solved – both among top-level decision makers and among the project team concerning practical measures. Regular and open discussion on every level helped the project to proceed according to plan at all times. Legal expertise and mastery of practical matters are important when completing business restructuring, but the best outcome is achieved when the motives and wishes of the parties are understood more deeply and the best possible negotiation result is found for everyone based on this. Here, the successful outcome was supported by our extensive experience in various negotiations and business restructuring processes as well as a broader understanding of the local market, industry and culture. What impact do you expect the merger will have on both firms and on the wider wood processing market in Europe? For the buyer, Lexia’s client Pfeifer, the acquisition was a significant strategic step. Even before it happened, the company was already a significant player in the wood industry on an international scale. The acquisition clearly strengthens their position even more, as the company took a strong position in the Northern European wood market. Regionally, this was a new territorial conquest for Pfeifer; the company’s position as a global operator is strengthened and its production capacity increases. With the acquisition, Pfeifer will now be one of the largest wood processing companies in the world. For Pölkky too, the transaction was a significant step and part of deliberate development work. With the merger, the company’s efficiency will improve and more jobs will be created in the region. Pölkky has already been one of the largest employers in the region. With the merger, the company is now becoming an even more important regional actor, for example from the point of view of employment. Do you foresee Lexia working on similar deals in 2023? I believe there will be changes in the sawmill industry even in the future; the industry is going in a more uncertain direction. There will be turmoil, and mergers of a similar type will probably take place in the near future as well. Lexia’s strong expertise in the industry and in carrying out large-scale business restructuring is strong, so it is natural that we will be involved in similar processes in the future as well. I estimate that, in 2023, we will see at least one acquisition of the same type, and maybe even a couple. Do you have any further comments to make about the acquisition? Lexia’s way of working locally in Northern Finland and its strong knowledge of the regional actors and culture as well as its versatile expertise in corporate law created an excellent basis for carrying out this type of business acquisition. In business arrangements of this scale, it is exceptional that a legal partner can support the client in such a comprehensive way. For the client, this brings ease and peace of mind in the middle of an enormous process. TRANSACTION INTERVIEW 77 I believe there will be changes in the sawmill industry even in the future; the industry is going in a more uncertain direction.
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