News

Vinge represented Acta Asset Management and First Securities in the formation of Global Private Equity 2006

February 19, 2007

A Swedish-Norwegian AB and AS-based private equity fund-in-a-fund, which in a private equity context is considered a small depositer, has just completed a first round with a total equity capital of approximately SEK 500 million, of which SEK 350 million originate from Swedish depositors and the remaining capital from Norwegians. Behind the fund – Global Private Equity 2006 – stands Acta Asset Management and First Securities. The fund's equity capital topped with loans will initially be invested based on agreements with Auda Global Partners LP, but direct investments will also be made, corresponding to a maximum of 15-30% of the fund's equity capital. Future draw-downs and direct investments will be financed through a mix a (newly generated) private equity and loan financing. Geographically, Global Private Equity 2006 will focus on the USA as well was northern and eastern Europe. The shares will not be listed, but AAM will assist during second-hand sales under certain conditions.

From Vinge, the Stock and Corporate group (Rikard Stenberg, Dain Nevonen) and the Tax Group (Mattias Schömer, Maria Doser) assisted in the transaction, which was completed in close cooperation with AAM and First Securities as well as with the Norwegian legal advice firm of Schjödt.

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