We acted as legal counsel in Fingrid ownership restructuring

This transaction constitutes the second phase of a broader ownership restructuring, in which we previously acted as legal counsel to the Finnish State in the Fingrid Oyj ownership arrangement signed on 5 February 2026 and implemented on 9 April 2026, whereby the State strengthened its position in the transmission system company. 

The total value of the first phase of the transaction, approved by the Council of State, was EUR 566.5 million, of which the State's acquisition accounted for approximately EUR 401.3 million. Under the arrangement, the Finnish State acquired the Series A shares of Fingrid from Mutual Pension Insurance Company Ilmarinen, with OP purchasing Ilmarinen's Series B shares.

Fingrid is responsible for Finland's national transmission grid and acts as the system-responsible transmission system operator under the Electricity Market Act. The company plays a central role in Finland's security of supply and national security in a changed operating environment. The arrangement strengthens the company's domestic ownership base.

Our work covered the full legal advisory scope of the transaction.

The matter was handled by Partner Harri Tolppanen.