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Walder Wyss Ltd

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SEEFELDSTRASSE 123, PO BOX 1236, 8034 ZURICH, SWITZERLAND
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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Promotions at Walder Wyss

January 2018. Press Releases by Walder Wyss Ltd (view listing).

We are pleased to announce that our employees Alexandre BothMichael CartierMichael FeitHubertus Hillerström and Olivier Sigg, who have been with us for many years, have been appointed as partners in our firm, effective from 1st of January, 2018.

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New counsel at Walder Wyss

January 2018. Press Releases by Walder Wyss Ltd (view listing).

We are pleased to announce that a new counsel, Christian Eichenberger, joined our firm as of 1st of January, 2018.

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DPE acquires AWK Group

January 2018. Press Releases by Walder Wyss Ltd (view listing).

Deutsche Private Equity (DPE) acquires majority interest in AWK Group, one of the largest independent Swiss consulting companies for information technology and digitalization. 

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Metall Zug (SIX: METN) acquires majority holding in Haag-Streit Holding AG

January 2018. Press Releases by Walder Wyss Ltd (view listing).

The Metall Zug Group has signed an agreement to acquire 70% of Haag-Streit Holding AG, based in Köniz, Switzerland. The transaction is expected to be consummated during the first quarter of 2018. 

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Multilease: Swiss Auto Lease ABS 2017-2

December 2017. Press Releases by Walder Wyss Ltd (view listing).

On 28 November 2017, Multilease AG closed its second Swiss auto lease securitization transaction involving the issuance by First Swiss Mobility 2017-2 AG (the Issuer) of CHF 267,300,000 Zero percent asset-backed Class A Notes, due in 2027, CHF 16,500,000 1.00 percent asset-backed Class B Notes, due in 2027 and CHF 14,800,000 2.00 percent asset-backed Class C Notes, due in 2027.

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GetYourGuide announces USD 75 million Series D financing round

December 2017. Press Releases by Walder Wyss Ltd (view listing).

GetYourGuide, the leading online marketplace for travel activities, announced a USD 75 million series D financing round led by Battery Ventures. The company’s existing investors KKR, Spark Capital, Highland Capital Partners, Nokia Growth and Sunstone Capital joined Battery in its investment.

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Valiant Bank AG places inaugural Swiss Covered Bond

December 2017. Press Releases by Walder Wyss Ltd (view listing).

Valiant Bank AG has successfully placed a CHF250 million covered bond with a 10 year term and carrying a coupon of 0.375 percent. Moody's assigned a provisional (P)Aaa rating to Valiant Bank AG's mortgage covered bonds. Valiant Bank AG intends to have the covered bonds provisionally admitted to trading at the SIX Swiss Exchange on 5 December. The transaction is the first public covered bond issuance entirely structured under Swiss law with a Swiss guarantor. BNP Paribas (Suisse) SA and ZĂĽrcher Kantonalbank act as lead-manager.

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Digital Influencer Marketing – Worldwide Legal Developments and Switzerland

November 2017. Press Releases by Walder Wyss Ltd (view listing).

Digital Influencer Marketing – Worldwide Legal Developments and Switzerland – Digital Influencer Marketing is a new subtle form for reaching target audiences online. Due to its’ increasing emergence as a marketing practice, governmental agencies and selfregulatory bodies worldwide have reacted with the issuance of guidelines how such practices should be conducted in a transparent manner. Also, a few court decisions have been rendered with remarkable remedies ordered. Therefore, it appears sensible to take broad look at what’s happening on our globe. In the following, we will provide (i) an overview on noteworthy legal developments with regard to digital influencer marketing in select jurisdictions worldwide, (ii) an overview on the legal status of digital influencer marketing in Switzerland and (iii) a general impact assessment for businesses in Switzerland. 

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Nouscom AG USD 40 Mio. Series B Financing Round

October 2017. Press Releases by Walder Wyss Ltd (view listing).

Walder Wyss advises Abingworth and 5AM Venture on Nouscom’s Series B financing round. Nouscom is active in the development of tumor specific oncolytic viruses and patient specific cancer vaccines. The financing round was subscribed by Abingworth and 5AM Venture as well as by existing shareholders.

The Walder Wyss teams consists of Alexander Gutmans (Partner, Corporate, Venture Capital) and Jessica Aeschbach (Associate, Corporate).

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4 January 2017: AF Group acquires Edy Toscano AG

January 2017. Press Releases by Walder Wyss Ltd (view listing).

AF Group ASA, listed at the Oslo Stock Exchange (OSE-AFG), a leading international civil engineering and construction group headquartered in Oslo, has acquired the renowned Swiss engineering and construction planning company Edy Toscano AG with 370 employees. Together with AF Consult Switzerland AG, AF Group will be among the three largest Swiss engineering and construction planning companies with a combined turnover in Switzerland exceeding CHF 100 million.

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3 January 2017: Promotions at Walder Wyss

January 2017. Press Releases by Walder Wyss Ltd (view listing).

We are pleased to announce that our employees Ayesha Curmally, Michael Isler, Robert von Rosen and Stefan Knobloch, who have been with us for many years, have now been appointed as partners in our chancellery, effective from 1st January 2017.

Ayesha Curmally is a notary in the canton of Basel-Stadt, a Certified Specialist SBA in Inheritance Law as well as a lawyer in the Private Clients team of Walder Wyss. Her main areas of practice include mariage and inheritance law, estate and succession planning, settlement of estates (including distribution), corporate and commercial law and real property law. Additionally to adivsing clients and notarising deeds in these fields of law, Ayesha Curmally notarises share transfers, marriage and inheritance contracts and other transactions under German law.

Michael Isler regularly advises in complex outsourcing, technology transfer and platform projects from the conceptual and negotiation phase to dispute settlement. He further enjoys a vast experience in copyright, trademark and patent law. A particular focus of his work is dedicated to the life sciences and health sector. Michael Isler regularly publishes and lectures in his practice areas and takes an active role in several professional organizations.

Robert von Rosen’s practice focuses on domestic and international M&A transactions. He also advises corporate clients on all matters of corporate and commercial law related to their daily operation. A further focus of Robert von Rosen is banking, finance and capital markets law.

Stefan Knobloch deals primarily with international and national M&A transactions, public takeovers, private equity transactions, IPOs, debt financing, corporate governance and matters relating to company, stock exchange transaction and capital market law in general. He has overseen numerous transactions in these areas. He also prepares legal opinions in matters of law on stock exchange transactions, company law, law of obligations and law on civil procedure, as well as publishing articles and lecturing at the University of Zurich in his preferred fields of activity.


In addition, Janine Corti, Alexandre Both, Michael Cartier and Dominik Hohler have been promoted to Counsel as well as Ramona Wyss and Dirk Spacek have been promoted to Managing Associate. All promotions are effective as of 1 January 2017.

Janine Corti is working in the fields of domestic and international corporate tax and has professional experience in the financial services area. She focuses particularly on national and international restructurings, migrations, tax planning, employee participation programs, capital market transactions and M&A projects. In addition, she is at the board of the Zurich section of EXPERTsuisse.

Alexandre Both is focusing on M&A and finance transactions. His M&A experience includes private and public transactions, with a focus on domestic and cross-border acquisitions, mergers, private equity, asset and liability transfers and spinoffs. On finance transactions, Alexandre Both provides advice to lenders or borrowers in particular in relation to syndicated bank financings, real estate finance, leverage finance, project finance and structured finance. He also advises on banking, stock exchange and capital markets laws.

Michael Cartier represents parties in international arbitrations under all major institutional rules and in ad-hoc proceedings, before state courts and in enforcement and legal assistance matters. He is listed as an expert for arbitration in Who’s Who Legal 2016 and 2017. He also acts as arbitrator and is listed on the panel of arbitrators of the ICC National Committee (Switzerland). The focus of his work is on construction disputes and international commercial law. He also advises clients in white-collar criminal law matters and corporate investigations. He is an officer of the Inter-Pacific Bar Association (IPBA).

Dominik Hohler advises national and international companies regarding their restructuring, financing, establishment and expansion projects as well as with regard to reorganisation measures and insolvency. He also focuses his practice on domestic and international M&A, private equity and venture capital transactions. Additionally, he advises corporate clients on all matters of corporate and commercial law related to their daily operations. Dominik Hohler regularly publishes in his fields of expertise.

Ramona Wyss advises clients in finance and capital markets transactions, acquisitions and outsourcing projects. Other preferred areas of practice of Ramona Wyss include commercial and corporate law as well as administrative law with a special focus on energy, technology, financial markets, insurance and procurement law.

Dirk Spacek advises companies of the media- and technology-sector as well as industrial enterprises, healthcare providers, banks and insurances on the creation, procurement and commercialization of new ideas and technologies. Among various matters, he handles technology transfer- and outsourcing-projects, license, R&D- and distribution agreements, joint ventures and frequently contracts of the media & entertainment sector. In addition, Dirk has vast litigation-experience in patent-, trademark- and copyright-law and the handling of contractual and commercial disputes before state courts.

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3 January 2017: New partners and consultants at Walder Wyss

January 2017. Press Releases by Walder Wyss Ltd (view listing).

We are pleased to announce that a new partner, Roger Staub, as well as new consultants, Thiemo Sturny and David Vasella, will be joining our chancellery as of 1st January 2017.

Roger Staub is a Partner in the Information Technology, Intellectual Property and Competition Team. He represents national and international companies from various industries, such as luxury goods, pharmaceuticals, food, financial services, fashion, medical devices and media. He specialises in litigating complex cases before state courts and arbitration tribunals. In addition, he advises clients in negotiating IP and technology-related contracts and in developing IP strategies. He also works as an arbitrator in international arbitration tribunals.

Thiemo Sturny advises domestic and foreign clients in all fields of company law, including national and international M&A transactions, restructuring and questions of corporate governance. He also specialises in credit financing, capital market transactions and supporting start-up’s in private equity financing matters. Thiemo Sturny publishes regularly in his fields of expertise and is lecturing in the LL.M. post-graduate degree programme at the University of Zurich.

David Vasella advises and represents companies on all questions of information and technology law. He specializes in data protection, intellectual property and contract law, especially in connection with the monetization of data and the digitization of business processes, and supports in data protection law compliance. He regularly gives talks and publishes on his fields of expertise.

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19 December 2016: Takeover Allied World

January 2017. Press Releases by Walder Wyss Ltd (view listing).

Fairfax Financial Holdings Limited (Fairfax) (TSX:FFH) (TSX:FFH.U) and Allied World Assurance Company Holdings, AG (Allied World) (NYSE:AWH) have entered into a merger agreement (the Agreement), pursuant to which Fairfax will acquire all of the outstanding registered ordinary shares of Allied World. Under the terms of the Agreement, Allied World shareholders would receive a combination of Fairfax subordinate voting shares and cash equal to USD 54.00 per Allied World Share, for a total equity value of approximately USD 4.9bn.

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20 December 2016: Apax/Unilabs

January 2017. Press Releases by Walder Wyss Ltd (view listing).

The joint owners of Switzerland-based Unilabs, private equity funds Apax Europe VI, Nordic Capital Fund VI ("Nordic Capital") and Apax France VII have accepted an offer from Apax IX, advised by Apax Partners LLP, for the acquisition of their respective stakes in Unilabs.

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14 September 2016: ETH/ESA start-up-programme

September 2016. Press Releases by Walder Wyss Ltd (view listing).

ETH Zurich was awarded the contract by the European Space Agency (ESA) for the ESA Business Incubation Centre Switzerland. The initiative was launched by the State Secretariat for Education, Research and Innovation. It supports selected young start-ups with a connection to space technologies.

ESA BIC Switzerland focuses on Swiss start-ups that apply innovative space technologies to challenges in other fields. It offers one of the most attractive programmes for young entrepreneurs in Switzerland. Eligible start-ups can receive up to EUR 500,000 of financial backing as well as technological and business support. The programme is currently projected to last for five years and will accept up to 10 start-ups per year. A jury made up of representatives from ESA, ETH Zurich and other partners will select the first start-ups for ESA BIC Switzerland this November. 

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19 August 2016: BLKB invests in Robo-Advisor True Wealth

September 2016. Press Releases by Walder Wyss Ltd (view listing).

Basellandschaftliche Kantonalbank (BLKB) and the Swiss robo-advisor True Wealth AG have entered into a strategic partnership. BLKB further acquired a minority stake in True Wealth.

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22 August 2016: Recordati acquires Pro Farma AG

September 2016. Press Releases by Walder Wyss Ltd (view listing).

Recordati, an international pharmaceutical group listed on the Italian Stock Exchange, acquires the Swiss pharmaceutical company Pro Farma AG.

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2 September 2016: Sale of Majority Stake in AutoForm Group

September 2016. Press Releases by Walder Wyss Ltd (view listing).

On 22 July 2016, the shareholder sold a majority stake in the AutoForm Group to Astorg Partners. AutoForm Group is a leading provider of software solutions for the design and sheet metal forming simulation. Astorg Partners is one of the most successful independent private equity companies in Europe.

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10 August 2016: Rakuten acquires substantial minority stake in getAbstract

August 2016. Press Releases by Walder Wyss Ltd (view listing).

Rakuten, Inc., an internet services company based in Tokyo and listed on the Tokyo Stock Exchange, has acquired a substantial minority stake in getAbstract AG, the global leader in compressed digital content.

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26 July 2016: Acino divests its patch business to Luye Pharma Group Ltd.

August 2016. Press Releases by Walder Wyss Ltd (view listing).

Luye Pharma Group Ltd. has entered into an agreement to acquire the TDS business from Acino, through the purchase of the entire issued share capital of Acino AG and Acino Supply AG for EUR 245,000,000. The target group is a Europe based global leader in advanced transdermal drug delivery systems (TDS) and is one of the largest independent TDS manufacturers in Europe. Closing is expected to occur in the second half of 2016.

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23 June 2016: Castleton closes refinancing facility

July 2016. Press Releases by Walder Wyss Ltd (view listing).

On 16 June 2016, Castleton Commodities International LLC (CCI), a global commodities merchant, closed the fifth amended and restated credit agreement between, among others, certain entities of CCI, as Borrowers and Guarantors, and BNP Paribas, as administrative agent and collateral agent.

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27 June 2016: Cembra Swiss Auto Lease ABS transaction 2016-1 listed on the SIX Swiss Exchange

July 2016. Press Releases by Walder Wyss Ltd (view listing).

On 23 June 2016, Cembra Money Bank AG (Cembra) closed its fourth auto lease securitization transaction involving the issue by Swiss Auto Lease 2016-1 GmbH (the Issuer) of CHF 200,000,000 0.22 per cent. Asset-Backed Class A Notes due 2026 and CHF 22,600,000 0.40 per cent. Asset-Backed Class B Notes due 2026 to the Swiss capital market. The Notes issued are listed on the SIX Swiss Exchange and are backed by a portfolio of auto lease assets originated by Cembra and transferred to the Issuer.

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28 June 2016: Statkraft Ventures invests into Swiss Smart Grid Solution Company DEPsys

July 2016. Press Releases by Walder Wyss Ltd (view listing).

Statkraft Ventures GmbH led a Series-A financing round with participation of VNT Management and One Creation. In this round the Swiss start-up DEPsys raised CHF 3 million in total.

Statkraft Ventures GmbH regularly invests in promising start-ups in the energy sector. DEPsys’ smart grid solutions monitors and controls the network in real-time to stabilize the system, secure the supply and optimize the energy flow using intelligent algorithms.

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24 May 2016: Groupe SEB acquires WMF Group from KKR

June 2016. Press Releases by Walder Wyss Ltd (view listing).

Listed Groupe SEB acquires WMF Group. The closing of the transaction is subject to merger control clearance. Groupe SEB will pay 1,020 million EUR in cash for the WMF Group and assume net debt in an amount of 565 million EUR. In addition, SEB takes over 125 million EUR of early retirement and pension liabilities.

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4 May 2016: AMAG Leasing: Second Auto Lease CHF 515m ABS Transaction (Dual Tranche 2016-/2016-2)

May 2016. Press Releases by Walder Wyss Ltd (view listing).

On 4 May 2016, AMAG Leasing AG closed its second auto lease securitization transaction. The transaction was structured as a dual trance transaction involving the issuance of notes with various terms, issued by two separate SPVs. Swiss Car ABS 2016-1 AG (the 2016-1 Issuer) issued CHF 200,000,000 0.15 percent Asset-Backed Class A Notes due 2026 (2y soft bullet) and CHF 15,000,000 1.125 percent Asset-Backed Class B Notes due 2026 (2y soft bullet) and Swiss Car ABS 2016-2 AG (the 2016-2 Issuer) issued CHF 300,000,000 0.30 percent Asset-Backed Class A Notes due 2026 (4y soft bullet). The Notes issued are listed on the SIX Swiss Exchange and are each backed by a portfolio of auto lease assets originated by AMAG Leasing AG and transferred to the Issuers. The Class Notes are rated "AAAsf" by Fitch and "Aaa(sf)" by Moody’s and the Class B Notes are rated «AA+sf» by Fitch and «A1(sf)» by Moody’s. UBS Investment Bank acted as Lead Manager, Sole Bookrunner and Co-Arranger, Credit Suisse and Zürcher Kantonalbank acted as Senior Co-Manager and StormHarbour acted as Co-Arrangers and Co-Manager (Class B Notes) on this transaction.

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27 April 2016: Greatbatch/INTEGER

May 2016. Press Releases by Walder Wyss Ltd (view listing).

Following completion of the acquisition of the Lake Region Medical groupe by Greatbatch, Inc. and the renaming of Lake Region Medical into INTEGER, Greatbatch contributed in multiple capital increases own shares to Swiss-based P Medical Holding AG/INTEGER (Switzerland) GmbH, which were swapped against shares in the Irish-based Lake Region Medical Holdings Limited. The transaction was completed by a down-stream merger of P Medical Holding AG into its subsidiary INTEGER (Switzerland) GmbH.

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22 April 2016: Mövenpick invests in imported wine wholesaler Cheers in China

May 2016. Press Releases by Walder Wyss Ltd (view listing).

Hospitality and food service industry company Mövenpick invests in Chinese wine wholesaler Cheers by acquiring a strategic stake. Cheers has 30 branch offices in the greater Beijing area and currently generates annual revenues of roughly three million Swiss francs. Mövenpick is a Swiss group of companies with global presence. Its core competency lies in the hospitality business, with a focus on gastronomy, hotels, wine and premium branded products.

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22 March 2016: Swiss Life - CHF 600 mio. Hybrid Bonds

April 2016. Press Releases by Walder Wyss Ltd (view listing).

Swiss Life Ltd has successfully placed a CHF 450 million undated subordinated bond, first callable in September 2021 (coupon until first call date: 3.75%) and a CHF 150 million dated subordinated bond with final maturity in 2046, first callable in September 2026 (coupon until first call date: 4.375%).

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23 March 2016: J. Safra Sarasin Holding AG to acquire Credit Suisse (Monaco) S.A.M. and Credit Suiss

April 2016. Press Releases by Walder Wyss Ltd (view listing).

Mit Aktienkaufvertrag vom 22. März 2016 erwarb die J. Safra Sarasin Holding AG von der Credit Suisse AG alle Aktien der Credit Suisse (Monaco) S.A.M. Der Vollzug der Transaktion steht unter dem Vorbehalt üblicher Bedingungen, einschliesslich der Zustimmung der Behörden. Der Vollzug der Transaktion soll noch vor Ende 2016 erfolgen. Mit der Transaktion würde eine der grössten Bankengruppe in Monaco entstehen.

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14 March 2016: Sale of Komax Medtech

April 2016. Press Releases by Walder Wyss Ltd (view listing).

Komax Holding AG has signed a sale agreement for Komax Medtech with GIMA, a subsidiary of the Italian IMA Group. The transaction is valued at approximately CHF 28 million and includes the entire equity of Komax Systems LCF SA, Switzerland, the entire equity of Komax Systems Rockford Inc., USA and 76% of the equity of Komax Systems Malaysia Sdn. Bhd., Malaysia. The deal also includes an earnout of up to CHF 6 million and CHF 2 million for the purchase of the remaining 24% of Komax Systems Malaysia's equity. The transaction is subject to the approval of the relevant competition authorities.

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1 January 2016: Promotions at Walder Wyss

April 2016. Press Releases by Walder Wyss Ltd (view listing).

We are pleased to inform that Kinga M. Weiss and Oliver M. Kunz have been promoted to partners of our firm as of 1 January 2016.

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1 January 2016: Walder Wyss opens new offices in Geneva and Lausanne

April 2016. Press Releases by Walder Wyss Ltd (view listing).

As of 1 January 2016, our team has been strengthened by a dozen qualified Swiss lawyers who joined Walder Wyss in our new offices in Geneva and Lausanne. We are excited about this move and welcome our new colleagues.

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4 January 2016: IPH acquires Montalpina

April 2016. Press Releases by Walder Wyss Ltd (view listing).

French based IPH Group has acquired Montalpina AG. Montalpina is a leading technical distributor with three branches in Switzerland. The company offers a wide range of products with bearings, power transmission and sealings to the point of special tools and measuring equipment. With sales of more than CHF 1 billion in 2015, IPH is one of the largest technical distributors in Europe.

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14 January 2016: Succession Plan DT Swiss

April 2016. Press Releases by Walder Wyss Ltd (view listing).

Two members of the board of directors/shareholders of DT Swiss Group AG have acquired all outstanding shares in the course of a succession planning structured as a leveraged buyout (LBO). DT Swiss is a globally renowned manufacturer of bicycle components with branches in the USA, the EU and Asia. Around 500 employees develop, produce and market DT Swiss’ first-class products around the world.

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21 January 2016: Bayer sells Diabetes Care business

April 2016. Press Releases by Walder Wyss Ltd (view listing).

The Bayer group has sold its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd. The total consideration for this transaction, which includes blood glucose monitoring systems and lancing devices for people with diabetes, is around one billion Euros (JPY 132 billion). The Diabetes Care business will now operate as a stand-alone company named Ascensia Diabetes Care Holdings based in Basel, Switzerland.

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1 August 2014: Walder Wyss opens office in Basel

October 2014. Press Releases by Walder Wyss Ltd (view listing).

Following the opening of our offices in Lugano in 2013, Walder Wyss has further expanded its operations with the opening of new offices in Basel.  We warmly welcome our new team which consists of 12 experienced legal professionals and 9 staff members.


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New Swiss Law on Product Safety

April 2014. Press Releases by Walder Wyss Ltd (view listing).

The Swiss law on product safety (Produktesicherheitsgesetz, PrSG) is currently scheduled to enter into force on July 1, 2010. This new law aligns Swiss product safety requirements with EU law. It applies not only to manufacturers, but to anyone who commercially or professionally markets products in Switzerland, and it introduces substantial new obligations before and after the sale of a product.

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Legal Developments by:
Walder Wyss

  • 17 February 2017: Auris Medical's Public Equity Offering

    Auris Medical Holding AG (NASDAQ: EARS) issued and priced its public offering of 10,000,000 common shares and 10,000,000 warrants, each warrant entitling its holder to purchase 0.70 of a common share.  The common shares and warrants are being sold in units comprised of one common share and one warrant at the public offering price of USD 1.00 per unit. The warrants will be immediately exercisable at a price of USD 1.20 per common share and are exercisable for five years. In connection with the offering, the Company has granted the underwriter a 30-day option to purchase up to 1,500,000 additional common shares and/or 1,500,000 additional warrants at the public offering price less underwriting discounts. The offering is expected to close on or about February 21, 2017, subject to customary closing conditions. Roth Capital Partners is acting as sole book-running manager in the offering. Maxim Group LLC is acting as a financial advisor in the offering.
    - Walder Wyss Ltd

Legal Developments in Switzerland

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Derivatives Trading under FMIA: Reporting Obligations

    On 14 September 2018, the Federal Council extended the transition period for the reporting of derivative transactions by small non-financial counterparties (NFC-) until 1 January 2024 under the Financial Market Infrastructure Act (FMIA). The amendment to the Financial Market...
  • Swiss Tax Reform Package Approved: Update and Outlook

    The Swiss National Council approves the proposed tax reform package! On 12 September 2018 the larger chamber of parliament adopted the proposal of the Economic Affairs and Taxation Committee of the Council of States on the Federal Act on Tax Reform and AHV Financing (formerly Tax Proposal 17), which is largely in line with the legislative bill adopted by the Council of States, the smaller chamber of parliament. Although slight differences regarding the capital contribution principle remain to be settled, the majority of member of the National Council sees the adopted text of the bill as a viable compromise.
  • Retrocessions: Criminal Consequences of Non Disclosure

    In a recent decision 6B_689/2016 of 14 August 2018, the Swiss Federal Supreme Court held that the failure to disclose adequately retrocessions may constitute an act of criminal mismanagement. After a short summary of the legal framework governing the disclosure of retrocessions, the present briefing analyses this decision and its practical impact in particular for Swiss financial institutions dealing with external asset managers.
  • Bär & Karrer Advises Waterland on its Investment in Tineo

    Waterland Private Equity invested in Tineo AG after the carve-out from Quickline Holding AG. Tineo is an integrated enterprise solution provider of data centres, glass-fiber connections, high-speed internet and VoIP services with state-of-the-art infrastructure
  • Bär & Karrer Elects Ruth Bloch-Riemer, Daniel Raun and Philippe Seiler to Partner

    Bär & Karrer has announced the election of Ruth Bloch-Riemer, Daniel Raun and Philippe Seiler to the firm's partnership. The appointment is effective as of 1 January 2019.
  • Bär & Karrer Advises Swiss Prime Site on its Rights Offering

    On 28 September 2018, Swiss Prime Site, the largest publicly listed real estate investment company in Switzerland, completed a capital increase by way of a rights offering to its shareholders in the amount of approximately CHF 320 million. 97,7% of the shareholders of Swiss Prime Site exercised their subscription rights in the rights offering. The remaining new shares not subscribed were placed in the market. The offer price was set at CHF 74.00 per share. Credit Suisse and UBS Investment acted as Joint Global Coordinators, J.P. Morgan and ZĂĽrcher Kantonalbank acted as Joint Bookrunners.
  • Bär & Karrer Advises SIG Combibloc Group as Issuer and Onex as Selling Shareholder on the IPO of SI

    SIG Combibloc, a leading provider of aseptic carton packaging solutions for the food and beverage industry, successfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 28 September 2018. With a market capitalization of CHF 3.6 billion and a generating total gross proceeds of CHF 1.5 billion, this is considered as the largest IPO on the SIX Swiss Exchange in the last years. In connection with the IPO, SIG Combibloc Group Holdings S.A., the holding company of SIG Combibloc Group, migrated its legal seat and the place of management of the company from Luxembourg to the Canton of Schaffhausen, Switzerland by way of a cross-border relocation and thereby became a stock corporation governed by Swiss law prior to the first day of trading.
  • Bär & Karrer Advises the Joint Bookrunners in the Offering of an Aggregate of USD 8,000,000,000 Not

    Nestlé Holdings, Inc. completed an offering of USD 1,000,000,000 3.100% Notes due 2021, USD 1,500,000,000 3.350% Notes due 2023, USD 900,000,000 3.500% Notes due 2025, USD 1,250,000,000 3.625% Notes due 2028, USD 1,250,000,000 3.900% Notes due 2038 and USD 2,100,000,000 4.000% Notes due 2048. The notes were offered and sold by the Joint Bookrunners in the United States in reliance on Rule 144A and in transactions outside the United States in reliance on Regulation S under the U.S. Securities Act. Each series of notes is guaranteed by Nestlé S.A.
  • Bär & Karrer Advises Aduno Group on the Acquisition of Accarda

    Aduno Group has increased its participation in Swiss payment solutions specialist Accarda AG from 30% to 100% following an auction process for the acquisition of the 70% stake from Maus Frères SA.
  • 17 February 2017: Auris Medical's Public Equity Offering

    Auris Medical Holding AG (NASDAQ: EARS) issued and priced its public offering of 10,000,000 common shares and 10,000,000 warrants, each warrant entitling its holder to purchase 0.70 of a common share.  The common shares and warrants are being sold in units comprised of one common share and one warrant at the public offering price of USD 1.00 per unit. The warrants will be immediately exercisable at a price of USD 1.20 per common share and are exercisable for five years. In connection with the offering, the Company has granted the underwriter a 30-day option to purchase up to 1,500,000 additional common shares and/or 1,500,000 additional warrants at the public offering price less underwriting discounts. The offering is expected to close on or about February 21, 2017, subject to customary closing conditions. Roth Capital Partners is acting as sole book-running manager in the offering. Maxim Group LLC is acting as a financial advisor in the offering.