Mandate

Vinge advises Nordea and UBS in relation to Sanitec’s listing on NASDAQ OMX Stockholm

November 29, 2013

Vinge advises Nordea Bank AB (publ) and UBS Limited – joint global coordinators and bookrunners – in relation to Sanitec Oyj:s application for listing on NASDAQ OMX Stockholm. Sanitec’s principal shareholder is EQT. A prospectus was published on 27 November and the first day of trading on NASDAQ OMX Stockholm is expected to be 10 December.  

EQT may increase the offer and have also granted, among others, Nordea and UBS a customary over-allotment option. The total value of the offering amounts to approximately SEK 2.4 billion. Assuming the offering is increased in full, the total value of the offering amounts to approximately SEK 3.1 billion (and approximately SEK 3.6 billion assuming the over-allotment option is also exercised in full).  

Sanitec is the market leader in bathroom ceramics and a leading supplier of bathroom fixtures in its core markets (Belgium, Denmark, Finland, France, Germany, Italy, the Netherlands, Norway, Poland, Russia, Sweden, Ukraine, and the United Kingdom). Sanitec has leading positions (number one or two based on volume) in bathroom ceramics in 12 of its 13 core markets and command a strong position in growth markets, including Russia. Sanitec’s unique brand portfolio includes many of the longest-established and most well-known brands on the European bathroom fixtures market, including its ‘‘national jewels’’: Ifö® (Sweden and Denmark), Ido® (Finland and Sweden), Keramag® (Germany), Sphinx® (the Netherlands), Twyford® (United Kingdom), Allia® (France), Pozzi-Ginori® (Italy), Kolo® (Poland) and Colombo® (Ukraine). In 2012, Sanitec’s net sales amounted to EUR 752.8 million and the number of employees amounted to approximately 6,500.  

Vinge’s team consisted mainly of Peter Bäärnhielm and David Andersson.

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

European Commission provides sanctions compliance guidance

The European Commission has recently issued three opinions regarding the interpretation of asset freeze provisions in certain sanctions legislation pertaining to Central African Republic, Ukraine, Libya and Syria. The opinions are also of relevance for other sanctions regimes which provide for the same or similar restrictions. Therefore, their practical relevance goes far beyond the sanctions regimes in the context of which they were issued and they therefore provide for helpful guidance regarding the required thresholds for sanctions compliance generally.
September 20, 2021