HPP is advising Neste Oil group companies on the financial restructuring of the group’s ownership in its vessels. Neste Oil has announced its intention to divest five of its tankers and three tugs to companies owned by Finland’s National Emergency Supply Agency and the Ilmarinen Mutual Pension Insurance Company. The plan is to lease the vessels back to Neste Oil and they will continue to sail under the Finnish flag.
HPP advises Neste Oil on all legal aspects of the transaction. The HPP team is led by partner Björn Nykvist. “Assisting Neste Oil on this transaction has been extremely interesting. The transaction itself is a complex one and brings together HPP’s expertise in a number of areas in a wonderful way. Our role in the transaction establishes HPP as Finland’s leading law firm in maritime and transport transactions,” says Nykvist. Other key members of the HPP team include partners Henrik Gahmberg and Nora Gahmberg as well as senior associate Iiro Lähdevuori and associate Teresa Kauppila.
More information can be found in Neste Oil’s press release.