. I want to extend a humble thank you to all of our people as well as to all our clients who have trusted us with their demanding assignments" comments Casper Herler, Managing Partner of Borenius.
Borenius has, for instance, excelled in the following areas in the preceding 12 months:
#1 FIRM IN FINNISH IPOS WITH A 50% MARKET SHARE IN 2015
We had a record-breaking 50% market share of the Finnish IPOs completed in 2015 having acted as the issuer’s counsel in 6 out of the 12 IPOs completed in 2015. Our 50% market share of the IPO volume also corresponded to a similar market share in IPO value when calculated using the aggregate market capitalization of the 12 companies listed in Finland in 2015 (value at listing). Our success in IPOs has continued as we have acted as the issuers counsel in 2 IPOs in 2016 bringing the total count to 8 IPOs in the past 13 months.
40% INVOLVEMENT IN 2015 FINNISH REAL ESTATE DEALS
We were involved in 40% (in terms of value) of the real estate deals on the Finnish market in 2015, including among others advising Partners Group on its EUR 350 million property portfolio acquisition, Aberdeen Asset Management on its shopping centre acquisition in Helsinki, Ness, Risan & Partners on its EUR 120 million logistics property portfolio acquisition, Technopolis on its EUR 125 million joint venture, Citycon on EUR 130 million portfolio and single asset divestments, Ilmarinen on its EUR 62 million retail property portfolio divestment and SRV on its EUR 100 million Niittykumpu metro centre development and divestment.
LEAD COUNSEL IN THE LARGEST CORPORATE CRIME MATTER OF THE YEAR
We advised three of Talvivaara’s executives in the very extensive and multidimensional criminal proceedings regarding suspected aggravated impairment of environment at the Talvivaara Sotkamo mine in Finland. This landmark case involves in-depth interpretation of complex environmental permit regulations and assessment of very specific technical considerations as well as raises many questions regarding the most fundamental principles of criminal law.
COUNSEL IN A CRUCIAL EMPLOYMENT MATTER OF THE YEAR
We have successfully assisted SOS Children’s Village in a landmark dispute relating to the applicability of the Working Hours Directive. The case will continue in the European Court of Justice. The ruling will set a European wide precedent for 24/7 working model.
BIG TICKET PRIVATE EQUITY DEALS OF 2015
We advised Paroc and its sellers on the company’s EUR 700 million sale to CVC Capital Partners, which closed in February 2015. This was the largest PE deal in 2015. Also in February 2015, we completed the acquisition of CRF Health Oy to our client Vitruvian Partners. In October 2015, we advised again Vitruvian Partners in the acquisition of a majority stake in Accountor Holding Oy, the leading provider of financial, accounting and HR solutions in Northern Europe. The Accountor transaction closed in December 2015.
ANOTHER BUSY YEAR IN BANKING & FINANCE
Highlights from the past 12 months include: (i) assisting on the debt financing of the largest PE deals in Finland, namely the Vitruvian deals referred to above and assisting OP and the other finance parties in financing the acquisition of Touhula Varhaiskasvatus by funds managed by EQT, (ii) assisting Bank of America Merrill Lynch in the EUR 575 million refinancing of Logicor Oy, (iii) assisting the consortium of Outokumpu Oyj, SSAB Europe Oy, Skangass Oy and EPV Energia Oy in its project financing regarding the building and operation of an LNG terminal in Tornio, (iv) assisting on the refinancing of several large listed and non-listed Finnish corporates, such as DNA and (v) assisting both issuers and lead managers with bond issues, including advising Func Food Group and Sentica Partners in the financing of the acquisition of People’s Choice AB through a Nordic high yield issue.
TWO LANDMARK PATENT LAW VICTORIES IN THE FINNISH SUPREME COURT
In June 2015, the Finnish Supreme Court gave two preliminary rulings in patent disputes for the first time in almost 30 years. We successfully represented our clients in both of these cases. In the first case our client KRKA won its case against Merck and in the second case our client Actavis won its case against Novartis.
LANDMARK TAX DISPUTES
We are currently advising many of Finland’s largest companies on historically large transfer pricing disputes in Finland where tax authorities have claimed in aggregate hundreds of millions of euros for unpaid taxes, interests and punitive tax increases.