Krogerus advises Attendo on successful completion of Mikeva acquisition
Krogerus advised Attendo AB (publ) on the successful completion of its EUR 150 million acquisition of Mikeva, a leading provider of care in Finland. The transaction was completed on 1 November 2017 following four-month merger control proceedings at the Finnish Competition and Consumer Authority (FCCA) that resulted in the unconditional approval of the transaction on 20 October 2017.
In July 2017, the FCCA had initiated a detailed review of the acquisition, as preliminary investigations suggested that it could have an adverse effect on competition in the market for social services.
During the review, the FCCA assessed the effect of the acquisition on enhanced residential services especially for the elderly, mental health rehabilitation patients and substance abusers as well as disabled persons. The FCCA commissioned a survey directed at small and medium-sized companies, analysed a large amount of bidding data and conducted a highly detailed effects analysis in several specific regions. The FCCA ultimately concluded that there was no significant impediment to effective competition and approved the transaction.
Partner Leena Lindberg led the advice on competition law matters. She was mainly assisted by associate Minna Siekkinen and competition law advisor Hanna Laurila. Partners Marcus Möller and Jan Johanson led the Krogerus team acting on the transaction.