Krogerus advises HKScan on sale of its Swedish business to Lantmännen
Krogerus advised HKScan Corporation on the sale of its shares of its Swedish subsidiary HKScan Sweden AB to the Swedish Lantmännen ek för, an agricultural cooperative and a leading operator in the agricultural, machinery, bioenergy and food industries in Northern Europe.
The purchase price for the shares in HKScan Sweden AB amounts to approximately EUR 60 million in cash as well as the A shares (6,869,750) and K shares (665,000) in HKScan Corporation held by Lantmännen. Lantmännen will also repay an intragroup loan between HKScan Corporation and HKScan Sweden AB to the amount of approximately EUR 50 million. HKScan Corporation will reduce off-balance sheet factoring financing of approximately EUR 55 million and approximately EUR 13 million of IFRS 16 leasing liabilities. The transaction is expected to be closed in the first half of 2024 and is subject to clearance by the EU Commission and further clearance by the Swedish authorities for foreign direct investment (FDI) control.
The Krogerus team was led by Partner Mika Ståhlberg and he was primarily assisted by Senior Associate Andreas Brink and Associates Tiina Jauhiainen, Kaarle Kivimäki and Tuuli Merikallio. Partner Tom Fagernäs advised on financial regulatory matters and he was assisted by Partner Marko Vuori and Senior Associates Joel Kanervo and Markus Laine. Partner Mika Puittinen advised on carve-out and IT-related matters and he was assisted by Senior Associates Alexander Bützow and Iiris Rantanen. Partner Kalle Hynönen advised on intellectual property matters and he was assisted by Associates Annaleena Hakala and Maria Lilius. Counsel Alina Böling advised on regulatory matters and she was assisted by Senior Associate Eveliina Tanskanen and Associate Oskar Kaskela. Partner Heidi Kivenjuuri advised on financing and she was assisted by Senior Associate Riina Toivonen-Vuong and Associate Elina Terho. Partner Samu Lassila advised on tax matters and he was assisted by Senior Associate Jemiina Pohja.