Switzerland

Niederer Kraft Frey advised CVC as Swiss law advisor on its acquisition of Animal Nutrition & Health (ANH) from dsm-firmenich via a carve-out transaction for an enterprise value of EUR 2.2 billion. The transaction includes an earn-out of up to EUR 0.5 billion, with dsm-firmenich retaining a 20 percent equity stake in the divested ANH business alongside CVC. CVC is a leading global private markets manager focused on private equity, secondaries, credit and infrastructure with a global network of 30 local offices and EUR 205 billion of assets under management. ANH is a global provider of science-based animal nutrition and health solutions. The business offers products ranging from vitamins and premixes, to feed additives that improve animal health, performance, feed efficiency and sustainability across livestock production. ANH helps producers deliver high-quality animal protein while reducing environmental impact. The NKF team was led by Corporate/ M&A partners Patrik Peyer and Moritz Maurer and senior associate Alexander Göbel, working with associates Alexandra Neuenschwander and Nadine Wanner (both Corporate/ M&A), partner Andreas F. Vögeli, associates Yannik Bleiker and Jessica Messerli (Real Estate), partner Janine Reudt-Demont and associate Luisa Egli (both Regulatory), partner Philip Spoerlé (Finance), partner Andreas Casutt and associate Sabrina Gysi (Employment), partner Simon Bühler and associate Antonio Gramunt (both Pensions), partner Roman Sturzenegger and associate Anastasia Herger (Restructuring) as well as counsel Marc Vogelsang (Tax). White & Case acted as lead counsel. The White & Case team was led by Stefan Koch, Ben von Maur, Carlo Meert, Carola Glasauer and Joshua Crawley.

On February 19, 2026, Solabia Group announced that it has entered into an agreement to acquire the Mibelle Biochemistry Business from Persán, a multinational European market leader in home and personal care. The Mibelle Biochemistry Business, part of the Mibelle Group, is a Swiss innovator specializing in the development and production of high‑performance active ingredients for the cosmetics, nutraceutical and food industries. The transaction is expected to close in the first half of 2026, subject to the satisfaction of customary closing conditions. The Homburger team was led by Daniel Hasler (Corporate / M&A) and included Carlo Sulser, Cédric Berger, Anina Preusker and Viviane Egli (all Corporate / M&A), Olivier Bühlmann (Real Estate), Gregor Bühler, Joel Fink and Berem Brun (all IP / IT), Angela Casey (Employment and Executive Compensation), Reto Heuberger and Juliette Buob (both Tax) as well as Richard Stäuber and Nicolas Stocker (both Competition).   Contact Wanda Schweda / Marketing / [email protected]

On February 13, 2026, UBS Group AG successfully completed its offering of AUD 1 bn in aggregate principal amount of 7.125 per cent. Tier 1 Capital Notes. The Notes are "high trigger" regulatory capital instruments that are eligible to fulfill UBS Group AG’s Swiss going concern requirements. Upon occurrence of a "Trigger Event" or a "Viability Event", the Notes will be converted into ordinary shares of UBS Group AG in accordance with their terms. The Notes are governed by Swiss law and have been provisionally admitted to trading on the SIX Swiss Exchange. Application will be made for definitive admission to trading and listing of the Notes on the SIX Swiss Exchange. The Homburger team was led by Stefan Kramer and Benedikt Maurenbrecher (both Capital Markets) and included Lee Saladino and Olivier Baum (both Capital Markets) as well as Stefan Oesterhelt (Tax).     Contact Gloria Pünchera/ Marketing / [email protected]

On February 10, 2026, UBS Group AG successfully completed its issuance of (i) USD 2 bn in aggregate principal amount of Fixed Rate/Floating Rate Callable Senior Notes due April 2030, (ii) USD 1.5 bn in aggregate principal amount of Fixed Rate/Floating Rate Callable Senior Notes due August 2037, (iii) USD 1.25 bn in aggregate principal amount of Fixed Rate/Floating Rate Callable Senior Notes due August 2032, and (iv) USD 500 m in aggregate principal amount of Floating Rate Callable Senior Notes due April 2030 under its Senior Debt Programme. The Notes are bail-inable (TLAC) bonds that are eligible to count towards UBS Group AG's Swiss gone concern capital requirement. The Notes are governed by Swiss law, and the Notes have been provisionally admitted to trading, and application will be made for definitive admission to trading and listing of the Notes, on the SIX Swiss Exchange. Homburger advised UBS Group AG with respect to all regulatory and transactional aspects of Swiss law. The Homburger team was led by Stefan Kramer and Benedikt Maurenbrecher and included Lee Saladino and Daniel Hulmann (both Capital Markets), as well as Stefan Oesterhelt (Tax).