Trevian completes acquisition of Finland’s main event venue
Trevian Kasvu has completed the acquisition of Helsinki Hall, meaning that the city’s largest event venue has returned to Finnish ownership and will open again soon having been closed for three years.
Trevian announced yesterday that it had acquired the controlling shares of Helsinki Halli Oy, finalising a process that took over two years.
The deal was first agreed in November 2024 but it required a change in EU sanctions legislation, which came in December 20204, and the regulatory approval of the Finnish government and the Finnish Enforcement Authority, which gave the green light in early February.
This is because the arena had been owned by Russian oligarchs Gennadi Timchenko and the Rotenberg family, both of whom are under EU and US sanctions. The venue was shut down in 2022 after Russia’s invasion of Ukraine, and its sale had been closely monitored by authorities.
Due to sanctions, the payment made by Trevian remains in the possession of the Finnish authorities and inaccessible to the arena’s former owners.
The transaction was long and complex but ultimately successful, said Heikki Viitikko, managing partner, Trevian, adding that the arena would reopen and bring major international events back to Helsinki, while also supporting local cultural and sports activities. He estimated that the venue could host 120 to 140 events per year, drawing over 800,000 visitors.
“The closure of the venue has been a major loss for Helsinki,” said Juhana Vartiainen, Mayor of Helsinki. “Now we finally have a world-class arena again. This will have a huge impact on major events and cultural life, as well as on the economy and attractiveness of Helsinki and the entire country, as well as on the development of the local tourism and hospitality sector.”
Trevian Asset Management will act as the arena’s asset manager. The venue’s new name and commercial partnerships are yet to be announced, as negotiations are still ongoing. Comprehensive business and investment plans have been drawn up for the arena, which include modernisation and ESG improvements.
