SORAINEN Advised Cross-Border Merger of Seesam
OREANDA-NEWS. February 07, 2012. SORAINEN advised the cross-border merger of the Baltic subsidiaries of Seesam, a major Finnish listed insurance company, reported the press-centre of SORAINEN.
A cross-border merger of the insurer's Baltic operations was carried out in an effort to cut solvency margins and streamline the company's regional services. Seesam Insurance is now registered in Estonia and will continue to operate through its branches in Latvia and Lithuania.
Considering the interests of various stakeholders, SORAINEN lawyers actively cooperated with the insurer's in-house lawyers and financial advisors in an effort to carry out the merger in a highly challenging timeframe. In addition to corporate advice on drafting agreements, reports and meeting minutes, the assignment included planning and coordinating the whole merger process while complying with the regulations of local Financial Supervisory Authorities.
Seesam's pan-Baltic cross-border merger was advised by a team led by partner Tomas Kontautas. Additionally, the team included managing partner Pekka Puolakka and associate Karl J. Paadam from Estonia, partner Eva Berlaus and associate Zanda Braksa from Latvia, and partner Algirdas Peksys and associate Ina Budelinaite from Lithuania.