Mandate

Vinge advises Irisity in conjunction with the acquisition of Agent Vi and a directed share issue

September 03, 2021

Vinge has advised Irisity AB (publ) in connection with its acquisition of all shares in the Israeli company Agent Video Intelligence Ltd for a purchase price of approximately SEK 580 million.

The purchase price shall be paid in cash, and in part by way of newly issued shares in Irisity. Closing is subject to a resolution adopted at Irisity’s extraordinary general meeting to authorise the board of directors to adopt a resolution concerning a non-cash issue.

In connection with the closing of the transaction, Vinge advised Irisity regarding a directed share issue that was performed as an accelerated bookbuilding arranged by Erik Penser Bank at a subscription price of SEK 49. Irisity received SEK 130 million before issue costs.

Vinge’s team consisted of Anders StridAnna Ståhlklo (M&A), Edin Agic (ECM) and Adrian Filipovic (ECM). S. Horowitx&Co acted as legal counsel in Israel in connection with the acquisition.

Arbitration proceedings between a Member State and an investor from another Member State further curtailed – the judgment of the EU Court of Justice in PL Holdings

Following the much debated judgment by the CJEU in Achmea, arbitration clauses in bilateral investment treaties between Member States under which an investor in one of those Member States may bring proceedings against the other Member State are considered incompatible with EU law. However, the judgment in Achmea seemed to leave it open whether an arbitration agreement between a Member State and an investor from another Member State not based on such a clause would be considered acceptable by the CJEU. Yesterday’s ruling by the Court in the Swedish case PL Holdings (Case C-109/20) dealt with one aspect of this question, resulting in further limits to investment arbitration in the EU.
October 27, 2021

New statute prohibits unfair terms and conditions and practices in conjunction with the purchase of agricultural and food products

The so-called UTP Act prohibits buyers from using certain terms and conditions and practices against suppliers of agricultural and food products. The Swedish Competition Authority exercises supervision and can, among other things, carry out unannounced inspections and order individual to attend formal interviews. In conjunction with violations, sanctions such as injunctions subject to a default fine or a sanction fee of up to one per cent of the buyer’s annual turnover can be imposed. The UTP Act will enter into force on 1 November 2021 and will also be applicable to contracts which are entered into prior to this date.
October 05, 2021

Vinge employs additional antitrust economists to further strengthen its practice

We welcome Adam Löfquist and Carl Widstrand to our EU, Competition & Regulatory practice group.
September 30, 2021