Misled in the deal: Pfeifer demands €60 million refund for Pölkky acquisition

A significant dispute has emerged following the sale of the Finnish sawmill company Pölkky Oy, based in Kuusamo, to Austria’s Pfeifer Holding GmbH. The sale, which was completed in January 2023, has since led to legal battles over the terms of the acquisition and claims of financial misrepresentation. Background of the acquisition Pölkky Oy, one of Finland’s leading sawmill companies, was sold by the Virranniemi family to Austrian-based Pfeifer Holding in a deal finalized on January 31, 2023. The purchase was initially seen as a major step for Pfeifer’s expansion into the ...