Our pan-Baltic team as local counsel working with DLA Piper as lead counsel assisted Polhem Infra on its acquisition of Telia Carrier, a world-leading provider in backbone connectivity for data traffic. With this acquisition, Polhem Infra, through Telia Carrier, will own and operate more than 74,000 km of fibre network with 320 connection points globally.

The deal

The deal includes an agreement on strategic partnership. Telia Carrier and Telia Company will continue to work together to provide services and develop new solutions for customers. The acquisition values Telia Carrier at SEK9,450 million on a debt-free basis.

Polhem Infra invests in and manages infrastructure assets. The company, founded in 2019, is jointly owned by Swedish Pension Funds: the First AP Fund, Third AP Fund, and Fourth AP Fund.

Our assistance and team

We acted as local counsel in performing legal due diligence as well as assisting with transaction documents.

The Sorainen team was led by country managing partner Eva Berlaus and included senior associates Jānis Bite, Zanda Frišfelde, Viktorija Smirnova-Čerkasa and Linda Reneslāce in Latvia, partner Sergej Butov and senior associate Jonas Kiauleikis in Lithuania, and partner Piret Jesse and senior associate Robin Teever in Estonia, as well as other team members.