Reima Södervall from Trevian Asset Management, majority owner Heikki Viitikko, sellers’ representative Kai Paananen, Tradeka CEO Perttu Puro, Jesse Ranta from Helsinki Halli Oy, Helsinki Mayor Juhana Vartiainen, and Kim Särs from Trevian Asset Management at Trevian Kasvu LP Ky’s press conference regarding Helsinki Halli Oy on 17 February 2025. LEHTIKUVA
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Helsinki’s largest event venue has officially returned to Finnish ownership after being sold to real estate investment company Trevian Kasvu. The arena, which had remained closed for nearly three years, is set to reopen as early as April.
The sale was confirmed at a press conference held inside the venue.
Trevian announced that it had acquired the controlling shares of Helsinki Halli Oy, finalising a process that took over two years. The deal, first agreed upon in November 2024, required approval from the Finnish government, the EU, and the Enforcement Authority, which granted the final clearance in early February.
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 remains frozen and inaccessible to the former owners.
Trevian’s managing partner Heikki Viitikko described the transaction as long and complex but ultimately successful. He said the arena’s return to operation would 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.
Helsinki Mayor Juhana Vartiainen called the reopening a significant moment for the city. “The closure of this venue has been a major loss for Helsinki. Now, we finally have a world-class arena again,” he said. He also suggested that the arena could host events like the Eurovision Song Contest in the future.
The venue’s name and commercial partnerships are yet to be announced, with negotiations still ongoing.
Throughout its closure, a small maintenance team kept the arena in working condition. Security chief Jesse Ranta explained that essential functions were preserved, including water systems and emergency power, despite temporary cuts to electricity and district heating. Authorities have now outlined necessary safety updates, which must be completed by the end of March before the venue can open to the public.
One of the key players in securing the deal was cooperative company Tradeka, whose subsidiary Restel will continue operating the arena’s restaurant and hospitality services. Restel CEO Sari Saari said the venue’s facilities were in excellent condition and ready for use. The company is now hiring additional staff in preparation for reopening.
The sale marks the end of a controversial chapter in the arena’s history. Originally known as Hartwall Arena, the venue was sold to Russian owners in 2013, leading to long-running concerns over foreign influence. Following the outbreak of war in Ukraine, it became a high-profile symbol of Finland’s efforts to sever economic ties with Russia.
With Finnish ownership restored, Trevian and its partners are focused on bringing the venue back to life. The first events are expected to be announced soon, marking a new era for Helsinki’s premier event space.
HT
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Source: www.helsinkitimes.fi
