Bird & Bird Advises on Joint Venture in Sweden

22 November 2002

International law firm Bird & Bird has just advised mining company LKAB on a joint collaboration with SchlumbergerSema which will lead to the creation of a company specialising in IT infrastructure. The new company is expected to have a turnover around SEK 70 million ($7.6 million) during the first year and will trade under the name SchlumbergerSema Norr AB.

Based in Sweden, LKAB (Loussavaara-Kiirunavaara Aktiebolag) is an international, high-tech ore processing company and the only exporter of iron ore products within the European Union. The collaboration with SchlumbergerSema will allow LKAB and SchlumbergerSema to share its respective expertise in IT. Large parts of LKAB´s IT-operations will be managed by the new company while also extending its services to clients throughout Sweden.

Bird & Bird acted on all the legal aspects of IT relating to the partnership, as well as all corporate aspects of the joint venture. Jim Runsten led the work.

Commenting on the arrangement, Managing Director Martin Ivert from LKAB said:

“We hope that this will lead to the creation of a market-leading company in the field of IT infrastructure. Bird & Bird were supportive and very efficient through all stages of the joint venture.”

Commenting on behalf of Bird & Bird, Jim Runsten added:

“This was a very exciting deal to have been involved in and we look forward to the development of the new company”.

For more information, please contact Jim Runsten on +46 (0) 8 506 320 00 or Larry Cattle, Director of Marketing, on + 44 (0) 20 7415 6156.