Mandate

Vinge has advised Scandic in connection with its rights issue and the agreement on new credit facilities

July 15, 2020

Vinge has advised Scandic Hotels Group AB (publ) on a fully underwritten rights issue, which will provide Scandic with issue proceeds amounting up to approximately SEK 1,765 million before deduction of transaction costs, and on the agreement of new credit facilities amounting to SEK 1,400 million.

The new shares are expected to be admitted to trading on Nasdaq Stockholm around 29 June 2020.

With 53,000 hotel rooms in operation at 268 hotels in about 130 locations, Scandic is the leading hotel company in the Nordic region. Most of Scandic’s hotels are operated under the fully-owned Scandic brand, which is the best-known hotel brand in the Nordics.

Scandic is listed on Nasdaq Stockholm, Mid cap.

Vinge’s team primarily consisted of Jesper Schönbeck, David Andersson, Amanda Knutsson, William Kåge, Anders Sundin Lundberg, Eléonore Friberg (Capital markets), Louise Brorsson Salomon, Thomas Sjöberg, Robert Wikholm, Linn Adelwald, Ludvig Wettergren and Elias Lundin (Banking and Finance).

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