Krogerus advised Loiste Oy in the partial demerger of Karhu Voima and the strategic sale of two companies formed through the demerger to Kotkan Energia.
The target companies operate the industrial electricity distribution network in the Karhula industrial area, sell and distribute natural gas mainly to industrial customers and provide related maintenance and other services. The annual revenue of the target companies is approximately EUR 10 million. Loiste (formerly part of E.ON's Finnish business) is an energy company involved in electricity sales, distribution and district heating business in Finland. In 2014, Loiste's revenue was roughly EUR 154 million.
The Krogerus team, led by partner Ville Hailikari, included partner Jarmo Makkonen, counsel Marjukka Sippola and associate Jarno Käkelä. In addition, partner Marko Vuori and associate Antti Luhtala advised on the demerger process.