ÅF €611 Million recommended cash Tender Offer for all shares in Pöyry


White & Case LLP has advised ÅF on the transaction

The offer amounts to €10.20 per share, which values the entire company at €611 million.

ÅF and Pöyry have signed an agreement to combine the two companies to form a leading European engineering and consulting company. Following the merger, the companies will continue to operate under the common brand ÅF Pöyry. ÅF will launch a recommended public cash tender offer to purchase all issued and outstanding shares in Pöyry. Four major shareholders of Pöyry have committed to being shareholders of the combined company in a directed share issue following the completion of the Tender Offer.

ÅF is an engineering and design company within the fields of energy, industry and infrastructure, based in Europe and operating globally. ÅF creates sustainable solutions for the next generation through talented people and technology. The company’s net sales in 2017 were SEK12,658 million, and it employs almost 10,000 experts across its 150 offices in 33 countries.

Pöyry is an international consulting and engineering company serving clients across power generation, transmission and distribution, forest industry, biorefining & chemicals, mining and metals, infrastructure and water and environment. Pöyry delivers smart solutions and works with the latest digital innovations. The company’s net sales in 2017 were €522 million, and it employs 5,500 experts at across its 115 offices in 40 countries.

The White & Case team which advised on the transaction was led by partner Petri Haussila (Picture) and included partners Tanja Törnkvist, Janko Lindros, Petri Avikainen (all Helsinki), Oscar Liljeson, Johan Thiman (Stockholm), Pontus Lindfelt (Brussels) and Daniel Levin (Washington, DC), with support from counsel Kristina Zissis (Hong Kong) and Sara Nordin (Geneva), and associates Heidi Hietanen, Essi Lavikkala, Benjamin Tuiskula, Oona Lilja, Jon Termonen, Liisa Rekola, Asta Tukiainen, Nikolas Limingoja (all Helsinki), Axel Fagerhall, Anders Karlsson, Elin Brännström, Björn Torsteinsrud (all Stockholm), Marika Harjula (Brussels) and Ashley Williams (Washington, DC) and Elodie Gal (New York).

Involved fees earner: Petri Avikainen – White & Case; Elin Brännström – White & Case; Axel Fägerhall – White & Case; Elodie Gal – White & Case; Marika Harjula – White & Case; Petri Haussila – White & Case; Heidi Hietanen – White & Case; Anders Karlsson – White & Case; Essi Lavikkala – White & Case; Daniel Levin – White & Case; Oona Lilja – White & Case; Oscar Liljeson – White & Case; Pontus Lindfelt – White & Case; Janko Lindros – White & Case; Sara Nordin – White & Case; Liisa Rekola – White & Case; Jon Termonen – White & Case; Johan Thiman – White & Case; Tanja Tornkvist – White & Case; Björn Torsteinsrud – White & Case; Ben Tuiskula – White & Case; Asta Tukiainen – White & Case; Kristina Zissis – White & Case;

Law Firms: White & Case;

Clients: ÅF AB;