Bird & Bird's Helsinki and Stockholm offices complete first joint Nordic M&A deal

11 August 2008

The Helsinki and Stockholm offices of Bird & Bird have advised Empower Oy on its acquisition of Comeva AB, a leading Swedish telecoms and electricity installation and maintenance service provider, for an undisclosed sum. The completion represents the firm's first joint Nordic M&A deal since the opening of its Helsinki office in May 2008.

Empower Oy – owned by AAC Capital Partners Holding BV (63.5 per cent) and the corporate management (36.5 per cent) following a change of ownership in 2008 - is one of the largest service providers in the energy, telecoms and industrial sector in Finland and the Baltic countries. The deal enables Empower to enter the lucrative Swedish market and provides the company with a platform for future international expansion.

The Bird & Bird team was led by corporate partners, Jori Taipale (Helsinki) and Andreas Börjesson (Stockholm), assisted by Stefan Wiklund (Helsinki) and Oskar Arndt (Stockholm).

Jori Taipale, Managing Partner of Bird & Bird's Helsinki office, said; “Being able to offer clients fully integrated cross-border counsel was a key driver behind the merger between Fennica and Bird & Bird. We were delighted to advise on Empower’s acquisition of Comeva as the deal confirms the strength of our newly integrated Nordic corporate capability.”

Bird & Bird’s International Corporate Group has over 100 lawyers specialising in M&A, joint ventures, strategic alliances, investment, equity financing, venture capital and public offerings.

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For more information please contact:
Derek Gilmour or Ben Girdlestone
Tel: +44(0)20 7415 6079 / +44(0)20 79826470
Email: derek.gilmour@twobirds.com or ben.girdlestone@twobirds.com

Notes to Editors

Empower Oy is one of the largest service providers in the energy, telecom and industrial sector in Finland and the Baltic countries. Empower operates in tens of locations in Finland, Estonia, Latvia, Lithuania and Russia. Empower’s turnover is 240 million euros and the number of personnel totals 2200, out of which 700 are in the Baltic countries. www.empower.fi

Comeva AB offers in the field of telecom and electricity installation and maintenance services. Comeva has been founded in 1994 and has 5 local offices with its HQ in Gothenburg. Comeva’s market area is Southern and Western Sweden. In 2007 Comeva’s turnover was 20 million euros (approx. 200 MSEK) and number of employees approx. 150. www.comeva.se

About Bird & Bird

Bird & Bird is a full service international commercial law firm with offices in Beijing, Brussels, Düsseldorf, Frankfurt, The Hague, Helsinki, Hong Kong, London, Lyon, Madrid, Milan, Munich, Paris, Rome and Stockholm.

For more information on Bird & Bird please go to www.twobirds.com