Castrén & Snellman and Walless advised Mandatum Life on the deal, Sorainen advised Invalda INVL.
Mandatum Life has signed an agreement to sell its life insurance business in the Baltics to the Lithuanian Invalda INVL group. In connection with the transaction, the entire Baltic life insurance business of Mandatum Life, including its employees, will be transferred to the Invalda INVL group. The transaction is estimated to be completed during the first half of 2022.
The Baltic operations consist of three branch operations: Mandatum Life Estonia, Mandatum Life Latvia and Mandatum Life Lithuania. The Baltic branches have 83 employees in total. The branches offer their clients life insurances and unit-linked investment products.
Mandatum is one of Finland’s most solvent and respected financial companies and part of the successful Sampo Group. Mandatum offers its private, corporate and institutional customers comprehensive services for building wealth and preparing for the future.
Invalda INVL is a leading investment management group which is open and growing, invests with clients, and creates well-being for people through its work. The group’s companies, operating in Lithuania and Latvia, serve more than 240,000 individual and institutional clients, both regional and international, who have entrusted the Invalda INVL group with EUR 1.3 billion of assets for management in a variety of asset classes, including pension and mutual funds, individual portfolios, and private equity and other alternative investments.
The Castrén & Snellman team included Janne Lauha (Picture), Carola Lindholm, Markus Rahnu, Sari Laaksonen, Sami Lommi, Kiti Karvinen and Joachim Wik.
The Walless team included Partners Sintija Radionova, Hannes Vallikivi, Rolan Jankelevitsh, Gediminas Reciunas, and Aiste Medeliene, Associated Partners Alina Makovska and Darius Miniotas, Senior Associates Kaisa Uksik and Enrika Tamasauskaite, and Associates Greta Liutkute, Baiba Krievina Sutora, and Kaisa Saarmann.
The Sorainen team included Partners Mantas Petkevicius and Tomas Kontautas, Counsels Janis Bite, Piibe Lehtsaar, and Monika Malisauskaite-Vaupsiene, Senior Associates Mindaugas Baniulis, Agne Sovaite, and Vitalija Impoleviciene, and Associate Nele Suurmets.
Involved fees earner: Kiti Karvinen – Castrén & Snellman; Sari Laaksonen – Castrén & Snellman; Janne Lauha – Castrén & Snellman; Carola Lindholm – Castrén & Snellman; Sami Lommi – Castrén & Snellman; Markus Rahnu – Castrén & Snellman; Joachim Wik – Castrén & Snellman; Mindaugas Baniulis – Sorainen; Janis Bite – Sorainen; Vitalija Impoleviciene – Sorainen; Tomas Kontautas – Sorainen; Piibe Lehtsaar – Sorainen; Monika Malisauskaite-Vaupsiene – Sorainen; Mantas Petkevicius – Sorainen; Agne Sovaite – Sorainen; Nele Suurmets – Sorainen; Rolan Jankelevitsh – Walless; Greta Liutkute – Walless; Alina Makovska – Walless; Aiste Medeliene – Walless; Darius Miniotas – Walless; Sintija Radionova – Walless; Gediminas Reciunas – Walless; Kaisa Saarmann – Walless; Baiba Krievina Sutora – Walless; Enrika Tamasauskaite – Walless; Kaisa Uksik – Walless; Hannes Vallikivi – Walless;