White & Case Advises Outokumpu on Its €2.7 Billion Acquisition of Thyssenkrupp's Stainless Steel Business, Inoxum
Global law firm White & Case LLP is advising Outokumpu Oyj, a leading stainless steel producer based in Finland, on its acquisition of Inoxum, the stainless steel unit of German company ThyssenKrupp, valued at €2.7 billion.
The complex transaction ranks among the largest acquisitions by a Finnish corporation ever and includes Inoxum's production sites in Germany, Italy, the United States, Mexico and China. In connection with the transaction, Outokumpu will conduct a fully underwritten rights offering of €1 billion.
"This is one of the largest acquisitions and related equity financings ever undertaken by a Finnish company," said Petri Haussila, executive partner of White & Case's Helsinki office. "We are particularly pleased to be involved in the creation of a new global leader in stainless steel expanding on Outokumpu's strong industrial tradition in Finland."
White & Case are co-counsel with Skadden Arps for the M&A transaction, Finnish corporate counsel for Outokumpu and international and Finnish counsel for the €1 billion rights offering by Outokumpu.
The White & Case team is led by partner Petri Haussila (Helsinki) and also includes partners Mikko Hulkko (Helsinki), Petri Avikainen (Helsinki), Lutz Kraemer (Frankfurt), Ferigo Foscari (Milan) and Raymond Simon (New York). They are supported by local partner Bernd Nelissen (Frankfurt), counsel Martin Hoffmann (Frankfurt) and associates Ben Tuiskula (Helsinki), Leif Laitinen (Helsinki), Heidi Hietanen (Helsinki), Lars Teigelack (Frankfurt) and Alex Specht (New York), among others.
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