Practices

Tax

Languages

Finnish, English

Marika Sorsa

Counsel Tax

Practices

Tax

Languages

Finnish, English

Marika advises clients on domestic and international tax matters. She specialises in indirect taxation with a particular focus on VAT. Marika has experience of daily tax management, cross-border operations, and mergers and acquisitions in various lines of business.

Marika also has experience in lecturing on VAT-related topics for businesses, universities, and in-house.

Selected References

Counsel to Plantagen Finland’s bankruptcy estate, supporting the estate administrator in value added tax related questions regarding taking over the bankruptcy estate, realization of assets, managing the estate's premises, and other VAT related matters.

Contacts

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

Hannes Snellman assisted the client in an advance ruling process to confirm that certain services acquired regarding the target investment were considered VAT exempt management services of special investment funds and that the client did not have to pay VAT under the reverse charge mechanism. The matter was important to the client, as in practice it may vary what kind of services are needed to be acquired when acting as a lead investor or co-investor joining an investment at a later stage. The services in question formed a sufficient bundle of services qualifying for the criteria of VAT exempt financial services necessary for the client to be able to make the investment decision and similar investments in a more efficient way in the future as well. The Finnish tax authorities’ first opinion was that the services were VATable, but Hannes Snellman’s VAT team was able to change the outcome during the advance ruling process. The ruling is now final.

Contacts

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

Parties

Accel-KKR, Aico Group, Juuri Partners

Transaction

Accel-KKR’s majority equity investment in Aico Group

Deal Value

Value not public

Role

Counsel to Accel-KKR, a global technology-focused investment firm

Contacts

Parties

Häggblom & Partners Ltd. and the sellers, UB Nordic Forest Fund II LP, United Bankers

Transaction

Counsel to Häggblom & Partners Ltd. and the sellers in the sale of UB Nordic Forest Fund II LP. The sale of approximately 33,000 hectares of forest properties and partnership interests in UB Nordic Forest Fund II LP, managed by United Bankers, was agreed upon with MEAG, an asset management company of the Munich Re Group acting on behalf of its group client. Upon completion, the buyer will pay a total purchase price of approximately EUR 166 million.

Deal Value

Approximately EUR 166 million

Role

Counsel to Häggblom & Partners Ltd. and the sellers

Contacts

  • Matti Lajunen

    Partner +358 40 720 7036 matti.lajunen@hannessnellman.com

  • Panu Vikberg

    Senior Associate +358 50 411 4452 panu.vikberg@hannessnellman.com

  • Essi Peltoniemi

    Associate +358 45 155 1111 essi.peltoniemi@hannessnellman.com

  • Eemi Piirainen

    Associate +358 40 484 9299 eemi.piirainen@hannessnellman.com

  • Nora Mansikka

    Legal Assistant +358 40 559 2206 nora.mansikka@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Harri Vehviläinen

    Specialist Partner +358 40 183 1636 harri.vehvilainen@hannessnellman.com

Parties

TRP Hungary (Buyer), Bankruptcy Estate of KymiRing Oy (Seller), The KymiRing motor track (Target)

Transaction

Counsel to TRP Hungary in the acquisition of the KymiRing motor track from the bankruptcy estate of KymiRing Oy.

Deal Value

Value not public

Role

Counsel to TRP Hungary

Contacts

Parties

YIT Oyj (Seller), Renta Oy (Buyer), YIT Kalusto Oy (Target)

Transaction

Sale of fleet and equipment business and related arrangements

Deal Value

EUR 37 million

Role

Counsel to YIT

 

Contacts

Counsel a real estate company in a case regarding the VAT deduction of real estate investments. The Finnish Tax Administration had not accepted the VAT deductions made by the company because it had found that the premises were used for both VAT taxable and VAT exempt activities. In the case, it was evaluated from the VAT perspective how the leasing area can be determined per floor of the building while also considering how the premises are described in the articles of association.

Assisted by Hannes Snellman's tax team, the company appealed the Tax Administration’s decision to the Administrative Court and was able to prove that the premises were mostly used for purposes entitling to a VAT deduction, wherefore the company had had the right to deduct the VAT of the costs related to these premises that were used for VATable purposes. The company won the case in the Administrative Court, after which Hannes Snellman assisted the company with the preparation of corrective VAT returns and the refund of VAT that had been groundlessly left unrefunded.

 

Contacts

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Isabella Kartila

    Senior Associate +358 44 514 3829 isabella.kartila@hannessnellman.com

Parties:

YIT

Transaction:

Counsel to YIT in the disposal of its wind and solar business, comprising of 2.3 GW renewable energy projects and a team of 16 employees.

Deal value:

Value not public

Role:

Counsel to YIT

 

 

 

Contacts

  • Tapio Teräkivi

    Senior Partner +358 40 769 8273 tapio.terakivi@hannessnellman.com

  • Marjaana Martikainen

    Counsel +358 40 844 0174 marjaana.martikainen@hannessnellman.com

  • Elisa Panula

    Senior Associate +358 50 917 6807 elisa.panula@hannessnellman.com

  • Alisa Ainonen

    Associate +358 50 495 6363 alisa.ainonen@hannessnellman.com

  • Heikki Vesikansa

    Partner +358 40 844 2117 heikki.vesikansa@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Sofia Ropo

    Senior Associate +358 40 545 2866 sofia.ropo@hannessnellman.com

  • Harri Vehviläinen

    Specialist Partner +358 40 183 1636 harri.vehvilainen@hannessnellman.com

  • Salla Mäki

    Senior Legal Assistant +358 40 718 6808 salla.maki@hannessnellman.com

Parties:

United Bankers’ UB Timberland Fund (AIF), Taaleri Forest Fund III LP

Transaction:

United Bankers’ UB Timberland Fund (AIF) agreed to acquire Taaleri Forest Fund III LP. The forests managed by Taaleri Forest Fund III comprise 19 forest properties covering in total a surface area of approximately 7,650 hectares of which more than 6,400 hectares is productive forest land.

Deal value: 

Value not public

Role:

Counsel to United Bankers’ UB Timberland Fund (AIF)

Contacts

Parties 

Slättö Core Plus and PEAB

Transaction 

Hannes Snellman acted as counsel to Slättö in the formation of a joint venture with PEAB regarding investments into residential housing in Finland.

Deal Value 

Value not public

Role

Counsel to Slättö Core Plus

Contacts

Parties

Orange Capital Partners and another global investor (Buyers), Morgan Stanley (Seller)

Transaction

Orange Capital Partners' and another global investor's acquisition of a residential portfolio with 37 assets and 1,900 apartments from Morgan Stanley

Deal Value

Value not public

Role

Counsel to Orange Capital Partners and another global investor

Contacts

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

Contacts

  • Tapio Teräkivi

    Senior Partner +358 40 769 8273 tapio.terakivi@hannessnellman.com

  • Antti Nyberg

    Partner +358 40 838 9375 antti.nyberg@hannessnellman.com

  • Heikki Majamaa

    Specialist Partner +358 44 544 2873 heikki.majamaa@hannessnellman.com

  • Katja Heikkinen

    Specialist Partner +358 44 310 0290 katja.heikkinen@hannessnellman.com

  • Panu Vikberg

    Senior Associate +358 50 411 4452 panu.vikberg@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

  • Hanna Lindberg

    Associate +358 50 405 7168 hanna.lindberg@hannessnellman.com

Parties

MEAG (Buyer), YIT Oyj (Seller), Logistics property in Turku (Target)

Transaction

MEAG’s acquisition of a logistics property in Turku from YIT Oyj

Deal Value

Value not public

Role

Counsel to MEAG

Contacts

Parties 

LähiTapiola Kiinteistövarainhoito Oy, Tapiola Yhteismetsä

Transaction 

LähiTapiola Kiinteistövarainhoito Oy's establishment of the jointly owned forest Tapiola Yhteismetsä and the related service concept, which provides forest owners an opportunity to attach forest areas to the jointly owned forest, thereby receiving the benefits of professional, sustainable, and long-term forestry services as stakeholders of Tapiola Yhteismetsä.

Deal Value 

Value not public

Role

Counsel to LähiTapiola Kiinteistövarainhoito Oy

Contacts

Parties 

Areim (Buyer), Assai Commercial Oy (Seller), Office and retail property (Target)

Transaction 

Areim's acquisition of an office and retail property, located in Helsinki at Hämeentie 31

Deal Value 

Value not public

Role

Counsel to Areim

Contacts

  • Tapio Teräkivi

    Senior Partner +358 40 769 8273 tapio.terakivi@hannessnellman.com

  • Katja Heikkinen

    Specialist Partner +358 44 310 0290 katja.heikkinen@hannessnellman.com

  • Panu Vikberg

    Senior Associate +358 50 411 4452 panu.vikberg@hannessnellman.com

  • Antti Nyberg

    Partner +358 40 838 9375 antti.nyberg@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

Parties

Anora Group Plc (Altia Plc, Arcus ASA) and Galatea AB

Transaction

Required pre-closing divestment of Altia’s brands Skåne Akvavit, Hallands Fläder, and Brøndums and cognac brand Grönstedts (along with Arcus’s aquavit brand Akevitt Spesial and spirits brands S.P.R.T. and Dworek) to Galatea AB. The divestment to a suitable buyer was required by the Finnish, Norwegian, and Swedish competition authorities as a condition to their approval of the merger between Altia and Arcus to form Anora Group.

Deal value

Not public

Role

Lead counsel to Altia Plc (Anora Group Plc)

Contacts

  • Riikka Rannikko

    Managing Partner +358 40 731 1611 riikka.rannikko@hannessnellman.com

  • Robert Gordin

    Senior Associate +358 44 079 9799 robert.gordin@hannessnellman.com

  • Satu Kokko

    Senior Associate +358 40 838 9157 satu.kokko@hannessnellman.com

  • Panu Siitonen

    Partner +358 50 547 1377 panu.siitonen@hannessnellman.com

  • Mikko Huimala

    Partner +358 44 530 0753 mikko.huimala@hannessnellman.com

  • Essi Ellman

    Associate +358 40 832 4993 essi.ellman@hannessnellman.com

  • Piia Ahonen

    Specialist Partner + 358 44 520 8801 piia.ahonen@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

Parties 

eQ Commercial Properties Fund (AIF), Lehto Group, Kivistö local center

Transaction 

eQ Commercial Properties Fund's (AIF) acquisition of the Kivistö local center to be constructed by Lehto Group in the Vantaa Kivistö area

Deal Value 

Value not public

Role

Counsel to eQ Commercial Properties Fund (AIF)

Contacts

Parties 

Nyfosa Finland AB

Transaction 

Counsel to Nyfosa in acquisition of six properties in the Finnish cities of Hyvinkää, Oulu and Tampere. 

Deal Value 

Value not public

Role

Counsel to Nyfosa Finland AB

Contacts

  • Matti Lajunen

    Partner +358 40 720 7036 matti.lajunen@hannessnellman.com

  • Mikael Wood

    Associate +358 45 7833 4708 mikael.wood@hannessnellman.com

  • Marika Sorsa

    Counsel +358 40 707 1441 marika.sorsa@hannessnellman.com

Parties 

Quadoro Investment GmbH, YIT Construction Ltd.

Transaction 

Counsel to a fund managed by Quadoro Investment GmbH in an acquisition of a MEUR 32 office property located in Järvenpää with a lettable area of approximately 6,500 square metres from YIT Construction Ltd

Deal Value 

EUR 32 million

Role

Counsel to Quadoro Investment GmbH

Contacts

Parties 

Quadoro Investment GmbH, EKE-Construction Ltd.

Transaction 

Counsel to a fund managed by Quadoro Investment GmbH in an acquisition of an office property located in Espoo with a lettable area of approximately 4,200 square metres from the constructor EKE-Construction Ltd.

Deal Value 

Value not public

Role

Counsel to Quadoro Investment GmbH

Contacts

Parties

Virala Acquisition Company Plc

Transaction

Hannes Snellman acted as legal counsel to Virala Acquisition Company Plc on its IPO and the listing of its Class C shares on the SPAC segment of the regulated market of Nasdaq Helsinki

Deal Value

EUR 107.5 million

Role

Counsel to Virala Acquisition Company Plc

Contacts

Memberships and Positions of Trust

  • Member of the Finnish Bar Association
  • Member of the Association for Finnish Tax Professionals

Professional Background

  • Counsel, Hannes Snellman, 2024–
  • Senior Associate, Hannes Snellman, 2021–2024
  • PricewaterhouseCoopers Oy, 2014–2021
  • Deloitte & Touche Oy, 2011–2014
  • Uusimaa Tax Auditing Unit, 2011
  • Uusimaa Corporate Tax Office, 2011

Education

  • Master of Laws, University of Helsinki, 2010
  • Bachelor of Business Administration, Helia, 2005

Publications

  • Kiinteistöliiketoiminnan arvonlisäverotus, hard copy, 2023 (co-author)

Speaking Engagements

  • Hannes Snellman Tax Day, speaker, 2024
  • Hannes Snellman Tax and Bankruptcy Seminar, speaker, 2024
  • Business Arena, speaker, 2024
  • Aalto University School of Economics, lecturer, 2023
  • Ajantieto, lecturer, 2021