HPP acted as legal counsel to Kymenlaakson Sähkö Oy in a transaction whereby Kymenlaakson Sähkö Oy acquired its own shares held by its largest shareholder, the Finnish city of Kotka by way of a directed acquisition of own shares.
The acquisition of the own shares was partly financed by a transaction whereby Kymenlaakson Sähköverkko Oy, a subsidiary of Kymenlaakson Sähkö Oy, sold a part of its electricity network to a third party financier under the conditions that the company will retain the control and the use of the network by leasing it back, and that the company will have an option to purchase the assets upon the termination of the lease period.
Also the senior bank loans taken out by Kymenlaakson Sähkö Oy and Kymenlaakson Sähköverkko Oy were refinanced in connection with the transaction.
HPP assisted Kymenlaakson Sähkö Oy in all legal aspects relating to the transaction, including negotiating the sale and leaseback and the financing agreements, and advising the company in the acquisition of own shares.
