Liisa Rekola

Associate, Helsinki



Liisa Rekola advises clients in the field of corporate and financial transactions, including capital markets transactions, mergers and acquisitions and debt finance transactions.

Liisa joined White & Case in 2018 after her graduation from law school.

University of Helsinki
Faculty of Law


Representation of Nordea Bank Abp and Skandinaviska Enskilda Banken AB (publ), as the joint global coordinators and bookrunners, on the initial public offering of Class C shares in Virala Acquisition Company Plc, a special purpose acquisition company focused on companies that have strong ties to or are located in Finland. The Class C shares of Virala Acquisition Company Plc were listed on the SPAC segment of the regulated market of Nasdaq Helsinki. At the offer price, Virala Acquisition Company Plc had a market capitalization of approximately €108 million. This transaction was the first SPAC IPO in Finland.

Representation of Orthex Corporation, a leading Nordic houseware company, as the issuer, and Sponsor Capital Oy, a Finnish private equity company, as the ultimate owner and selling shareholder, on the initial public offering and listing on the official list of Nasdaq Helsinki of the shares in Orthex Corporation. Carnegie acted as the sole global coordinator and joint bookrunner and Nordea acted as a joint bookrunner. At the offer price, Orthex Corporation had a market capitalization of €121.1 million.

Representation of Sampo plc, a Finland-based Nordic insurance group, on its sale of approximately 162 million shares in Nordea Bank Abp, the largest financial services group in the Nordic markets of Denmark, Finland, Norway and Sweden, through an accelerated bookbuilt offering to Finnish and international institutional investors pursuant to Rule 144A and Regulation S for a total consideration of approximately EUR 1.2 billion. Sampo continues to be Nordea’s largest shareholder, owning approximately 15.9 percent of its shares.Citigroup Global Markets Europe AG and Goldman Sachs International acted as joint bookrunners in the offering. The transaction was launched on November 10, 2020 and closed on November 13, 2020.

Representation of Ahlstrom-Munksjö Oyj on the voluntary recommended public cash tender offer made by a Bain Capital lead consortium formed by (BC) Lux Holdco S.à r.l. (a vehicle owned and controlled by funds managed or advised by Bain Capital Private Equity (Europe), LLP, and/or its affiliates), Ahlstrom Invest B.V (an indirect subsidiary of Ahlström Capital Oy), Viknum AB and Belgrano Inversiones Oy, for all the issued and outstanding shares in Ahlstrom-Munksjö Oyj. The tender offer values Ahlstrom-Munksjö's total equity at approximately EUR 2.1 billion. Ahlstrom-Munksjö is a global leader in innovative and sustainable fiber-based materials and its shares are listed on Nasdaq Helsinki and Nasdaq Stockholm.

Representation of Outokumpu Oyj, a Finnish stainless steel company listed on Nasdaq Helsinki, in its offering of €125 million senior unsecured convertible bonds due July 2025 convertible into new and/or existing ordinary shares of Outokumpu through an accelerated book building process to institutional investors. Citigroup acted as the sole global coordinator and joint bookrunner and BPN Paribas, Crédit Agricole, Skandinaviska Enskilda Banken and Swedbank (in cooperation with Kepler Cheuvreux) acted as Joint Bookrunners.

Representation of Metso Corporation, a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries, on the combination of Metso Minerals and Outotec Oyj under the name Metso Outotec, with the remainder of Metso, Metso Flow Control, becoming an independent separately listed company under the name Neles. The combination will be implemented through a partial demerger of Metso, in which all assets and liabilities of Metso that relate to Metso Minerals will transfer to Outotec in exchange for shares in Outotec to be issued to Metso shareholders. The combined company had illustrative combined sales of €3.9 billion in 2018 and approximately 15,600 employees and will maintain its listing on Nasdaq Helsinki.

Representation of SATO Corporation, a Finland-based real estate investment company, in relation to the establishment of its €1.5 billion euro medium term (EMTN) program, and notes issuances thereunder.

Representation of SRV Group Plc in its offering of €58.4 million capital notes offered mainly to institutional investors in a private placement process and simultaneous cash tender offer for its existing €45 million hybrid bond and €100 million notes due 2021. SRV is a provider of end-to-end solutions in real estate and area development projects as well as a developer-contractor of housing, acting as both the property developer and the builder in projects.

Representation of J.P. Morgan and Skandinaviska Enskilda Banken as joint global coordinators and joint bookrunners and Arctic Securities as joint bookrunner and financial advisor to Tinius Trust in the initial public offering and listing on the Oslo Stock Exchange of the shares in Adevinta ASA, a global online classifieds company with generalist, real estate, cars, jobs and other internet marketplaces in 16 countries.

Representation of ÅF AB in its €611 million recommended public cash tender offer for all issued and outstanding shares in Pöyry PLC. Together with the shares acquired by ÅF through market purchases, the shares tendered during the offer period, including the subsequent offer period, represent approximately 99.3 percent of all the issued and outstanding shares and voting rights in Pöyry. ÅF is an engineering and design company within the fields of energy, industry and infrastructure, based in Europe and operating globally with net sales in 2018 of SEK 13,975 million. Pöyry is an international consulting and engineering company serving clients across power generation, transmission and distribution, forest industry, biorefining & chemicals, mining and metals, infrastructure and water and environment.

Representation of Amer Sports Corporation, a sporting goods company with internationally recognized brands, on the €4.6 billion voluntary recommended cash tender offer made by Mascot Bidco Oy, owned by investor consortium of ANTA Sports Products Limited, FountainVest Partners, Anamered Investments (an investment vehicle owned by Mr. Chip Wilson, the founder of Lululemon) and Tencent (investing through a FountainVest Fund), for all the issued and outstanding shares in Amer Sports Corporation. The shares tendered during the offer period, including the subsequent offer period, represent approximately 98.1 percent of all issued and outstanding shares and votes in Amer Sports Corporation. The transaction is the largest ever cash public tender offer for a Finnish listed company.