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Bär & Karrer Ltd.

BRANDSCHENKESTRASSE 90, 8027 ZÜRICH, SWITZERLAND
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Geneva, Lugano, Zug, Zurich

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Bär & Karrer: 29 September 2015 - RAG Invests Into Perpetual Hybrid Convertible Bonds

October 2015

RAG-Stiftung Beteiligungsgesellschaft mbH based in Germany subscribed the CHF 60,000,000 2.5% Hybrid Convertible Bonds issued by Siegfried Holding AG in order to finance Siegfried's acquisition of significant elements of BASF's pharmaceutical supply Business.

The bond was issued on September 29, 2015, and entitles RAG-Stiftung Beteiligungsgesellschaft mbH to convert the amount within five years into Siegfried Holding AG shares, corresponding to a stake in Siegfried of about 7%.

Bär & Karrer acted as legal advisor to RAG-Stiftung Beteiligungsgesellschaft. The team included Thomas U. Reutter, Annette Weber, Anna Capaul and Rebecca Schori (all Capital Markets) as well as Daniel Lehmann (Tax).

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