Heikki Majamaa
Heikki Majamaa
Heikki advises clients on all types of financing transactions, including bank lending, real estate and project financing, securitisation, sustainable finance, and issues in the area of property law, with a particular focus on complex issues.
Heikki's finance expertise covers many sectors, with a special emphasis on natural resources and infrastructure. He has advised on numerous complex investments into industrial and other infrastructure facilities. He also has substantial experience of restructuring and security enforcement procedures.
References
Parties
Oy Matkahuolto Ab (Buyer), Smartmile (Seller)
Transaction
Oy Matkahuolto Ab's acquisition of Smartmile’s entire network of 148 parcel lockers in Finland.
Deal Value
Value not public
Role
Counsel to Oy Matkahuolto Ab
Parties:
Prime Minister’s Office, Finnair Plc
Transaction:
Hannes Snellman acted as counsel to the Prime Minister’s Office in the rights offering of Finnair Plc, the Finnish airline with the State of Finland being the majority owner. Hannes Snellman advised, among other, on the share subscription made by the State of Finland by way of offsetting, in part, a capital loan provided by the State of Finland to Finnair, and related state-aid law matters. The rights offering of EUR 570 million is one of the largest rights offerings in Finland in recent years.
Deal value:
Approximately EUR 570 million
Role:
Counsel to Prime Minister’s Office
Counsel to Aareal Bank in arranging a senior secured financing for NREP’s Noli Studios co-living premises in the Herttoniemi residential area of Helsinki.
Parties:
Niam
Transaction:
Niam's acquisition of 26-storey office skyscraper, the fifth tower to be constructed by SRV in Kalasatama district in Helsinki on top of the shopping centre REDI.
Deal Value:
Value not public
Role:
Counsel to Niam
Parties
LähiTapiola Yhteiskuntakiinteistöt Suomi Ky (buyer), the Kirkkonummi Health and Social Services Centre (target), the Municipality of Kirkkonummi (seller)
Transaction
Counsel to LähiTapiola Yhteiskuntakiinteistöt Suomi Ky in the acquisition and financing of the Kirkkonummi Health and Social Services Centre from the Municipality of Kirkkonummi.
Deal value
EUR 63.5 million
Role
Counsel to LähiTapiola Yhteiskuntakiinteistöt Suomi Ky
Counsel to Exilion in the Construction and Financing of Isokangas and Palokangas Wind Farms. The projects will be constructed in Ii in northern Ostrobothnia, Finland, and will have an aggregate capacity of 100MW. The estimated yearly production of the two wind farms will be around 320,000 MWh. Our team advised Exilion in respect of negotiating turbine supply and services, balance of plant and financing agreements.
Parties:
Gasgrid Finland Oy, Excelerate Energy
Transaction:
Gasgrid Finland Oy's chartering of an LNG Floating Storage and Regasification Unit from Excelerate Energy.
Deal Value:
EUR 460 million
Role:
Counsel to Gasgrid Finland Oy
Parties
LähiTapiola Yhteiskuntakiinteistöt Suomi Ky
Transaction
Hannes Snellman acted as counsel to LähiTapiola Yhteiskuntakiinteistöt Suomi Ky in its arrangement for syndicated loan facilities for acquisition of Finnish properties
Deal Value
Value not public
Role
Counsel to LähiTapiola Yhteiskuntakiinteistöt Suomi Ky
Parties
Areim, Valio Pension Fund
Transaction
Acquisition of an office property, located in Helsinki at Kaikukatu 3 A, from Valio Pension Fund
Deal Value
Value not public
Role
Counsel to Areim
Parties
LAK Real Estate Oy, Kiinteistö Oy Apron
Transaction
Counsel to LAK Real Estate Oy in financing of hotel construction at Helsinki Airport
Deal Value
EUR 120 million
Role
Counsel to LAK Real Estate Oy and Kiinteistö Oy Apron and it's direct parent companies
Parties
Castellum, Kielo, Blackstone Tactical Opportunities, Brunswick Real Estate.
Transaction
Hannes Snellman acted as counsel to Castellum in its acquisition of property company Kielo from Blackstone Tactical Opportunities and Brunswick Real Estate.
Deal Value
EUR 640 million
Role
Counsel to Castellum
Parties
The State of Finland, Finnair Plc
Transaction
Counsel to the State of Finland in the hybrid loan arrangement with Finnair Plc
Deal Value
Up to EUR 400 million
Role
Counsel to the State of Finland (Prime Minister’s Office)
Counsel to Skandinaviska Enskilda Banken AB (publ) Helsinki Branch in the financing of forest asset secured green loan facilities up to EUR 350,000,000 in Finland.
Parties
Nykredit Realkredit A/S, Catella
Transaction
Counsel to Nykredit Realkredit A/S in refinancing of housing company portfolio located in the Helsinki region owned by Catella
Deal Value
Value not public
Role
Counsel to Nykredit Realkredit A/S
The Supreme Court decided the question of whether the bankruptcy estate is obligated to prepare an account to the mortgagee without delay after the sale of a parcel of real property registration unit, or alternatively, only after the real property registration unit is sold in its entirety under circumstances where allegedly the sold part could be of more value than the whole unit if sold unparcelled. Upholding the decisions of the lower courts, the Supreme Court came to the conclusion that the account and related payment must be made immediately after the sale of any part of the pledged property.
Parties
Nykredit Realkredit A/S, Nykredit Bank A/S, Areim, GE Healthcare Finland
Transaction
Counsel to Nykredit Realkredit A/S and Nykredit Bank A/S in financing the acquisition of an office building in Helsinki by Areim from GE Healthcare Finland
Deal Value
Value not public
Role
Counsel to Nykredit Realkredit A/S and Nykredit Bank A/S
Parties
DWS (Buyer), Lehto Group plc. (Seller)
Transaction
Acquisition of a residential portfolio comprising 542 apartments from Lehto Group plc.
Deal Value
Value not public
Role
Counsel to DWS
Counsel to a Finnish bank in a series of litigation against a company and the owner of the company in connection with collection of receivables, bankruptcy filing and enforcement of court judgements.
Parties
Deutsche Asset & Wealth Management
Transaction
Deutsche Asset & Wealth Management's acquisition of a prime logistics facility in Aviapolis. The acquired complex comprises 42,000 square meters spread across an extensive distribution warehouse, cross-dock facility and stand-alone office complex.
Deal Value
Value not public
Role
Counsel to Deutsche Asset & Wealth Management
Parties
Elementis plc (Buyer), Mondo Minerals B.V. (Target)
Transaction
A proposed acquisition of Mondo Minerals B.V. by Elementis plc
Deal Value
USD 600 million
Role
Counsel to Elementis plc
Parties
Keskinäinen Eläkevakuutusyhtiö Ilmarinen, Sotkamo Silver Oy
Transaction
Keskinäinen Eläkevakuutusyhtiö Ilmarinen's investment in connection with the issuance of the EUR 13,200,000 senior secured fixed rate notes by Sotkamo Silver Oy
Deal Value
Value not public
Role
Counsel to Keskinäinen Eläkevakuutusyhtiö Ilmarinen
Parties
LAK Real Estate Oy, Finavia Oyj, Pontos Aero Oy, fund managed by NREP
Transaction
Counsel to LAK Real Estate Oy as borrower for secured bank loan facilities entered into in connection with acquisition of a majority interest in Finavia Oyj’s subsidiary, LAK Real Estate, by Pontos Aero Oy and a fund managed by NREP
Deal Value
Value not public
Role
Counsel to LAK Real Estate Oy
Parties
OP Yrityspankki Oyj
Transaction
OP Yrityspankki Oyj's financing of total EUR 100,000,000 forest asset secured loan facilities in Finland.
Deal Value
EUR 100 million
Role
Counsel to OP Yrityspankki Oyj
Parties
Sampo plc, Terrafame Ltd
Transaction
Sampo plc's financing of Terrafame Ltd, a Finnish multi-metal company producing primarily nickel and zinc by bioheapleaching at its mine located in Sotkamo.
Deal Value
Value not public
Role
Counsel to Sampo plc
Parties
Lemminkäinen Corporation and YIT Corporation
Transaction
The combination of Lemminkäinen Corporation and YIT Corporation through a statutory merger
Deal Value
EUR 771 million
Role
Counsel to Lemminkäinen
Counsel to an international bank syndicate as a member of Creditors' Committee in an unique and complex cross border restructuring of a group of companies undergoing simultaneous formal restructuring proceedings in Finland and Sweden.
Parties
Eurus Energy Holdings Corporation (Buyer), Maas Capital Renewables (Seller) and YARD ENERGY (Seller)
Transaction
Eurus Energy Holdings Corporation's acquisition of two wind farms in Finland from Maas Capital Renewables and YARD ENERGY
Deal Value
Value not public
Role
Counsel to Eurus Energy Holdings Corporation
Parties
Veolia, Neste and Borealis
Transaction
A transaction creating a JV with Neste and Borealis to build a new combined heat and power plant and produce and supply steam and other utilities to Neste's refinery and Borealis' petrochemical plant in Porvoo, Finland
Deal Value
Approximately EUR 350 million
Role
Counsel to Veolia
Counsel to TuuliWatti Oy in permitting of several wind farms in Finland.
Memberships and Positions of Trust
- Member of the Finnish Bar Association
Publications
- "Direct agreement eli seuraantosopimus rahoitustransaktioissa", article published in the Finnish Bar Association's Defensor Legis Journal N:o 3, 2022
- "Sähköiset osakehuoneistorekisterimerkinnät rahoitustransaktioissa", article published in the Finnish Bar Association's Defensor Legis Journal N:o 6, 2020, regarding electronic housing share register entries in financial transactions.
- "Sähköiset panttikirjat rahoitustransaktioissa", article published in the Finnish Bar Association's Defensor Legis Journal N:o 3, 2017, regarding use of electronic mortgage notes in financing transactions. The article was rewarded with Law Journal Defensor Legis’ Authors’ Award 2017.
- Co-author with Markus Bremer, "Osakepanttirealisaation toteuttaminen itsekontrahointina", article published in the Finnish Bar Association's Defensor Legis N:o 4, 2010, regarding share pledge enforcement option through private sale to the pledgee.
Education and Professional Background
- Specialist Partner, Hannes Snellman, 2021
- Counsel, Hannes Snellman, 2017
- Legal Counsel (Secondment), Nordea Pankki Suomi Oyj, (December) 2014 – (March) 2015
- Senior Associate, Hannes Snellman, 2011
- Associate Lawyer, Hannes Snellman, 2007
- Trained on the Bench, District Court of Tuusula, 2006–2007
- Master of Laws, University of Helsinki, 2006