Roschier
10 Experts
3 Contributions by Roschier
PRACTICE NOTES
A discussion with Ami Paanajärvi, partner, and Juhani Matinlassi, senior associate, in the Helsinki office of Nordic law firm Roschier Attorneys Ltd., on key issues in foreign direct investment (FDI) control in Finland.
1. What is the applicable legislation?
This area is regulated by the Act on the Monitoring of Foreign Corporate Acquisitions in Finland (172/2012) (the MFCA).
2. Which government or other body (or bodies) reviews foreign investments?
Reviews are carried out by the Ministry of Economic Affairs and Employment (MEAE). If the MEAE decides to refer a case, it goes to the Council of State, which is the only authority empowered to prohibit an acquisition.
3. What is the scope of the foreign investment regime? Does it only apply to specific sectors or types of investors (eg foreign or non-EU / non-WTO)? Are there specific rules for certain types of investors (eg
Competition
PRACTICE NOTES
NOTE—To check whether notification thresholds in Finland and across the globe are met, see: Where to Notify.
1. There have been recent developments regarding the Finnish merger control regime. What are the main points of interest and are any further updates/developments expected in the coming year? Are there any other ‘hot’ merger control issues in Finland?
Finnish merger control is governed by the Competition Act (No. 948/2011), which took effect on 1 November 2011 and repealed the Act on Restrictions on Competition (No. 480/1992). Merger control provisions were first introduced into Finnish competition law on 1 October 1998. The 2011 Act revised the merger control framework, principally to align it more closely with EU rules. Notably, the former dominance test was replaced by the SIEC test used by the European Commission (Commission), and procedural rules were adjusted to further harmonise Finland’s process with that of the
Competition
PRACTICE NOTES
Loan market and developments
Activity in Finland’s corporate lending space has been broadly consistent over the past decade. That said, 2019 proved more animated, with a sustained rise in corporate loan values and a widening in the overall size of the market. Market sentiment is generally regarded as borrower‑friendly...
Financing structures once mainly tied to English law documentation—such as SSRCF+senior notes deals—have been adopted with growing frequency in transactions governed by Finnish law. Proportionally, the most active areas have been industrial, scientific and technical sectors, together with real estate finance...
Finland’s bond market was brisk in 2018, registering a 29% uplift in total value compared with the previous year. Nevertheless, the overall rate of expansion in the bond markets is easing...
Regarding forthcoming matters that may affect the loan markets, an electronic register for housing...
Banking & Finance
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