On 3 October 2016, UPC Switzerland (formerly upc cablecom) acquired the remaining 51% in e-fon AG. In October 2013, UPC already aquired 49% and entered into a joint venture with the sellers. e-fon is the leading provider in Switzerland for modern telephone solutions in the wholesale market.
Ascom Holding AG (SIX: ASCN) and InfoVista have closed a sale agreement
under which InfoVista acquired the Network Testing Division. The
transaction is based on a cash-free / debt-free enterprise value of USD
45 million. Ascom received USD 30 million in cash at closing and the
remainder of the consideration is in the form of a subordinated vendor
loan with a nominal value of USD 15 million, a 7-year maturity and a
stated interest rate of 4% p.a.
Arbitration has long been the favorite of the
ADR family. Mediation, however, has established an increasingly relevant
position for itself when it comes to resolving (international) commercial
disputes quickly, cost-efficiently, and successfully. READ MORE...
Under Cyprus Law on Immovable Property, the ownership of an immovable may be held by more than a single principal owner. Specifically, the ownership of an immovable can be held by more than one person (the so-called tenants in common under the English law).
With decision dated 11 October 2016, the Takeover Board concluded that the refinancing and the potential enforcement of shares in Sulzer Ltd, which serve as a security for the financing banks, does not trigger a duty to launch a mandatory public tender offer for the shares in Sulzer AG for Natixis S.A., Credit Suisse AG, J.P. Morgan Securities Plc, ING Bank N.V., Deutsche Bank (Switzerland) Ltd., Sberbank of Russia as well as Tiwel Holding AG and Renova Holding Limited. Sberbank of Russia was granted an exemption from the obligation to submit a mandatory public tender offer in case that they hold more than 33 1/3% of the voting rights in Sulzer Ltd due to an appropriation of the respective shares in enforcement proceedings.
The Court of Justice of
the European Union (CJEU) dismisses the actions for annulment of the MoU and
the Eurogroup statement and the actions for compensation of uninsured
depositors for the restructuring of the Cypriot banking sector