Vinge has advised Lantmännen in connection with the merger of Lantmännen Agroenergi and Neova´s wood pellets operations whereby Sweden’s largest wood pellets company is proposed to be created.
The merged company will be a 50/50 joint venture between Lantmännen and Neova with a turnover of more than SEK 1 billion. The merger includes Neova’s refined compacted biofuel operations in Sweden, which are conducted under the trademark Neovas Pellets, as well as Lantmännen Agroenergi’s operations in Sweden and Latvia, which are conducted under the trademarks Agrol and Agroenergi. Demand for refined biofuels is expected to increase significantly in Europe in the next few years.
The merger is conditional upon approval by the relevant competition authorities and other customary conditions to closing.
Vinge’s M&A team consisted of, among others, responsible partner Christina Kokko together with associates Johan Steen (project manager), Malin Buch and Nicolina Kindblom. Partner Marcus Glader and associate Grant McKelvey provided competition law advice.
Lantmännen is one of the Nordic region’s largest groups within farming, machinery, energy and foodstuffs and owns, among other things, the trade marks AXA, Kungörnen, GoGreen, Hatting, Schulstad and Gooh. Lantmännen is owned by 33 500 Swedish farmers and the group has approximately 8 600 employees, conducts operations in 22 countries and has an approximate turnover of SEK 33 billion. Lantmännen Energi is one of four divisions within Lantmännen and is Sweden’s largest bioenergy company conducting operations within bioenergy and green industrial products.
Vinge is Sweden’s leading full service corporate law firm with a strong operational focus on M&A. In 2013, the firm performed, among other things, the most M&A transactions in Sweden according to Mergermarket, the independent business management intelligence and analysis service. Vinge’s M&A team works closely with the firm’s other specialist practice groups within such areas as employment, intellectual property, IT, competition, environmental, real estate and tax, which means the firm’s clients can be sure that the right expertise is at their disposal within all areas.