Magnusson acted as legal advisor to St1 Nordic Oy in the sale of St1 Lähienergia Oy to Geonova Oy

Magnusson acted as the seller’s legal advisor in a transaction in which the energy services company Geonova Oy acquired the entire share capital of St1 Lähienergia Oy. 

St1 Lähienergia Oy is part of the St1 Group and has, for almost 20 years, been a Finnish pioneer in geothermal heating, specialising in the design, implementation and ongoing services of geothermal projects. The company employs approximately 30 experts in the field and has been providing geothermal heat as a service for over a decade.

The transaction forms part of the St1 Group’s strategy to increasingly focus on promoting the energy transition in transport and exploring opportunities in the electricity market. 

Magnusson’s legal advice played a key role in ensuring the smooth execution of the overall transaction. Acting as the seller’s legal advisor, Magnusson was responsible for ensuring that the legal aspects related to the transaction structure were assessed thoroughly and proactively. The use of an experienced legal advisor contributed to the efficient and timely completion of the transaction, which was important for both parties given the growth dynamics of the industry.

Johanna Kurronen, Head of Legal Finland, St1 Nordic Oy, commented: “Working with the Magnusson team was very clear, and the cooperation went excellently throughout the entire process. Their legal expertise, combined with their quick responsiveness and solution-oriented approach, made the overall experience seamless. We particularly appreciated their responsiveness and the smooth collaboration between all parties involved.” 

Magnusson advised the seller at all stages of the transaction. The Magnusson team consisted of Partners Lilli Parbo and Tomi Merenheimo, Senior Associate Jediitta Tiainen, and Associate Milja Pietilä. 

Magnusson congratulates all parties to the transaction!