Eversheds Sutherland Finland advised Kaleva Media on strategic merger with Ilkka

Ilkka and Kaleva have today signed a share exchange agreement, under which the companies will merge their media businesses. The corporate arrangement will be carried out as a share exchange, whereby Ilkka Oyj’s subsidiary, I-Mediat Oy, will be fully transferred to the ownership of Kaleva365 Oy. As a result of the arrangement, Ilkka Oyj will own 35% of Kaleva365 Oy, while Kaleva Oy will own the remaining 65%.

The merger aims to strengthen regional media and ensure the continuity of reliable, high-quality, and independent regional journalism. The arrangement also enables sufficient investment in the development of digital media.

"It was a pleasure to advise on a transaction that strengthens the position of regional media in Finland and creates a solid foundation for developing journalistic content in the digital landscape. This arrangement demonstrates how collaboration can lead to sustainable and competitive solutions in an evolving media environment."
— Kirsi Karvonen, Partner, EVS Finland

Legal advisory was led by Partner Kirsi Karvonen, supported by Partners Kaija Pulkkinen (Employment Law) and Olli Hyvönen (Competition law), Specialist Counsel Tiina Koivisto, Associates Alex Niva (Competition law) and Josefina Lind (Employment law) and Senior Legal Trainee Joona Eriksson.