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Interlaw's Finnish Firm Advises on Merger Control Proceedings
Interlaw’s partner firm in Finland, Waselius & Wist, has represented Loomis AB (Nasdaq OMX) in merger control proceedings in the Finnish Competition and Consumer Authority (FCCA) in connection with its acquisition of Automatia Pankkiautomaatit Oy from present owners Danske Bank, Nordea, and OP Financial Group.
The FCCA approved the acquisition in Phase 2 proceedings subject to commitments. The proceedings included highly complex legal issues due to the key role Automatia plays in Finnish cash infrastructure and the vertical link between the parties. According to the FCCA, this was the most thorough investigation by the FCCA of a vertical merger to date and the first time the FCCA has applied economic methods to assess foreclosure effects in a vertical merger.
Automatia operates the largest ATM network in Finland, under the Otto brand, and also offers nationwide cash supply services for bank branches, night safes for retailers and a digital platform for operating instant payments. Loomis is a globally operating company offering comprehensive solutions for cash handling primarily to banks and retailers.
Partner Lotta Pohjanpalo from Waselius & Wist advised on the deal alongside associate, Ida Keranen.