Changes in contractual relationship

Business Finland must be notified in writing of any corporate restructuring (mergers, divisions, etc.) and substantial changes in ownership. Business Finland shall notify the State Treasury whether it will support or oppose the proposed business reorganisation.

The company may not assign the project to a third party without permission from Business Finland. If the company intends to sell the business of which the project is a part, Business Finland must be notified of the sale in writing well in advance.

After receiving the transfer decision, the State Treasury sends the transfer commitment to the new borrower for signing.

Business Finlandis entitled to cancel a funding decision if sale would entail such significant changes to the conditions required for project implementation that continuation of the project can longer be considered reasonable. After receiving a cancellation decision, the State Treasury will recover all loans.

Published 2012-11-26 at  11:22 , updated 2017-12-29 at  14:13
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