Assignments January 10, 2019

Cirio legal advisor when Vattenfall enters into a Vested partnership with ISS

Cirio acted as legal advisor when Vattenfall and ISS signed one of the largest outsourcing deals in Sweden and the Nordics. It is in many aspects a unique partnership agreement, where both companies jointly manage the business in scope. The term of the agreement is seven years with a total value of approximately 5 billion Swedish kronor.

Having cooperated since 2006, Vattenfall and ISS have now entered into a new agreement based on Vested, a business model where the parties have jointly set strategic goals and a joint vision to achieve desired outcomes. The Vested model implies a new perspective on the relationship and allocation of responsibilities, where the parties have equal responsibility in contributing to each other’s success within the framework of the cooperation.

Cirio is a Center of Excellence for the Vested model and its team consisted of David Frydlinger and Sara Hovstadius. Cirio has conducted the assignment in cooperation with EY Outsourcing Advisory.

About Cirio
Cirio Law Firm was founded in Stockholm in 2019 and has around 125 employees. The law firm has a long heritage in Stockholm ranging back to 1918 and is one of the leading law firms within several areas of business law. Cirio offers legal advice in most areas of business law such as M&A and other transactions, operational and strategic business decisions, special situations such as dispute resolution and bankruptcies and collaborative innovation. The firm has special competence within business areas such as renewable energy, life science and digitalisation.

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