Commercial, corporate and M&A in Finland
Avance Attorneys Ltd is active in corporate transactions and regularly acts for businesses, investors, and private equity companies on a variety of high-value matters. The team's client list includes companies in the game development, energy, and real estate sectors. The team, which is jointly led by Ulf-Henrik Kull, Carl-Henrik Wallin, Mathias Lindqvist, and Ilkka Perheentupa, includes a high number of experienced transactional lawyers with international qualifications and experience.
Ulf-Henrik Kull; Carl-Henrik Wallin; Mathias Lindqvist; Ilkka Perheentupa
‘Very practical and solution-oriented approach.’
‘Carl-Henrik Wallin is a straightforward lawyer with excellent competence levels.‘
CVC Capital Partners
Small Giant Games
Adelis Equity Partners
- Advised Small Giant Games and its shareholders on its sale to Zynga for $700m.
- Advised Solidium on the planned partial demerger of Metso, whereby Metso’s Minerals business will be combined with Outotec.
- Advised MB Funds and other shareholders on the sale of Transval Group to Posti Group.
Dittmar & Indrenius advises on a range of complex high-value transactions in the corporate and private equity arenas, which often include cross-border elements; the team also has particular strength in energy and infrastructure deals. The practice is jointly led by Jan Ollila and Wilhelm Eklund, with 'excellent negotiator' and managing partner Anders Carlberg also recommended for his transactional capabilities. Prominent clients include Anamered Investments, Allianz and Aberdeen Standard Investments; the team also acted for Telenor on its €3.5bn acquisition of a majority stake in DNA and the subsequent mandatory tender offer. Gabrielle Dannberg was promoted to partner in early 2020, and Juha Nurminen is now at Dottir Attorneys Ltd..
Jan Ollila; Wilhelm Eklund
‘Responsive, to the point and solutions-orientated.‘
‘One of the pre-eminent corporate shops on the Finnish market. They combine technical excellence with pragmatism and efficient delivery, a magical combination. They have a very collaborative culture, which means we get the right lawyer for the right job. We have been consistently and highly impressed with their support on our transactions.‘
‘The team at Dittmar is very deal oriented and pragmatic.’
‘Anders Carlberg is an excellent negotiator, who is always available and responsive, to the point and solution orientated.‘
‘Jan Ollila is a seasoned and stable advisor, smooth and strong in equal measure. An excellent advisor when the going gets tough.’
‘Anders Carlberg has a real knack for bottoming out key issues and moving our deals forward effectively and successfully. He knows what he’s doing and it shows.‘
Macquarie Infrastructure and Real Assets (MIRA)
Allianz Capital Partners and the Finnish State Pension Fund
Aberdeen Standard Investments
Fennia Mutual Insurance Company
Providence Equity Partner
- Assisting Telenor with its €3.5bn acquisition of a majority stake in DNA one of the leading telecom operators in Finland, and subsequent mandatory tender offer.
- Advised Anamered Investments on its €4.6bn public tender offer for Amer Sports.
- Advised Macquarie Infrastructure and Real Assets (MIRA), Allianz Capital Partners and the Finnish State Pension Fund on their €3.9bn acquisition of Elenia, one of the largest energy and infrastructure transactions in Finland.
Hannes Snellman maintains its strong expertise in M&A and has recently advised on a number of high-value and cross-border deals. In a recent highlight, the practice assisted Outoutec with the merger between Outoutec and Metso Minerals involving a part-demerger of Metso. The practice is led by the highly regarded Sten Olsson, with Mikko Heinonen and Johan Aalto also highly recommended for their corporate governance advice and transactional work respectively.
‘Excellent knowledge of industry and great business understanding.‘
‘The team had capacity to approach the deal for different angles in a coordinated matter.‘
‘Mikko Heinonen – excellent overall commercial and governance advice.’
‘Exceptionally logical and analytical approach, great thinking and exceptional availability. Trust based relationships.‘
‘Mikko Heinonen is not only a great lawyer but also has excellent business acumen and can look at a transaction both in detail but more importantly also from a helicopter view w/o always including subject matter experts.‘
UPM Kymmene Group
Vaaka Partners Ltd
Sampo / If
Telia Company AB Group
Oy Karl Fazer Ab / Fazer Group
OP Financial Group
Ilmarinen Mutual Pension Insurance Company
Cramo / Adapteo
- Advised Outotec on the combination of Outotec and Metso Minerals, with combined revenue totalling €3.9bn.
- Advised Cramo on the partial demerger of Cramo whereby all of the assets and liabilities belonging to Cramo’s Modular Space business were transferred to Adapteo.
- Advised YIT on the sale of its paving and mineral aggregates businesses in Finland, Sweden, Norway, and Denmark to Peab for €280m.
Krogerus is a key name for high-value and high-profile deals spanning domestic and cross-border M&A transactions for financial institutions, private equity firms and investment funds alongside companies in several industries, including the telecoms, retail services, and mining sectors. In a substantial recent matter, the team advised DNA on the €3.1bn sale of 54% of its shares to Telenor, which will trigger a mandatory offer for its remaining shares. Mika Ståhlberg and Sami Martola jointly lead the practice, while experienced senior counsel Lennart Simonsen has worked extensively on transactions. Senior associate Taru Kovanen is also a key name to note.
Mika Ståhlberg; Sami Martola
‘Hands-on team that gives great attention to client service.’
‘Great flexibility in service delivery. Very experienced team with great knowledge of substance matters.’
‘My experience of working with the Krogerus Commercial, corporate and M&A team is entirely positive. Great attention and availability. The firm’s full service offering and including a strong tax practice is important for the type of work that I use them for.’
‘I really enjoy working with Sami Martola, who is a skilled transactional lawyer. Joakim Jansson seems to be up and coming and has been very good on a recent transaction.‘
‘Partner Sami Martola shows great flexibility when needed and can perform well in tight negotiations. He understands business issues well and can reflect those in high quality juridical advice.‘
‘Lennart Simonsen is a brilliant counsel, having a unique capability to lead large teams and act as lead counsel in the most complex transactions.‘
Nomo Kullager AB
Solera Holdings, Inc.
- Advised DNA on the €3.1bn sale of 54% of its shares to Telenor.
- Advises Compass Group on its €475m acquisition of Fazer Food Services.
- Acted for VR Group, the Finnish state-owned railway company, on the €225m sale of its subsidiary VR Track to Norwegian NRC Group.
Roschier combines strong expertise in public and private M&A, private equity, and large-scale cross-border transactions with high-end corporate knowledge on corporate governance, risk management, and board liability issues, particularly at the boardroom level. The practice is led by the highly-rated combination of Jouni Salmi, Jon Unnérus, Antti Ihamuotila, and Manne Airaksinen, who specialise in multi-jurisdictional transactions, private equity work, financing issues and corporate advisory work respectively. Clients include listed companies, private equity houses, banks and financial institutions, and prominent technology and telecoms companies. The team notably advised Tieto on its complex cross-border merger with Evry.
Jouni Salmi; Jon Unnérus; Antti Ihamuotila; Manne Airaksinen
‘Highly skilled with very good knowledge of the law; very professional.
‘Excellent client management.‘
‘Roschier’s team is extremely committed to delivering high quality services with a practical mindset.’
‘Roschier’s corporate team provided top quality M&A advice. They covered off the necessary technical aspects of Finnish law and market practice, as well as being commercially focused and understanding the broader context of the transaction.‘
‘Jon Unnérus is a great professional while being still practical – able to make the impossible possible. Manne Airaksinen is able to combine, in an exceptional way, deep juridical knowledge and common sense. The Best Lawyer in Finland in the context of governance matters.‘
‘Jouni Salmi was excellent to work with on an M&A transaction. He has a calm approach and makes his points clearly and articulately. He has strong technical skills, but delivers his advice within the context of the transaction and understands the underlying business drivers for the transaction. He was responsive and always willing to make himself available.’
‘Joni Salmi is a solid general advisor, excellent to drive project forward.‘
IK Investment Partners
Nets Holding A/S
Cognizant Technology Solutions Corporation
- Advised Tieto on its cross-border merger with Evry.
- Advised Loxam on its €970m voluntary public tender offer for Ramirent.
- Advised Fazer Group on its acquisition of Kaslink Group.
The practice at White & Case LLP, which is led by Timo Airisto, has a particular focus on high-value transactions especially public M&A deals. Buyer and seller clients encompass investment funds, companies and asset managers. The group is active in high-profile, high-value M&A transactions; a team led by Petri Avikainen and Airisto advised Amer Sports on the €4.6bn voluntary recommended cash tender offer made by Mascot Bidco, the largest recorded public tender offer for a Finnish listed company. Janko Lindros is a key contact for high-profile transactions and Petri Haussila has retired.
‘Well-positioned to handle complex cross-border transactions with a Finnish angle. Able to think commercially and give pragmatic advice in a solution-oriented way.’
‘In the Finnish market, they are able to provide advice under the different laws and market standards, quickly, efficiently and on a “one stop shop” basis.‘
‘Very committed partner with excellent availability throughout the whole project. Proactive approach to all legal related tasks. Business minded approach, which is very important in order to facilitate optimal outcome.’
‘Janko Lindros has broad experience from a diverse range of situations. We value Janko’s commercially-minded and pragmatic approach to legal advice. Can drive things forward efficiently behind the scenes so that we as the principal can focus on commercial / high-level issues in transactions.‘
Amer Sports Corporation
The Blackstone Group, L.P.
Highland Europe (UK) LLP
M&G European Property Fund
- Advised Metso on the combination of Metso Minerals and Outotec through a partial demerger of Metso.
- Advised ÅF on its €611m recommended public cash tender offer for all issued and outstanding shares in Pöyry.
- Advised Amer Sports on a €4.6bn voluntary recommended cash tender offer by an international investor consortium.
Borenius has a notable focus on private equity and cross-border M&A transactions and acts for a roster of clients from the investment fund, healthcare and IT sectors. The team advises on the buy and sell-side of transactions; it recently handled the Finnish healthcare provider Coronaria's cross-border divestment of Coronaria Hoiva to Swedish company Humana for €71m. The practice is jointly led by the 'hands-on' Johannes Piha and the 'reliable and diligent' Johan Roman, with Jyrki Tähtinen also praised for his 'strong commitment' to clients.
Johannes Piha; Johan Roman
‘The output from Borenius’s M&A team is always very high quality regardless of the nature of the task.’
‘High level of service, wide competence across the whole team and most importantly a can-do attitude.’
‘Longstanding fruitful co-operation. Easy access, valuable advices and always drive for solution.‘
‘The Borenius team are helpful and user-friendly to an English-speaking audience. They work hard and have an excellent team dynamic with legal teams in other jurisdictions.‘
‘Great teamwork! Borenius had their entire team thoroughly prepared for every negotiation throughout the entire deal process.’
‘Jyrki Tähtinen, shows very strong ownership of the case and utilizes resources in a client friendly manner, never jeopardizing the quality of the work.’
‘Johan Roman is a hands on advisor with a good business perspective.’
‘Johannes Piha is pragmatic, diligent and careful about the client relationship.‘
‘Jyrki Tähtinen really impressed us with his experience and capability to always concentrate on the right topics without spending any unnecessary time on the secondary items.‘
Vitruvian Partners LLP
Synlab International GmbH
- Advised Coronaria on its divestment of Coronaria Hoiva to Humana, a transaction worth €71m.
- Advised Ramirent on entering into a long-term cooperation agreement with SRV Group.
- Advised CapMan on acquiring a controlling stake in JAM Advisors.
Castrén & Snellman advises on cross-border M&A transactions involving numerous international clients and targets. The experienced and 'agile' team has expertise across multiple industries and is also highly active in restructuring mandates. The practice is jointly led by Jan Örndahl, Jarno Tanhuanpää, Carola Lindholm and Pauliina Tenhunen, and Benjamin Bade made partner in 2019; Bade has notable capabilities in international transactions and corporate governance work. In a recent highlight, the group advised a consortium led by Mirova and Infranode on its €200m acquisition of shares in Loiste. Kimmo Rekola has retired.
Jan Örndahl; Jarno Tanhuanpää; Carola Lindholm; Pauliina Tenhunen
‘Superb quality of work in all occasions and phases of the project.’
‘Excellent team coordination and prompt placing of adequate capacities, according to the need of the evolving situation.‘
‘Agile team built for our transaction. No fuss, no need to go through a partner every time when the senior was on top of things. Smoot and fast.‘
‘Benjamin Bade is outstanding.‘
‘Stand out distinctive level of partner work by Pauliina Tehnhunen.‘
Nordea Bank Abp
Collector Bank AB
Finnish Industry Investment Ltd
- Advised Digia on its €9.4m acquisition of the entire share capital of Accountor Enterprise Solutions.
- Advised on Pohjola Health’s sale of its occupational health services business to Mehiläinen.
- Advised a consortium formed by French company Mirova and Swedish company Infranode on the acquisition of a 34% stake in Loiste for €200m.
HPP Attorneys advises on a varied array of transactions, with particular strength in international M&A and private equity deals for clients in the technology, real estate and renewable energy industries. The group's client list spans energy companies, public authorities and investment funds. Practice head Antti Säiläkivi is experienced in fund formation and private equity fundraising deals, while Andrew Cotton works closely with international investors including Heraeus Holdings and DoubleVerify; Cotton advised the latter on its acquisition of Finnish AI platform Leiki.
Etera Mutual Pension Insurance Company
Terrafame Group Limited
Aquila Capital GmbH
Silmäasema Optiikka Oy
City of Helsinki
Taaleri Energia Oy
Heraeus Holdings GmbH
- Advising PHP Holding on the €1.5bn sale of its shares in DNA to Telenor Group.
- Advised Heraeus Holdings on all aspects of its investment into Forcit.
- Advised DoubleVerify on its acquisition of Leiki, a Finnish AI platform provider.
Maria Carlsson and Mikko Ahonen jointly lead the practice at Bird & Bird, which specialises in cross-border transactions across a variety of industries including the mobility, finance and technology sectors. In a notable public sector mandate, Carlsson advised the Ministry of Transport and Communications on establishing the new state-owned company Traffic Management Finland Group, which will manage all traffic control services in the maritime, railway and road transport sectors in Finland. The group is also a key name for private equity clients including Terra Firma and recently bolstered its financial expertise with the arrival of Mika Puurunen from an in-house position at OP Corporate Bank.
Maria Carlsson; Mikko Ahonen
Ministry of Transport and Communications
- Advised Terra Firma on its acquisition of Parmaco Group from Finnish private equity group MB Funds.
- Advised the Ministry of Transport and Communications on the establishment of the new state-owned company Traffic Management Finland Group including several M&A transactions.
- Advised SPX Corporation on the purchase of the Sabik Marine and obstruction lighting business from Carmanah Technologies, which involved SPX purchasing the stock of the subsidiaries in Finland, Estonia, the UK and Singapore as well as certain operating and IP assets in Canada and the US.
DLA Piper has a strong track record in mid-market M&A and private equity transactions, utilising the firm's international and Nordic reach to advise on cross-border deals for a client roster of foreign multinationals including chemicals, retail and IT companies. The practice is led by experienced lawyer Ilkka Liljeroos, who handles transactions and corporate advisory matters. M&A lawyer Matti Ylä-Mononen is also a key name to note.
‘Client-friendly, open, timely, and professional service.‘
‘Ilkka Liljeroos and Antti Eeva are very hands-on in engagements and I can rely on them to think of those matters that are not on my mind.‘
Croda International Plc
Dustin Group AB
Brockwell Capital Limited
- Advising Kaslink and its shareholders on the sale of the company to Oy Karl Fazer.
- Advising Infosys on its acquisition of Fluido.
- Advising MB Funds on the acquisition of a majority stake in Raksystems Insinööritoimisto.
The emerging practice at Dottir Attorneys Ltd. specialises in technology transactions and is a key contact for funds, including CapMan, Maki.vc, and NordicNinja, on their investments into technology companies and financing matters. The team is led by transactional lawyer Juha Nurminen, who joined from Dittmar & Indrenius in early 2019 and bolstered the firm's M&A offering. In a recent highlight, Nurminen advised CapMan, Finnish Industry Investment and First Fellow on their €12m investment into nanotechnology developer Picosun.
Finnish Industry Investment
- Advised Bublar Group on its acquisition of Sayduck.
- Advised the minority shareholders of Financier Group on its acquisition of the Palace and Savoy restaurants.
- Advised the founders and the management shareholders of Flow Festival on an investment by Superstruct Entertainment.
The practice at Magnusson is led jointly by Heikki Wide, Ville Salonen, Tomi Merenheimo, and new hire from Ernst & Young, Kirsi Putkonen, who brings extensive corporate, regulatory and transactional experience to the team following her arrival in mid-2019. The group handles cross-border transactions in the Nordics and beyond with notable expertise advising international clients in the mining and mineral industry and investors. In a recent mandate, the team advised on the cross-border €51m sale of 49% of the City of Riihimäki's district heating company to Aberdeen. The practice was further bolstered by the arrivals of Jussi Rintanen and Kaija Pulkkinen from Sivenius, Suvanto & Co Oy and Ernst & Young respectively.
Heikki Wide; Kirsi Putkonen; Ville Salonen; Tomi Merenheimo
‘Very close and seamless co-operation internally and externally.’
‘Flexible and customer-oriented. They listen and they have resources available.’
‘Excellent capability to make game plans for different cases.’
City of Riihimäki
Magnus Minerals Oy
St1 Group Oy
FCG Finnish Consulting Group
Eesti Energia AS
Sofigate Group Oy
Altus Capital Limited
FireFox Gold Corp.
Arctic Machine Oy
- Advised on the sale of 49% of Riihimäki’s District Heating Company including assisting with the tender procedure and documentation, handling negotiations with tender participants, advising on due diligence process and preparing and negotiating the share purchase agreement.
- Providing legal advice on corporate, environmental and mining law matters to FireFox Gold, a company with a Canadian parent focusing entirely on gold exploration in Finland.
- Provided legal advice on corporate, environmental and mining law matters to Altus Capital including as an investment bank and sponsor on the listing on the Hong Kong Stock Exchange of Dragon Mining.
The practice at Waselius & Wist specialises in cross-border transactions acting as local counsel on several high-value deals and regularly advising foreign buyers. Christoffer Waselius and Fredrik Lassenius co-lead the team, which also advises industrial clients in the technology, transport, and telecoms sectors alongside financial institutions. The group recently advised Norwegian infrastructure company NRC Group on its €225m acquisition of VR Track, a subsidiary of the Finnish state-owned railway operator VR Group. Tarja Wist has left the firm.
Christoffer Waselius; Fredrik Lassenius
‘An experienced team; flexible and quickly available in urgent cases.’
‘They are easily the best firm we have experienced in Helsinki. The firm is a crucial support to our Finnish operations. The attitude is very commercial and advice is very practical. As with other leading firms, they strive to assist.’
Maksuturva Group Oy
Cerberus Capital Management
Secto Automotive Oy
- Advised NRC Group on its €225m acquisition of VR Track.
- Advised OpenText on its $310m acquisition of Liaison Technologies.
- Advised Francisco Partners on its €3.4bn acquisition by Verifone Systems.
Eversheds Asianajotoimisto Oy / Eversheds Attorneys Ltd (a member of Eversheds Sutherland) provides a joined-up approach to transactions with the firm's international reach granting it strong capabilities in cross-border M&A transactions in the healthcare, transportation and telecoms industries. The team advises industrial clients and investors on the buy and sell-side of transactions and also handles other corporate and regulatory work. The practice is jointly led by Olli Iirola, Harri Tolppanen, Vesa Turkki, and Mika Taberman.
Olli Iirola; Harri Tolppanen; Vesa Turkki; Mika Taberman
Digitalist Group Plc
Enersense International Oyj
Koiviston Auto Group
- Advised Enersense International on the acquisition of Värväämö.
- Advised Koiviston Auto Group on its acquisition of OnniBus.com’s entire share capital.
- Advised Revenio Group on its acquisition of CentreVue for €59m.
Led by Mikko Räsänen and Samuli Koskela, Lexia Attorneys Ltd assists clients with day-to-day corporate advisory work and also advises on M&A transactions. The team is active in transactional work and recently acted on a number of deals in the technology and healthcare industries, where it primarily acts for businesses and investment funds on the sell-side of matters.
Mikko Räsänen; Samuli Koskela
Three Plus Group Oy
Suomen Hoivatilat Oyj
- Advised PlayRaven on its sale of shares to Rovio Entertainment.
- Advised Cinia Oy on its acquisition of the entire share capital of Netplaza.
- Advised RemoteA on the sale of its medical remote diagnostics service platform and the product rights of the related medical measurement devices and their interfaces to Bittium Medanalytics.
Mäkitalo Attorneys Ltd provides corporate advice to a number of clients in the energy industry including nuclear and renewable energy companies. The group focuses on day-to-day matters and assists with M&A transactions. The firm also acts for the Finnish Ministry of Finance as legal adviser on corporate and M&A issues. Ville Vyyryläinen and Jani Rantanen jointly lead the department.
Ville Vyyryläinen; Jani Rantanen
‘Pragmatic and solution-oriented. Easy to communicate with and always focused on the essential issues.‘
‘Ville Vyyryläinen is always ready to take up a new challenge, and understands where the strategically important points are. Does not wast time on useless battles over less important details.‘
Ministry of Finance
Koillis-Satakunnan Sähkö Oy
SMA Group Oy
Nordic Biotech Group Oy
Straightforward Capital Fund Ky
Etelä-Suomen Voima Oy
Suomen Voima Oy (Finnish Power Ltd)
SF Power Company
Luxus Advertising Limited
- Advising the Finnish Ministry of Finance on several matters relating to corporate and M&A law.
- Advising Temet on several cross-border corporate governance matters.
- Advising Koillis- Satakunnan Sähkö on complex shareholder agreement issues.
The practice at Merilampi Attorneys Ltd advises on public and private corporate M&A transactions between domestic and international clients. Jani Ylä-Autio leads the practice, which acts for clients including Škoda, Nordea Bank and Elisa. Antti Kahri is praised for his specialisation in M&A and private equity work; he recently advised Posti Group on its acquisition of Transval Group. Lassi Ketula and Jussi Lampinen departed to Merkurius Attorneys.
‘Dedicated, hardworking, individual responsibility is never diluted to the team. The responsible partner is always on top of things. One contact point approach, which is highly appreciated.‘
‘Very “straight to the point” attitude and constructive, bringing efficiency and savings for the client.‘
‘Antti Kahri is responsive and knowledgable.‘
‘They are more inclined to think of the client’s best interests, knowing the way the deals are done and not inflating their billing.‘
‘Jani Ylä-Autio is a highly recommendable attorney with excellent negotiation skills and customer approach.’
Škoda Transportation Group
Elo Mutual Pension Insurance Company
Magenta Advisory Oy
Nordea Bank AB
- Advised Svenska Handelsbanken on the sale of shares in Samlink to Cognizant Technology Solutions.
- Advised Kesko on the acquisition of the food service wholesaler Heinon Tukku from Tukkuheino and private individuals.
- Advised Total Specific Solutions on the acquisition of Arter.
Procopé & Hornborg focuses on M&A transactions, particularly those with cross-border elements, and regularly advises clients in the engineering, technology and private equity sectors. Petri Kyllönen, Ismo Hentula and Pia Tanskanen jointly lead the practice, which expanded its corporate expertise with the arrival of Tanskanen from an in-house position with SSAB Finland in 2019. In a recent highlight, Kyllönen leveraged the team's cross-border expertise to advise Etteplan on its acquisition of EMP Engineering Alliance in Germany.
Petri Kyllönen; Ismo Hentula; Pia Tanskanen
‘Excellent corporate and resources practice in Finland.‘
Gold Fields Limited
Viafin Service Plc
EPV Energia Ltd
Pohjolan Voima Ltd
- Advised Viafin Service on its acquisition of Gasum Tekniikka from Gasum.
- Advised Sponsor Capital and its management on the divestment of Plastiroll to Walki Group.
- Advised Etteplan on its acquisition of EMP Engineering Alliance in Germany.
Attorneys-at-law Trust. Ltd
Attorneys-at-law Trust. Ltd is a key name for transactional work and is particularly active for smaller clients in the tech industry. The team's technology focus was further strengthened in 2019 by the arrival of Juha Taipale from Eversheds Asianajotoimisto Oy / Eversheds Attorneys Ltd (a member of Eversheds Sutherland); other key individuals include practice co-heads Jan Lindberg and newly promoted partner Anne-Marie Malmberg.
Jan Lindberg; Anne-Marie Malmberg
Arctic Security Oy
Lhj Group Oy
Mash Group Plc
POP Bank Group osk
Talokeskus Yhtiöt Oy
Tietokeskus Finland Oy
- Advised Loimi-Hämeen Jätehuolto on its acquisition of shares in Westenergy.
- Advised Tietokeskus Finland on its acquisition of Tamico.
- Advised eCraft on its acquisition of the Microsoft Dynamics business of Evry Finland.