Vinge Logotype
Svenska English 18D7E0DE-2035-40AE-A740-8F45A358A8F4 Login
  1. Home
  2. Mandates
  3. Vinge advises Dollar Financial Corp on its acquisition of Folkia
Mandate

Vinge advises Dollar Financial Corp on its acquisition of Folkia

August 30, 2010

Vinge is acting as Swedish counsel to Dollar Financial Corp in connection with Dollar Financial Corp's acquisition of Folkia Group AS, a leading Scandinavian internet lending business with headquarters in Stockholm, Sweden. Dollar Financial Corp is a leading international diversified financial services company primarily serving unbanked and under-banked consumers. Folkia, which was founded in 2006, currently originates loans through both internet and SMS text cell phone technology in four countries; Sweden, Finland, Denmark, and Estonia. The completion of the acquisition is contingent upon customary closing conditions, including local regulatory approval.

The Vinge team advising Dollar Financial Corp includes corporate partner Jan Byström and corporate associates Martina Engström and Anna-Sofia Nilsson Prevell. Partner Fredrik Dahl and associate Philip Watson are providing employment benefits advice. Partner Mikael Ståhl and associates Dan Hanqvist and Adam Weissbach are providing financial services and regulatory advice.

The Swedish rules on cabotage transport and posting will change on 2 and 21 February 2022

 The Swedish government has decided on a number of new rules concerning cabotage transports, combined transports, transport customer responsibility for driving and rest times and posting of workers.
January 21, 2022

Vinge presents the Swedish chapter for the 2022 version of The Legal 500: Private Equity Country Comparative Guide

 The guide provides an overview of the Swedish Private Equity market and the salient legislation in connection with PE transactions in Sweden.
January 11, 2022

The prohibition imposed by EU law on complying with secondary sanctions laid down by the United States against Iran may be relied on in civil proceedings

 On Tuesday 21 December, the EU Court of Justice delivered its long-awaited judgment in the Bank Melli Iran case (Case C-124/20) on the interpretation of the EU Blocking Statute regarding compliance with third country sanctions. According to the Court, the prohibition imposed by EU law on complying with secondary sanctions laid down by the United States against Iran may be relied on in civil proceedings. Following the Court’s judgment, anyone seeking to terminate a contract with a person or business subject to US sanctions must thoroughly consider if the termination is motivated by other reasons than the existing sanctions and reflect on whether to apply to the Commission for a derogation from the Blocking Statute.
December 23, 2021