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Bär & Karrer Ltd.

BRANDSCHENKESTRASSE 90, 8027 ZÜRICH, SWITZERLAND
Tel:
Work +41 58 261 50 00
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Fax 0041582635393
Email:
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www.baerkarrer.ch
Geneva, Lugano, Zug, Zurich

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Bär & Karrer Advises Valora on its Rights Offering

December 2017

Valora Holding AG completed a capital increase raising net proceeds of approximately CHF 166 million. The capital increase was executed as an "at market" rights offering. The offer price for the new shares was determined following a bookbuilding process for the shares not taken up by existing shareholders. Valora will use the proceeds from the capital increase to refinance its recent acquisition of BackWerk, to finance the expansion of production capacities, to refinance existing capital market instruments and for general corporate purposes. Credit Suisse and J.P. Morgan acted as Joint Global Coordinators and Joint Bookrunners.

Bär & Karrer advised Valora in this transaction. The team included Thomas U. Reutter, Daniel Raun, Alexander von Jeinsen, Sandro Fehlmann and Stefanie Walch (all Capital Markets) as well as Susanne Schreiber and Cyrill Diefenbacher (Tax).

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