Sweden

About

Centrally positioned in northern Europe, Sweden is the largest market in the Nordic region. The country is a global leader in innovation, with a highly skilled labour force, sophisticated consumers, smooth business procedures, openness to international ownership and a stable economy.

What we offer is unique in Stockholm and the Nordic region. Our Stockholm and Helsinki offices make White & Case the only global law firm with a strong and established Nordic presence. We work closely with major Swedish and international clients with a Swedish nexus, in Sweden as well as globally. We guide our clients through difficult issues, bringing our insight and judgment to each situation. Our innovative approaches create original solutions to our clients' most complex domestic and multijurisdictional deals and disputes.

Our lawyers are market-leading practitioners in areas such as private equity and corporate M&A, debt finance, capital markets and dispute resolution. We work on some of the most significant and complex transactions and matters in the market. Our offer is rooted in our profound understanding of our clients' business and most pressing business needs. We work in focused teams, close to our clients. Our success is largely founded on our ability to combine knowledge and experience with personal commitment.

Our core services include:

 

Private Equity and Corporate M&A

The Merger & Acquisition team in Stockholm represents multinational companies, private equity firms, financial institutions and other clients in connection with domestic and cross-border M&A transactions across a range of industry sectors. We have a long history of representing clients in Nordic M&A transactions and of representing our Swedish clients in complex, cross-border M&A transactions around the world. Clients recognize our unique cross-border capabilities, and we have been engaged to act for them in some of the most innovative and demanding M&A transactions in the region.

The Stockholm office is part of the White & Case global M&A team. We are one of few law firms with the global capacity and expertise to advise clients on mergers and acquisitions worldwide.

Our transactions include domestic and cross-border acquisitions and dispositions, joint venture, spin-offs, privatization, private equity funding, leveraged buyouts, and recapitalizations.

Clients say, 'The Firm is a true international player which stands out in the Swedish market' and 'White & Case offers a first-class service' and we take pride in the fact that clients consider us 'professional, personal and very high quality.'
The Legal 500 2022

 

Capital Markets

The Capital Markets Group in Stockholm focuses on capital markets and public M&A. The team advises issuers, owners as well as underwriters in a variety of ECM transactions, including IPOs, spin-offs and rights offerings, as well as convertible bonds, other hybrids and pure bond offerings, including high yield (HY). The team's public M&A experience includes a wide range of domestic and cross border buy-outs, merger of equals and reversed takeovers, and they represent both sponsors and strategic buyers.

Its clientele ranges from domestic to international investment banks functioning as bookrunners and global coordinators. With its extensive international network, White & Case is well placed to advise on major global mandates with Swedish aspects as well as across the Nordic region.
Chambers 2022

Clients describe White & Case as 'customer-oriented and very well plugged into the ECM market in Sweden.' Another client explains: 'The reason we work with White & Case is its strong local presence combined with a global reach,' further appreciating the 'short advice that drives the process forward without problematising it.'
Chambers 2022

 

Debt Finance

Banking is one of the Stockholm office's core practice areas. We advise Swedish and non-Swedish banks and financial institutions, private equity sponsors, large corporates and alternative capital providers on a broad range of banking and restructuring matters, both foreign and domestic and within a broad product offering. Our clients include some of Sweden's largest financial institutions, corporates and private equity funds. The combination of White & Case's breadth of international experience and the Stockholm office's knowledge of local legislation and industry practice makes us extremely well suited to be efficient advisors to both local and international banking and finance clients.

White & Case's Sustainable Finance practice brings together top tier bond, derivative, structured finance, project finance and environmental expertise to focus on the financing of sustainable assets. Environmental Finance named one of our transactions "Green bond of the year" in 2021. Our Stockholm team has proven tracked records in advising clients on green bond and sustainability-linked bond issuance, including Huhtamäki, SSAB, Stora Enso and H&M.

Multiple sources praise the breadth of the team's international reach, with one client describing the team as a 'professional, proactive, meticulous…' with 'a good understanding of our business and needs'. According to another source, the firm's 'excellent reach and local presence in many countries' is also highly valued.
Chambers 2022

Other clients say 'superb execution and service' and 'provides a window to global knowledge and legal advice essential for many local companies to be able to make better and smarter use of global knowledge and best practice to win locally.'
The Legal 500 2022

 

Dispute Resolution

We have successfully represented clients in a number of the largest and most complex litigations and commercial arbitrations that have arisen over the past few years. In any dispute, we are focused on achieving our clients' objectives by combining our legal knowledge and accumulated know-how with our industry knowledge and geographical reach. Our Commercial Litigation lawyers represent clients in all stages of domestic and international litigation in established and emerging markets.

On the arbitration side, we know the process as well as the arbitration institutes. The group has many years of combined experience in representing Swedish and international clients in ad hoc proceedings conducted in accordance with the Swedish Arbitration Act, as well as institutional proceedings under various rules, such as the SCC, ICC, LCIA, SIAC and UNCITRAL rules.

According to clients, the team 'possesses a market-leading reputation for construction and insurance disputes, in addition to handling arbitration proceedings.'
Chambers 2022

Clients describe the team as 'very good in their field' and 'very responsive to my wishes.'
The Legal 500 2022

 

Awards & Recognition

#1 Nordic M&A by deal count, Bloomberg H1 2022, having advised on 39 announced deals

Tier 1 Capital Markets, Sweden, The Legal 500 2022

Tier 1 Banking and Finance, Sweden, The Legal 500 2018-2022

Band 1 International Arbitration, Chambers Global 2022

Recommended Global and National Leader (Sweden) for Arbitration, Who's Who Legal 2022

Law Firm of the Year, IFLR 2022

Experience

Tink's sale to Visa
Representation of Tink on its sale to Visa for €1.7 billion. "We advised Tink through its development and rapid growth into one of the largest open banking platforms and FinTechs in Europe," said White & Case partner Henrik Wireklint, who co-led the Firm's deal team. "Our pan-European team helped successfully navigate this strategically important transaction for Tink."

Stora Enso's sale of two paper mills
Representation of Stora Enso, a global renewable materials company, on its sale of Maxau paper production site in Germany and Nymölla paper production site in Sweden.

Volvo's IPO and Nasdaq Stockholm listing
Representation of the underwriters on the SEK 20 billion IPO and listing on Nasdaq Stockholm of Volvo Cars. This was the second largest listing ever on Nasdaq Stockholm by that time.

Oatly's IPO and Nasdaq New York listing
Representation of Oatly, a leading producer of plant-based and dairy-free food products, on its US$10 billion IPO and Nasdaq New York listing on the Nasdaq Global Select Market.

IFS's significant investment by Hg
Representation of IFS, a cloud enterprise software provider, and its shareholders including EQT, on a significant investment by Hg, a private equity investor focused on software and services businesses. This transaction will make Hg a significant minority investor in IFS and WorkWave, in a transaction valuing the companies at US$10 billion.

APG's acquisition of Stockholm Exergi
Representation of investor consortium led by APG on the acquisition of 50 percent of the shares in Stockholm Exergi from Fortum for SEK 29.5 billion.

Triton's majority Investment in Esperi Care
Representation of Triton Smaller Mid Cap Fund II, advised by Triton, on its majority investment in Esperi Care, the leading care provider in Finland.

Klarna's investment round with US$10.65 billion post-money valuation
Representation of Klarna on its US$650 million equity funding round, at a post-money valuation of US$10.65 billion. The US$10.65 billion valuation ranks Klarna as the highest-valued private FinTech in Europe and the fourth highest globally.

Klarna's acquisition of HERO
Representation of Klarna, one of the world's leading smooth shopping and payment providers, on its acquisition of HERO, an online retailer which brings the concept of in-person customer service to e-commerce.

Epidemic Sound's investment by EQT and Blackstone
Representation of Epidemic Sound, a global MusicTech company headquartered in Stockholm, on the US$450 million joint investment by EQT Growth and Blackstone Growth, which values Epidemic Sound at US$1.4 billion.

Momentum Software's takeover by Aaeron
Representation of Momentum Software, a Swedish software as a service (SaaS) company, on the takeover by Aaeron, a Germany-based enterprise resource planning (ERP) software and digital solutions provider for the European property industry. Aaeron has acquired 93 percent of the outstanding shares in Momentum Software at a valuation of approximately SEK 1.8 billion. Momentum Software is listed on Nasdaq First North Growth Market-listed.

Juni's Series B equity funding round
Representation of Swedish FinTech Juni on its US$100 million Series B equity funding round.

Pagero Group's cash offer acquisition of Tungsten
Representation of Pagero Group, a listed software as a service (SaaS) company, on its recommended competing cash offer to acquire Tungsten Corporation plc, a listed global electronic invoicing and purchase order transactions network provider. Pagero's largest shareholder is Nordic private equity firm Summa Equity.

Lime Technologies' acquisition of Userlike
Representation of Lime Technologies, a Sweden-based provider of digital products for customer care and sales, on its acquisition of Userlike, one of the leading providers of customer messaging solutions in Germany.

MEAG's financing in world's biggest onshore wind farm
Representation of MEAG and institutional investors on the first fully merchant project bond financing for the Swedish wind farm MB2 North, with a capacity of 253MW and located in the world's biggest onshore wind farm cluster Markbygden in Northern Sweden. White & Case previously advised MEAG on the world's largest privately placed project bond for the 753MW onshore wind farm Önusberget in Northern Sweden.

Truesec Group's acquisition financing by SEB and lenders
Representation of SEB and a top-tier direct lender on a senior/holdco PIK financing respectively for the acquisition of the leading independent cybersecurity service provider Truesec Group by IK Partners.