Eversheds Sutherland Finland Advised Kaleva Media On Strategic Merger With Ilkka

Eversheds Sutherland Finland Advised Kaleva Media On Strategic Merger With Ilkka

Due to this corporate arrangement, Ilkka Oyj will own 35% of Kaleva365 Oy while Kaleva Oy will own the remaining 65%.

A share exchange agreement has been signed by Ilkka and Kaleva under which the companies will merge their media businesses. There will be a share exchange wherein Oyj’s subsidiary, I-Mediat Oy, will be fully transferred to the ownership of Kaleva365. As a result of this corporate arrangement, Ilkka Oyj will own 35% of Kaleva365 Oy while Kaleva Oy will own the remaining 65%. The merger is intended to buttress regional media and ensure continuity of reliable, high-quality and independent regional journalism. It will also enable adequate investment in digital media development.

Kirsi Karvonen, Partner, EVS Finland, reportedly said, "It was a pleasure to advise on a transaction that strengthens the position of regional media in Finland and creates a solid foundation for developing journalistic content in the digital landscape. This arrangement demonstrates how collaboration can lead to sustainable and competitive solutions in an evolving media environment."

Partner Kirsi Karvonen led legal advisory supported by Partners Kaija Pulkkinen (Employment Law) and Olli Hyvönen (Competition law), Specialist Counsel Tiina Koivisto, Associates Alex Niva (Competition law) and Josefina Lind (Employment law), and Senior Legal Trainee Joona Eriksson.

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