10 February 2014

Gernandt & Danielsson advises Neova AB in pellet transaction

Gernandt & Danielsson advised Neova AB, a leading Nordic bio fuel supplier and part of the Finnish Vapo group, in the merger of Neova’s and Lantmännen’s respective wood pellet businesses. The new company will be leading in wood pellet production.

The new company, which includes Neova’s pellet business in Sweden and Lantmännen Agroenergi’s pellet business in Sweden and Latvia, will have an annual turnover of around one billion Swedish Kronor and have some 160 employees. The transaction is conditioned upon approvals from the relevant competition authorities.

Gernandt & Danielsson team has principally been led by partner Mats Hugoson and associate Daniel Gutman, assisted primarily by counsel Rolf Larsson and associates Sofia Ungh, Gabriel Zsiga, Cecilia Stridsberg and Henrik Appelqvist.