Krogerus advises Vapo in the establishment of a joint venture focusing on heat investments

Krogerus advised Vapo Oy in the establishment of a joint venture, Vapo Lämpövoima Ky, focusing on heat investments as an energy partner for industries, cities and municipalities.

The ownership of Vapo Lämpövoima Ky is contemplated to be divided between Vapo, OP-Eläkekassa, OP Vakuutus Oy, OP-Henkivakuutus Oy and Otso Infrastruktuuri I Ky, a vehicle in which said OP investors hold interests.

Vapo is a developer of bioenergy in Finland and the Baltic Sea region and a leading peat industry company owned by the State of Finland and Suomen Energiavarat Oy.

The establishment of Vapo Lämpövoima Ky is subject to regulatory approvals of the EU competition authorities. A decision is expected in April 2018.

The Krogerus team was led by partner Ville Hailikari. He was mainly assisted by partner elect Pyry Somervuori who led the advice on joint venture formation. Partner Leena Lindberg led the advice on competition law matters and she was assisted by senior associate Jarno Käkelä.