Firm Profile > Bär & Karrer Ltd. > Zurich , Switzerland

Bär & Karrer Ltd.

Banking and finance: Zurich Tier 1

Bär & Karrer Ltd. is best known for handling financing deals, derivative transactions and debt structuring, as well as banking M&A. Regulatory advice, enforcement proceedings and investigations are additional focus areas. Peter Hsu advised Tellco Vorsorge on its acquisition of private bank Dominick Company, while Rashid Bahar acted for HQLAx on the first live securities lending transaction via R3's Corda blockchain platform. Eric Stupp acted for Copernicus during the establishment of a Swiss holding company and application for a FINMA licence. Transaction partner Ralph Malacrida, internal investigation practice lead Andreas Länzlinger and fintech partner Daniel Flühmann are other names to note.

Leading individuals

Capital markets Tier 1

Bär & Karrer Ltd. handles IPOs, capital transactions, equity-related matters, bond and notes issuance, as well as private placements and recapitalisation programmes. Thomas Reutter acted for syndicate banks Credit Suisse and Goldman Sachs on a combined offering worth CHF505m on the placement of shares and senior convertible bonds of Idorsia. Another highlight was its advice to the syndicate banks on Klingelnberg's CHF241m IPO. Swiss Re, Ceva Logistics and Novartis are among its other clients. M&A and finance lead Ralph Malacrida and transaction partner Rolf Watter are other core team members. Till Spillmann left for Niederer Kraft Frey AG at the beginning of 2018.

Commercial, corporate and M&A Tier 1

With a long-standing track record in public and private M&A and private equity transactions, as well as a sizeable corporate and regulatory team advising in all parts of Switzerland, Bär & Karrer Ltd. is one of the best known local practices. Banking M&A specialist Ralph Malacrida led advice to BZ Bank on the acquisition of United Grinding Group, while Christoph Neeracher assisted Porterhouse with its purchase of clinic group Paracelsus. Mariel Hoch and Thomas Reutter assisted Clearstream International with buying all shares in Swisscanto Funds Centre. Rolf Watter is another name to note.

Dispute resolution: arbitration Tier 1

The multilingual team at Bär & Karrer Ltd. has 'excellent knowledge of Swiss law', focusing on M&A, private client, intellectual property and IT disputes for a range of companies in the scientific, automotive, media and technology industries. Pierre-Yves Gunter serves as chairman in a $700m ICC arbitration proceeding concerning the Panama canal, and also co-represents the National Iranian Gas Company in a €5bn gas dispute against claimant Turkmengas. Daniel Hochstrasser in Zurich and the 'terrific' Geneva-based Saverio Lembo, who 'has excellent practical judgement', are also key partners.

Leading individuals

Dispute resolution: litigation Tier 1

Full-service firm Bär & Karrer Ltd. stands out for its 'in-depth know-how and pragmatic legal advice', as well as its 'experience in complex international cases and good relationships with other relevant entities'. The ten-partner team is best known for M&A, private client, intellectual property, IT litigation and white-collar criminal law matters. In a pending matter before the Swiss Supreme Court, Pierre-Yves Gunter and Aurélie Conrad Hari are instructed by Omea to enforce an award against the Republic of Equatorial Guinea in order to secure a payment of more than €95m, while Matthew T Reiter represented an industrial company in a successful appeal proceeding before the Zurich Superior Court concerning profit margins related to a share purchase agreement. 'Excellent outside-the-box thinkerAndreas Länzlinger acts for an insurance carrier as respondent to the insured in a proceeding regarding alleged claims under a professional indemnity insurance policy. Saverio Lembo is a key partner in Geneva.

Employment Tier 1

With a 'dedicated team for immigration issues', Bär & Karrer Ltd. 'focuses clearly on the specifics of a matter'. The practice is also experienced in employment law support during transactions, restructurings and litigation, as well as advising on executive compensation, sports employment law and general contracts. 'Competent, proactive and client-focused' department head Thomas Stoltz and counsel Laura Widmer are the key names.

Next Generation Partners

Healthcare and life sciences Tier 1

Bär & Karrer Ltd. is one of the best known firms for transactions in the Swiss pharmaceutical market, while also providing regulatory, distribution, advertising, intellectual property and general contractual expertise. IP specialist Markus Wang worked on the sale of interests in client Humabs BioMed to Vir Biotechnology, while Markus Schott assisted Vyaire Medical with the regulatory aspects of its acquisition of the entirety of shares in Acutronic Medical Systems.

Leading firms: German-speaking Switzerland Tier 1

Bär & Karrer Ltd. in Zurich and Zug impresses with 'partner commitment, responsiveness, legal expertise in various areas and good communication'. The full-service firm is especially renowned in banking and finance, capital markets, corporate and M&A, as well as competition, dispute resolution, white-collar criminal law, insurance, private client and sports law. Key lawyers include Eric StuppRalph Malacrida and Thomas ReutterChristoph NeeracherPeter HsuTina WüstemannSusanne Schreiber and Michele Bernasconi.

Leading firms: Italian-speaking Switzerland Tier 1

Bär & Karrer Ltd. in Lugano covers M&A, banking, dispute resolution, tax and private client law. Paolo Bottini, Andrea Gamba, Cesare Jermini and Massimo Vanotti make up the team of partners.

Private client Tier 1

Bär & Karrer Ltd. is 'one of the go-to firms in Switzerland' in this space, due to its 'personal commitment, top private client lawyers, strong technical skills and good client relationships' and it has 'an excellent and highly regarded practice'. With an office in every region, the multilingual team often acts as a coordinator in international matters for entrepreneurs, family offices and high-net-worth individuals. Practice head Tina Wüstemann, who 'is bursting with inspiring energy', is well known for handling estate and succession planning, as well as estate administration and contentious trust and estate matters. Clients also recommend 'thoughtful' partner Daniel Leu, 'up-and-coming' Geneva partner Aurélie Conrad Hari, 'experienced and solution-orientedDaniel Bader and 'great notaryMassimo Vanotti.

Leading individuals

Next Generation Partners

Public law Tier 1

The public law practice at Bär & Karrer Ltd. has considerable expertise in infrastructure matters, including pipelines, grids, telecoms networks and transport, as well as export control issues and strength in the education, healthcare, food, financial and gambling sectors. In the energy field, Phyllis Scholl assists Swissgrid, Pronovo and Foundation KEV with the outsourcing of the network surcharges execution and guarantees of origin to a subsidiary of Swissgrid. Regulatory and administrative adviser and litigator Markus Schott is another key contact.

Real estate and construction Tier 1

Bär & Karrer Ltd. handles real estate and development project transactions and sector-related capital market matters. Corrado Rampini and Thomas Reutter advised Andermatt Swiss Alps on the sale of a portfolio consisting of 25 properties to real estate joint venture Taurus Andermatt. Other clients include PSP Swiss Property and Porterhouse.

Leading individuals

Sports law Tier 1

As 'one of the best firms in the sector', the 'highly specialised and effective sports law team' at Bär & Karrer Ltd. 'is very skilled in applying Swiss-law matters to international jurisdictions'. With a major focus on diverse sports arbitration, as well as sector-related commercial, TMT and intellectual property disputes, Michele Bernasconi is considered to be 'among the best CAS arbitrators', with 'almost incomparable knowledge and experience'. He represents Uefa in several disciplinary and media-related arbitration matters.

Leading individuals

Tax Tier 1

The 'friendly, supportive and solution-oriented' tax team at Bär & Karrer Ltd. impresses with 'very strong technical skills', 'high availability' and 'a good client focus'. Core areas of expertise include assistance with M&A, capital markets and financing transactions, international corporate taxation, as well as tax restructuring for businesses and private clients, negotiation with authorities and tax litigation. 'Analytical and very successful' team lead Susanne Schreiber, who 'delivers tailored solutions', advised Saint-Gobain on the tripartite tax structure, including authority negotiations during the rulings, of its CHF3.2bn purchase of Sika. Co-lead Daniel Bader is 'an exceptional tax lawyer with very good commercial skills'. Christoph Suter and Paolo Bottini are the respective key contacts in Geneva and Lugano.

Leading individuals

Banking and finance: Geneva Tier 2

Bär & Karrer Ltd. is best known for advising financial institutions on regulatory and compliance issues, internal restructurings and financings, as well as during enforcement proceedings, white-collar criminal law matters and investigations. Rashid Bahar assisted Forte Securities with obtaining a licence from FINMA related to the opening of a representative office in Switzerland. Team lead Cédric Chapuis, financing transaction partner Martin Anderson and financial products lawyer Frédéric Bétrisey are the names to note.

Leading individuals

Competition Tier 2

Bär & Karrer Ltd.'s multi-lingual competition team is especially renowned for its assistance during cartel and abuse-of-dominance investigations launched by the competition commission. It further covers merger control proceedings and antitrust matters. Key partner Mani Reinert led on the competition advice to Summer Capital during its acquisition of Swiss Education Group, and also assisted Saint-Gobain with merger control questions concerning its combination with Sika.

Leading individuals

Insolvency and corporate recovery Tier 2

Bär & Karrer Ltd. is best known for applying its corporate and transactional experience to out-of-court restructurings, as well as assisting clients from the financial sector with recovery and resolution planning, regulatory intervention and insolvency proceedings. In recent work, Cédric Chapuis is advising Standard Chartered Bank on the voluntary liquidation and wind-down of its Swiss private banking subsidiary, and is also chairing the creditors' commission in Banque Privée Espírito Santo's liquidation. Insolvency specialist Thomas Rohde and transactions partner Ralph Malacrida jointly head the practice.

Insurance Tier 2

The 'highly experienced and knowledgeable practice group' at Bär & Karrer Ltd. has 'in-depth, practical expertise in insurance regulation matters and FINMA's supervisory standards'. Tied into the banking, life sciences and dispute resolution departments, the nine-partner team counts Allianz Suisse Versicherungs-Gesellschaft, Chubb Insurance and AON Schweiz among its clients. 'Highly knowledgeable, supportive and responsive' lead Peter Hsu advised Goldman Sachs and Credit Suisse on a transaction involving Swiss Export Risk Insurance guaranteeing the financing of a Brazilian power plant through a $1bn bond issuance. 'Outstanding, high-calibre lawyerRoland Truffer assisted Swiss Re with the re-domiciliation of Swiss Re Asia from Zurich to Singapore.

Intellectual property Tier 2

Bär & Karrer Ltd. is well known for handling IP matters in connection with M&A and capital markets transactions for clients in the technology, life sciences, pharmaceutical and consumer goods industries, while also representing clients in licensing arbitration, patent litigation and rights disputes involving artists and event organisers. Markus Wang acts for a licensor from the sports equipment industry in several injunction proceedings against the licensee concerning the upcoming termination of their relationship.

Leading firms: French-speaking Switzerland Tier 2

Bär & Karrer Ltd.'s team impresses with its 'straight-to-the-point advice, great availability and efficiency'. Its practice groups are uniquely strong in handling transactions, as well as banking, regulatory, dispute resolution and white-collar criminal law matters. Cédric Chapuis, Saverio Lembo, Pierre-Yves Gunter and 'skilled arbitrator' Alexandra Johnson are the names to note. The Geneva office was further bolstered by the arrivals of Martin Anderson and Frederic Betrisey from Baker McKenzie.

TMT Tier 2

'Highly professional and responsive firmBär & Karrer Ltd. 'is the go-to firm for international companies', 'providing the perfect mix of extraordinary legal skills, deep industry knowledge, proactivity and kind personal treatment'. Its range of TMT services includes M&A transactions and joint ventures, software contracts and IT outsourcing projects, regulatory telecoms law, as well as intellectual property, commercial, tax and estate planning assistance for artists in the media and entertainment sector. 'Readily available, business-minded and technically excellentMarkus Wang handled the software and intellectual property aspects of the client's (an affiliate of Warburg Pincus) acquisition of a stake in Avaloq. 'Leading lawyerMichele Bernasconi, who is 'a smart strategist' and 'makes a practical and straightforward approach to legal problems', serves as a regular adviser to, and Facebook on regulatory and compliance issues.

Leading individuals

Transport Tier 3

The transport department at Bär & Karrer Ltd. covers finance, M&A, regulatory, employment, competition, data protection and contentious matters from the aviation, maritime, road and rail sectors. M&A specialist Christoph Neeracher acted for Matternet in negotiations with Swiss Post concerning the provision of unmanned aerial systems for drone delivery. Corporate and commercial partner Luca Jagmetti  heads the practice.

Legal market overview

The legal market in Switzerland is characterised by a decentralised structure, spreading from French-speaking Geneva and Lausanne in the west to German-speaking cities Bern, Basel and Zurich in the east. Contrary to the broadly international approach of legal hotspots Zurich and Geneva, the Italian-speaking canton of Ticino has its legal centre in Lugano, focusing on instructions from local and South European clients. While Zurich is well known for its corporate, public banking and capital markets strength, as well as ongoing links to German and US-based corporations, Geneva firms are uniquely placed around a strong private banking sector, leading players of the sports industry and a global commodity trading hub.

During the past year, Swiss firms saw thriving activity in mid-market transactions, an increase in tax controversies, sports disputes and white-collar criminal law matters, as well as major overhauls in European and domestic data protection law. Banking and financial regulation is also keeping teams active, mainly due to the implementation of the financial instruments directive MiFID II and upcoming product regulations contained in the Financial Services Act (FinSA/FIDLEG), the latter of which is going to impact the liability of private banks and wealth managers. Another booming sector is fintech. As the financial market authority FINMA strives to offer a safer, more regulated environment through the publication of guidelines, Switzerland has now become one of the go-to jurisdictions regarding initial coin offerings (ICOs).

The market is still dominated by traditional Swiss firms such as Bär & Karrer Ltd., Schellenberg Wittmer Ltd, Homburger and Niederer Kraft Frey AG, while Walder Wyss Ltd has notably increased its headcount, expertise and visibility significantly in recent years. The ranking also includes newly established Swiss boutique firms, for example TIMES Attorneys and HOUSE ATTORNEYS, as well as several US firms that have strengthened their footing in Switzerland during the past months, including Quinn Emanuel Urquhart & Sullivan (Schweiz) GmbH.

Bär & Karrer is a renowned Swiss law firm with more than 170 lawyers in Zurich, Geneva, Lugano and Zug.

Our core business is advising our clients on innovative and complex transactions and representing them in litigation, arbitration and regulatory proceedings. Our clients range from multinational corporations to private individuals in Switzerland and around the world.

Most of our work has an international component. We have broad experience handling cross-border proceedings and transactions. Our extensive network consists of correspondent law firms which are all market leaders in their jurisdictions.

Bär & Karrer was repeatedly awarded Switzerland Law Firm of the Year by the most important international legal ranking agencies in recent years.

2019 STEP Award (“International Legal Team of the Year”)
2019 Citywealth Magic Circle Award (“Law Firm of the Year – Switzerland”)
2019, 2015 and 2014 IFLR Award
2019 IFLR Debt and equity-linked Deal of the Year
2019, 2018, 2016, 2015 and 2014 Mergermarket European M&A Award (“Legal Adviser of the Year”)
2018 IFLR M&A Deal of the Year
2018 Best in Trusts & Estates by Euromoney LMG
2018, 2017 Trophées du Droit Silver
2016, 2013 and 2012 Chambers Award
2016, 2015 and 2014 Legal 500 (“most recommended law firm in Switzerland”)
2016 Trophées du Droit Gold
2015, 2014, 2013, 2011, 2010 The Lawyer European Award
2015 Citywealth Magic Circle Award (“Law firm of the Year – EMEA”)
2014 Citywealth International Financial Centre Award

Department Name Email Telephone
Arbitration Daniel Hochstrasser +41 58 261 50 00
Arbitration Pierre-Yves Gunter +41 58 261 57 00
Banking and insurance Eric Stupp +41 58 261 50 00
Banking and insurance Peter Hsu +41 58 261 53 94
Banking and insurance Cédric Chapuis +41 58 261 57 00
Banking and insurance Rashid Bahar +41 58 261 53 92
Banking and insurance Daniel Flühmann +41 58 261 56 08
Capital markets Thomas U. Reutter +41 58 261 52 84
Competition law Mani Reinert +41 58 261 52 88
Corporate and commercial Michael Trippel +41 58 261 50 00
Corporate and commercial Urs Kägi +41 58 261 56 13
Corporate governance Rolf Watter +41 58 261 50 00
Data protection Corrado Rampini +41 58 261 52 83
Employment Thomas Stoltz +41 58 261 59 00
Energy and natural resources Markus Schott +41 58 261 54 77
Financing Ralph Malacrida +41 58 261 50 00
Financing Frédéric Bétrisey +41 58 261 57 00
Fintech Eric Stupp +41 58 261 50 00
Fintech Daniel Flühmann +41 58 261 56 08
Funds, financial products and asset management Rashid Bahar +41 58 261 53 92
Internal investigation Andreas Länzlinger +41 58 261 50 00
Internal investigation Eric Stupp +41 58 261 50 00
IP and technology Markus Wang +41 58 261 55 10
Life sciences Markus Wang +41 58 261 55 10
Life sciences Markus Schott +41 58 261 54 77
Listed companies Dieter Dubs +41 58 261 50 00
Litigation Matthew T. Reiter +41 58 261 50 00
Media, entertainment and sports Michele Bernasconi +41 58 261 50 00
Mergers and acquisitions Rolf Watter +41 58 261 50 00
Mergers and acquisitions Christoph Neeracher +41 58 261 52 64
Mergers and acquisitions Mariel Hoch +41 58 261 55 99
Mergers and acquisitions Dieter Dubs +41 58 261 50 00
Mergers and acquisitions Ralph Malacrida +41 58 261 50 00
Mergers and acquisitions Martin Anderson +41 58 261 57 00
Mergers and acquisitions Paolo Bottini +41 58 261 58 00
Notarial services Thomas Stoltz +41 58 261 59 00
Private clients Tina Wüstemann +41 58 261 50 00
Real estate Corrado Rampini +41 58 261 52 83
Reorganisation and insolvency Thomas Rhode +41 58 261 52 31
Startup Desk Christoph Neeracher +41 58 261 52 64
Startup Desk Raphael Annasohn +41 58 261 52 65
Tax Daniel Bader +41 58 261 54 32
Tax Susanne Schreiber +41 58 261 52 12
Transport and logistics Luca Jagmetti +41 58 261 52 62
White-collar crime Saverio Lembo +41 58 261 57 00
Photo Name Position Profile
Mr Martin Anderson  photo Mr Martin Anderson
Mr Raphael Annasohn  photo Mr Raphael Annasohn
Mr Gianpaolo Arrigoni  photo Mr Gianpaolo Arrigoni
Dr Andreas Bär  photo Dr Andreas Bär
Mr Frédéric Bétrisey  photo Mr Frédéric Bétrisey
Mr Daniel Bader  photo Mr Daniel Bader
Prof Dr Rashid Bahar  photo Prof Dr Rashid Bahar
Ms Marie-Christine Balzan  photo Ms Marie-Christine Balzan
Mr Michele Bernasconi  photo Mr Michele Bernasconi
Dr Ruth Bloch-Riemer  photo Dr Ruth Bloch-Riemer
Mr Paolo Bottini  photo Mr Paolo Bottini
Mr Urs Brügger  photo Mr Urs Brügger
Dr Cédric Chapuis  photo Dr Cédric Chapuis
Ms Aurélie Conrad Hari  photo Ms Aurélie Conrad Hari
Dr Dieter Dubs  photo Dr Dieter Dubs
Dr Daniel Flühmann  photo Dr Daniel Flühmann
Mr Andrea Gamba  photo Mr Andrea Gamba
Prof Dr Andrew M. Garbarski  photo Prof Dr Andrew M. Garbarski
Mr Pierre-Yves Gunter  photo Mr Pierre-Yves Gunter
Dr Mariel Hoch  photo Dr Mariel Hoch
Mr Daniel Hochstrasser  photo Mr Daniel Hochstrasser
Dr Peter Hsu  photo Dr Peter Hsu
Dr Luca Jagmetti  photo Dr Luca Jagmetti
Mrs Nadja Jaisli Kull  photo Mrs Nadja Jaisli Kull
Dr Cesare Jermini  photo Dr Cesare Jermini
Ms Alexandra C. Johnson  photo Ms Alexandra C. Johnson
Ms Anne Valérie Julen Berthod  photo Ms Anne Valérie Julen Berthod
Dr Urs Kägi  photo Dr Urs Kägi
Dr Andreas D Länzlinger  photo Dr Andreas D Länzlinger
Dr Daniel U. Lehmann  photo Dr Daniel U. Lehmann
Mr Saverio Lembo  photo Mr Saverio Lembo
Dr Daniel Leu  photo Dr Daniel Leu
Dr Ralph Malacrida  photo Dr Ralph Malacrida
Dr Christoph Neeracher  photo Dr Christoph Neeracher
Prof Dr Andrea Opel  photo Prof Dr Andrea Opel
Dr Corrado Rampini  photo Dr Corrado Rampini
Mr Daniel Raun  photo Mr Daniel Raun
Dr Mani Reinert  photo Dr Mani Reinert
Mr Matthew T Reiter  photo Mr Matthew T Reiter
Dr Thomas U Reutter  photo Dr Thomas U Reutter
Mr Lukas Roesler  photo Mr Lukas Roesler
Mr Thomas Rohde  photo Mr Thomas Rohde
Prof Dr Markus Schott  photo Prof Dr Markus Schott
Ms Susanne Schreiber  photo Ms Susanne Schreiber
Dr Philippe Seiler  photo Dr Philippe Seiler
Mr Thomas Stoltz  photo Mr Thomas Stoltz
Mr Eric Stupp  photo Mr Eric Stupp
Mr Christoph Suter  photo Mr Christoph Suter
Mr Michael Trippel  photo Mr Michael Trippel
Mr Roland Truffer  photo Mr Roland Truffer
Mr Massimo Vanotti  photo Mr Massimo Vanotti
Ms Tina Wüstemann  photo Ms Tina Wüstemann
Dr Markus Wang  photo Dr Markus Wang
Prof Dr Rolf Watter  photo Prof Dr Rolf Watter
Ms Laura Widmer  photo Ms Laura Widmer
Number of lawyers : 170+


Bär & Karrer has an established practice advising banks, securities dealers, insurance and reinsurance companies, and other financial institutions in Switzerland and around the world.

We represent financial institutions, issuers, investors, and other market participants in enforcement proceedings of the Swiss Financial Market Supervisory Authority FINMA.


Bär & Karrer has an established practice advising banks, securities dealers, insurance and reinsurance companies, and other financial institutions in Switzerland and around the world.

We represent financial institutions, issuers, investors, and other market participants in enforcement proceedings of the Swiss Financial Market Supervisory Authority FINMA.

Bär & Karrer Advised the Seller of the Specken Drumag Group

The Specken Drumag group has been sold by its owner to Halder Beteiligungsberatung GmbH, an independent German investment company. The Specken Drumag group has more than 100 years of experience as a developer and producer of systems and solutions in the pneumatics, hydropneumatics, hydraulics and proportional technology sector and is present in Switzerland, Germany and Lithuania.

Bär & Karrer awarded by Mergermarket as “Switzerland M&A Legal Adviser of the Year 2018”

At this year's Mergermarket European Awards Ceremony on 6 December 2018 in London, Bär & Karrer has been awarded as the "Switzerland M&A Legal Adviser of the Year 2018".

Mergermarket, an independent mergers and acquisitions intelligence and data service, honors the work of leading law firms and financial advisers across Europe every year. The selection is based on a comprehensive analysis of transaction data from the Mergermarket's M&A deals database with consideration of key criteria such as complexity, structure as well as groundbreaking and strategic nature of the deals. The judging panel including leading European M&A practitioners chose Bär & Karrer already for the fourth time from among six shortlisted law firms that were particularly active in the Swiss M&A market in 2018.

Bär & Karrer Advises the Sellers of Astes4 SA

The owners of Astes4 SA, a company based in Balerna, Switzerland, which is engaged in development, production and sales of patented automated sorting solutions for sheet metal laser processing machines, sold their interests in the company to Mitsubishi Electric Corporation. Mitsubishi Electric is active in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. By acquiring Astes4, Mitsubishi Electric will further strengthen its lineup of automation systems together with sorting solutions for sheet metal laser processing machines to provide its valued customers with integrated solutions that require less manual loading, unloading and sorting to realize higher productivity and efficiency.

Bär & Karrer acted as legal advisor of the Sellers of Astes4 SA in this transaction. The team included Paolo Bottini and Edoardo Buzzi (both M&A).

Bär & Karrer Advises Constellium on the Sale of Rolling Business Assets in Sierre, Switzerland, to

On 23 July 2018, Constellium Valais SA, a company of the Constellium group engaged in the aluminium plate and extrusions businesses for industry, aerospace and transportation applications, successfully completed the sale of its aluminium rolling business assets in Sierre, Switzerland, to Novelis Switzerland SA for EUR 200 million. The assets, consisting of real estate, machinery and equipment, were previously leased by Constellium Valais to Novelis Switzerland and both parties will continue to operate in Sierre following the transaction. Concurrently with the asset sale, Constellium Valais contributed the Sierre site's shared infrastructure to a newly established 50-50 joint venture with Novelis Switzerland.

Bär & Karrer acted as legal advisor to Constellium Valais in this transaction. The team included Peter Hsu, Daniel Flühmann, Thomas Rohde, Urs Kägi, Daniel Küpfer, Marcel Züger, Annina Hammer, Tiffany Ender and Matthias Tanner (all Corporate), Corrado Rampini, Charles Gschwind and Grégory Pauli (all Real Estate), Mani Reinert (Competition), Laura Widmer (Employment), Ruth Bloch-Riemer (Pension), Raima Sherifoska (Notarial Services) as well as Nadja Jaisli Kull and Kaspar Projer.

Bär & Karrer Advises Bank Cler in Connection with the Public Tender Offer by Cantonal Bank of Basel

On 20 June 2018, the Cantonal Bank of Basel, which already holds 77.52% of the share capital and the voting rights of Bank Cler Ltd., published the preannouncement for a public tender offer for all publicly held bearer shares of Bank Cler, which is listed on the SIX Swiss Exchange. Subsequently, Bank Cler concluded a transaction agreement with the Cantonal Bank of Basel regarding the public tender offer. The Cantonal Bank of Basel offers CHF 52 per share of Bank Cler. Taking into consideration the results of the Fairness Opinion of an independent Expert, the board of directors of Bank Cler recommends to its shareholders to accept the offer.

Bär & Karrer advises Bank Cler in connection with this transaction. The team of Bär & Karrer includes Urs Brügger, Dieter Dubs, Fabienne Perlini and Marc Poltéra (all M&A).

Bär & Karrer Successful in Appeal Proceedings before the Federal Administrative Court Against the F

On 11 May 2016, the French tax authorities requested administrative assistance from the Swiss Federal Tax Administration. The request was made based on lists containing several thousand UBS Switzerland AG account numbers which are or were held by persons presumed to be French residents for tax purposes. The French tax authorities were asking for Switzerland to provide names and dates of birth of the persons connected to the accounts as well as the account balances. UBS Switzerland AG (which the Federal Administrative Court ("FAC") had granted party status in its judgment A-4974/2016 of 25 October 2016) and private individuals directly affected lodged appeals with the FAC against the Federal Tax Administration’s final decisions, which were issued on 9 February 2018.

Bär & Karrer advises E. Schubiger & Cie. in the Sale of a Development Property

E. Schubiger & Cie. AG sold its weaving mill site in Uznach, Switzerland to Fortimo Group AG. The development project that will be realized in and around the historic factory building comprises 130 rental and condominium apartments, 6,000 sqm of office and retail area and as well as 280 parking spaces.

Bär & Karrer advised E. Schubiger & Cie. as seller in this transaction. The team included Corrado Rampini and Oliver Rüdlinger (both real estate).

Bär & Karrer Advises BZ Bank on Purchase of United Grinding Group

BZ Bank Aktiengesellschaft, through its acquisition company LEMRO AG, purchased the United Grinding Group from Körber Beteiligungen GmbH. The United Grinding Group is one of the world's leading suppliers of precision grinding machines.

Bär & Karrer advised PSP Swiss Property on Sale of a Commercial Property

PSP Swiss Property sold a commercial property in Petit-Lancy, Geneva. The property at the Av. des Morgines 8/10 (approx. 14'000 m2 of rentable space) was sold for CHF 55 million to an affiliate company of Epic Suisse AG.

Bär & Karrer Advises Credit Suisse and Goldman Sachs in a Combined Offering on the Placement of Sha

Idorsia Ltd successfully placed 11,912,000 new shares by way of an accelerated bookbuilding in a private placement with institutional investors. The placed shares are sourced from the company's existing authorized share capital and the pre-emptive rights of the existing shareholders have been excluded. The offer price was set at CHF 25.62 per share. Additionally, Idorsia successfully placed CHF 200 million of senior unsecured convertible bonds due 2024 in a private placement with institutional investors.

Bär & Karrer Advises Vontobel on the Placement of CHF 450 Million Tier 1 Bonds to fund the acquisit

Vontobel Holding AG successfully completed the placement of CHF 450 million perpetual additional tier 1 subordinated bonds. The additional tier 1 subordinated bonds were issued at 100% of their nominal amount with an interest of 2.625% until 2023. The proceeds of this capital market transaction will be mainly used to finance the acquisition of Notenstein La Roche Private Bank.

Bär & Karrer Advised Swiss Re in the Offering of USD 500 Million Senior Exchangeable Notes with Iss

Swiss Re Ltd (Swiss Re) has completed an offering of USD 500 million, 6-year senior exchangeable notes, which may be stock settled at the option of Swiss Re or may be exchanged at the option of noteholders for registered shares of Swiss Re, unless Swiss Re elects to settle the exchange of notes in cash. Swiss Re has purchased call options on its own shares, which allow it to settle an exchange by noteholders without issuing new shares.

Bär & Karrer Advises Credit Suisse and Bank Berenberg in the IPO of Klingelnberg

Klingelnberg Ltd, a global leader in developing and manufacturing premium machine tools for bevel gear and cylindrical gear machining and precision measuring centers for gears, successfully priced its IPO and listed its shares on the SIX Swiss Exchange. Trading in the shares started on 20 June 2018. The shares of Klingelnberg were priced at CHF 53 per share, near the upper end of the price range, corresponding to a base offer of CHF 241 million. The offer price implies a market capitalization of approx. CHF 470 million leading to a free float of 56.6% (assuming full exercise of the over-allotment option), whereas the remaining 43.4% remain with the Klingelnberg family as anchor shareholder.

Bär & Karrer Advises Summer Capital on the Acquisition of Swiss Education Group

Summer Capital, an Asia based investment management company, has acquired, by means of an affiliate, all shares of Swiss Education Group Holding AG, the holding company of the SEG group, a leading hospitality management education group that operates several schools in Switzerland.

Bär & Karrer advises Coresystems FSM on the takeover by SAP (Schweiz)

The software company SAP bought all shares of Coresystems FSM AG. Coresystems FSM develops and runs workforce-management software based on a Crowd Service platform which uses artificial intelligence and allows finding available field-service technicians in real time.

Bär & Karrer Strengthens its M&A and Banking Practice with two new Partners

Bär & Karrer is pleased to announce that it further strengthens its M&A and banking practice with new partners Martin Anderson and Frédéric Bétrisey. They will join the firm with their team of associates as of 1 August 2018.

Bär & Karrer Advises XO Holding on Sale of Priora FM to ENGIE

XO Holding AG sold Priora FM SA, a leading Swiss facility management company, to ENGIE Energy Services International S.A., a subsidiary of ENGIE SA, which is listed on the Euronext exchange in Paris and Brussels.

Bär & Karrer acted as legal advisor to XO Holding. The team included Ralph Malacrida, Faton Aliu (both M&A), Mani Reinert (Competition), and Daniel Lehmann (Tax).

Bär & Karrer Advised Andermatt Swiss Alps on the Sale of Real Estate Portfolio and Establishment of

Andermatt Swiss Alps Ltd has successfully completed a transaction comprising a real estate portfolio sale to Taurus Andermatt Ltd, a newly established real estate joint venture. The portfolio consists of 25 properties located in the Holiday Village Andermatt Reuss in Andermatt (Switzerland). Andermatt Swiss Alps will participate in future sales profits exceeding the list price of the properties.

Bär & Karrer Advises the Banking Syndicate in the IPO of Polyphor

Polyphor Ltd, a clinical-stage biopharmaceutical company focused on the discovery and development of innovative antibiotics and other specialty pharma products, successfully priced its IPO and listed its shares on the SIX Swiss Exchange. Trading in the shares started on 15 May 2018. The shares were priced at the upper end of the price range, resulting in gross proceeds of CHF 165 million. The IPO of Polyphor is considered the largest biotech IPO in Switzerland in over 10 years and one of the top three in Europe within the last three years in terms of proceeds raised by an issuer in order to finance the development of its pipeline.

Bär & Karrer Advises Saint-Gobain in connection with the Takeover Battle over Sika

This morning, Sika and Saint-Gobain have announced the signing of agreements which terminates all disputes around the purchase by Saint-Gobain of a controlling stake in Sika dated 5 December 2014.

Bär & Karrer Advised Vyaire Medical on its Acquisition of imtmedical ag

Vyaire Medical, Inc., a global leader in respiratory care, completed the acquisition of all shares in imtmedical AG, a Swiss company, which is a developer, manufacturer and distributor of mechanical ventilation products.

Bär & Karrer Advises CEVA Logistics on its IPO, the anchor investment by CMA CGM and its migration

CEVA Logistics, one of the world's leading third-party logistics companies, successfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 4 May 2018. With a market capitalization of CHF 1.6 billion and generating gross proceeds of CHF 821 million, this is so far considered as the largest IPO on the SIX Swiss Exchange for 2018. In addition, CMA CGM, the third largest container shipping group in the world, has committed to make a strategic cornerstone investment in CEVA Logistics by purchasing CHF 379 million of mandatory convertible securities which will convert into shares of CEVA Logistics once certain regulatory approvals have been obtained. Simultaneously with the IPO, CEVA Holdings, the former holding company of the CEVA group, migrated from the Marshall Islands to Switzerland by way of a cross-border merger with CEVA Logistic as the surviving company.

Bär & Karrer Advises on the Financing of the Largest Thermoelectric Plant in Latin America

Centrais Elétricas de Sergipe S.A. (CELSE) has successfully issued bonds for approx. USD 1 billion equivalent in local currency at a fixed, long-term rate in international capital markets. The innovative bond issue is guaranteed by the Swiss Export Risk Insurance (SERV), the export credit agency of Switzerland. The bonds are part of a financial package to finance the development, design, construction, operation and maintenance of a thermoelectric power plant by CELSE in the state of Sergipe in the northeast region of Brazil. Besides the bond issue for approx. USD 1 billion, the transaction includes a USD 200 million loan from the International Finance Corporation and a financial package of the Inter-American Development Bank in the amount of approx. USD 300 million. Once operational expected for in 2020, CELSE will sell electricity to 26 distribution companies in Brazil, becoming the largest and most efficient thermoelectric plant in Latin America and the Caribbean.

Bär & Karrer Advises on Partial Self-Tender Offer

On 21 September 2017, an extraordinary shareholders' meeting of the SIX Swiss Exchange listed N.V. authorized the board of directors to repurchase up to 33 1/3% of the company's share capital by means of a partial self-tender offer. The resolution adopted under Dutch law contained detailed information, among others regarding the period for which the authorization is granted, the manner in which the shares are repurchased and the price range within which the offer price must be set.

Bär & Karrer Advises Vyaire Medical on its Acquisition of Acutronic Medical Systems

Vyaire Medical, Inc., a global leader in respiratory care, acquired all shares in the Acutronic Medical Systems group, a Switzerland and Germany-based leader in the design and manufacture of neonatal ventilation equipment.

Bär & Karrer Advises Porterhouse on the Acquisition of the Clinic Group Paracelsus

Porterhouse Group AG, a family owned investment holding company based in Lucerne, has been accepted by the creditors’ committee to acquire the clinic group Paracelsus. The clinic group Paracelsus is a private hospital operator with 40 facilities in 22 locations. Completion is subject to the approval of the insolvency plans by the creditors’ committees and merger control approval by the German Federal Cartel Office.

Bär & Karrer Advises Deutsche Börse on the Acquisition of Swisscanto Funds Centre

Clearstream International S.A., a subsidiary of Deutsche Börse, acquired all shares in the London based Swisscanto Funds Centre Limited. The deal allows Clearstream to expand its services in the funds space with the management of distribution contracts and data processing. The purchase agreement was signed on 23 April 2018. The transaction is expected to close within the third quarter of 2018, subject to approval of the relevant authorities.

Bär & Karrer Awarded M&A Deal of the Year by IFLR

Bär & Karrer was awarded "M&A deal of the year" on the IFLR European Awards in London last night.

Based on a comprehensive analysis, Bär & Karrer received the award for the M&A Deal of the Year for the merger of ChemChina and Syngenta. The deal is considered as one of the largest all cash transactions ever. Bär & Karrer acted in this transaction as adviser to Syngenta. The team was led by Rolf Watter, Partner and Head of Mergers & Acquisitions.

Bär & Karrer Advised Copernicus Holding on the Establishment of its Structure and Obtaining a FINMA

Copernicus Group is a financial service provider in the canton Ticino for institutional and private UHNWI clients, offering also family office and wealth planning services. The group consists of Copernicus Asset Management SA and Copernicus Wealth Management and Services SA. On 20 March 2018, Copernicus Asset Management started operating as a fully licensed Swiss asset manager of collective investment schemes.

Bär & Karrer Advises Allianz Suisse on the Acquisition of DAS Switzerland

On 3 April 2018, Allianz Suisse Versicherungs-Gesellschaft AG has acquired all shares in DAS Rechtsschutz-Versicherungs-AG. Through this acquisition Allianz Swiss becomes one of the largest providers of legal protection insurance in the Swiss market.

Bär & Karrer Advises XO Holding on Sale of Priora to Eiffage Construction

XO Holding AG sold Priora AG, a leading Swiss project developer and general / total contractor (GC/TC), to Eiffage Construction SA, a French company forming part of the Euronext listed Eiffage group.

Bär & Karrer Advised Axcel on the Acquisition of Invima

The Danish private equity company Axcel has acquired all shares in Invima AB, a Swedish corporation, with its subsidiaries including two Swiss subsidiaries. Under the IsaDora brand, Invima AB is one of the Nordic region's leading manufacturers and distributors of cosmetics, with sales in approximately 5,000 stores in forty different countries. The seller Ingvar Vigstrand with family will remain as a minority owner in the new group.

Bär & Karrer Welcomes New Tax Counsel

Bär & Karrer is pleased to announce Prof. Dr. Andrea Opel as a new counsel to the firm. She joined the tax team in Zurich on 1 March 2018.

Andrea Opel studied Law at the University of Basel and then worked as academic assistant before completing her doctorate in 2008. She habilitated in 2015 at the University of Basel. Besides her counsel role at Bär & Karrer, Andrea Opel continues to act as professor for tax law at the University of Lucerne. She is a member of the board of the Institute of Business Law at University of Lucerne as well as a member of the Swiss Association of Tax Law Professors.

Bär & Karrer Advised Orior on the Placement of Shares by Way of an Accelerated Bookbuilding

Orior AG successfully placed 592,499 new shares by way of an accelerated bookbuilding in a private placement with institutional investors. The placed shares are sourced from the company's existing authorized share capital and the pre-emptive rights of the existing shareholders have been excluded.

Bär & Karrer Advised HQLAx on the first Live Securities Lending Transaction Using R3’s Corda Blockc

On 1 March 2018, financial technology innovator HQLAx together with Credit Suisse and ING completed the first live securities lending transaction using R3's Corda blockchain platform. The transaction included a basket swap between Credit Suisse and ING of value EUR 25 million using the HQLAx Corda-based collateral lending application. During the transaction, Credit Suisse and ING transferred legal ownership of Dutch and German government securities on the platform using HQLAx Digital Collateral Records (DCRs) while the underlying securities remained static.

Bär & Karrer Advises Novartis on the Placement of EUR 2,250,000,000 Guaranteed Notes

Novartis Finance S.A. completed the placement of EUR 750,000,000 Guaranteed Notes due 2023, EUR 750,000,000 Guaranteed Notes due 2030 and EUR 750,000,000 Guaranteed Notes due 2038. The 2023 Notes were issued at 99.655% of their principal amount with an interest of 0.500% and will mature on 14 August 2023 at their nominal value. The 2030 Notes were issued at 99.957% of their principal amount with an interest of 1.375% and will mature on 14 August 2030. The 2038 Notes were issued at 99.217% of their principal amount with an interest of 1.700% and will mature on 14 August 2038. The Notes are guaranteed by Novartis AG. They have been provisionally admitted to trading at the SIX Swiss Exchange and are expected to be listed there as well.

Bär & Karrer Advises EGSB on the Purchase of a Majority Stake in Bauwerk Boen

EGS Beteiligungen AG (EGSB) has acquired all shares in Bauwerk Boen AG held by ZM Opportunity II L.P. (a fund advised by Patrimonium Private Equity) and is thus majority shareholder of the company. The Bauwerk Boen Group is a leading manufacturer of premium parquet flooring.

Tamedia Announces Public Tender Offer for Goldbach Group

Tamedia AG announces an all cash public tender offer for all publicly held shares of Goldbach Group AG listed on the SIX Swiss Exchange. Tamedia offers CHF 35.50 per share of Goldbach Group, representing a transaction amount of around CHF 216 million. The board of directors of Goldbach Group recommends to its shareholders to accept the offer.


Bär & Karrer Advises AON Schweiz on the Acquisition of Unidelta

On 30 November 2017, AON Schweiz AG, a leading global service provider for risk management, insurance and reinsurance brokers as well as adviser on human resources, has acquired 100% of the shareholding in Unidelta AG, an all-branch insurance broker based in Rapperswil, Switzerland. Unidelta is specialized in risk management and has particular designed services in personal injury management.

Bär & Karrer Advises the Sellers of AWK Group

The owners of AWK Group AG sold the company to Deutsche Private Equity GmbH, an independent German investment company. AWK Group is one of the largest independent Swiss consulting firms for information technology and digitalization.

Bär & Karrer Advises Valora on its Rights Offering

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 KKR on a Follow-On Investment in GetYourGuide

KKR, a leading global investment firm, together with other investors, has closed an investment to increase its minority stake in GetYourGuide AG. GetYourGuide is the world's largest online platform for tours, activities and attractions and offers over 31,000 activities in nearly 7,300 destinations.

Bär & Karrer Advises Talbot Holding on its Public Tender Offer for ImmoMentum

On 29 August 2017, Talbot Holding AG, an entity controlled by investment company Actium AG, launched an all cash public tender offer for all listed shares in ImmoMentum AG, a Swiss real estate company listed on BX Berne eXchange invested primarily in residential real estate. With the satisfaction of all offer conditions, the offer was successfully settled on 10 November 2017. As a result, Talbot Holding holds 99.67% of the voting rights and share capital of ImmoMentum.

Bär & Karrer Advises Muhr und Bender on the Sale of its Stake in Feintool

On 3 October 2017, Dr. Thomas Muhr and Muhr und Bender KG sold their entire stake in Feintool International Holding AG (Feintool) amounting to 616,500 shares of Feintool corresponding to 13.81% of the total share capital of Feintool. The shares were sold to institutional investors through an accelerated bookbuilding process led by Bank Berenberg.

Bär & Karrer Advises Orior on the Placement of a CHF 110 Million Inaugural Bond Issue

Orior AG successfully completed the placement of its CHF 110 million inaugural bond issue. The bonds carry a coupon of 0.625% and will mature on 26 September 2023 at par. They have been provisionally admitted to trading at the SIX Swiss Exchange and are expected to be listed there as well. The issue was lead-managed by UBS AG and Zürcher Kantonalbank.

Bär & Karrer Advises Valora on the Acquisition of BackWerk

Valora has signed an agreement to acquire BackWerk from Swedish financial investor EQT. BackWerk is a German-based food service company with over 340 locations mainly in Germany, Austria and the Netherlands. Completion is subject to merger control approval.

Temasek Holdings (Private) Limited, an investment company based in Singapore, sold its stake in Dufr

Temasek Holdings (Private) Limited, an investment company based in Singapore, sold its stake in Dufry AG through its indirect wholly owned subsidiary to the HNA Group.

Bär & Karrer acted as legal advisor to Temasek. The team included Thomas U. Reutter, Roland Truffer, Annette Weber and Rebecca Schori (all M&A).

Bär & Karrer Advised Cummins on its Joint Venture with Eaton

The global power leader Cummins Inc. announced that it successfully completed the formation of a joint venture with the power management company Eaton, concerning the design, manufacture, sale and support of automated transmissions for heavy-duty and medium-duty commercial vehicles (named Eaton Cummins Automated Transmission Technologies). As part of the transaction, the Swiss company Eaton Cummins Automated Transmission Technologies Sàrl was formed earlier this year and Cummins acquired a 50% participation on 31 July 2017.

Bär & Karrer Advised Jacobs Holding on the Acquisition of a Majority Stake in OdontoSalute

Colosseum Dental Group, a fully owned portfolio company of Jacobs Holding AG, has acquired 70% of OdontoSalute, an Italian dental clinics group providing dental treatments of any kind through a national network. Colosseum is a leading provider of private dental care in the Scandinavian area, which is now operating in more than 150 clinics in Norway, Sweden, UK, Switzerland, Italy and Denmark and aiming at building a leading pan-European dentistry group. With this acquisition, Colosseum further expands into continental Europe and becomes one of the leading dentistry clinic operators in Italy.

Bär & Karrer Advised the Sellers of Rotronic

The owners of Rotronic AG, which develops and manufactures measuring technologies, sold the company to funds managed by Battery Ventures.

Bär & Karrer acted as legal adviser to the sellers in this transaction. The team included Christoph Neeracher, Thomas Rohde, Philippe Seiler, Yves Suter and Sarah Nyfeler (all M&A), Susanne Schreiber and Cyrill Diefenbacher (both tax) as well as Corrado Rampini and Charles Gschwind (both real estate).

Bär & Karrer Advises CliniSciences on the Acquisition of BIOTREND Chemicals

On 13 June 2017, CliniHolding S.à r.l. (CliniSciences) acquired the entire stake in BIOTREND Chemicals AG (BIOTREND) from its founders. BIOTREND is a leading distributor of high-quality reagents and biochemicals for the life science research community in Switzerland, Germany and USA.

Bär & Karrer Advises Banque Cantonale de Genève on the Placement of CHF 200 Million Additional Tie

Banque Cantonale de Genève successfully completed the placement of CHF 90 million perpetual additional tier 1 subordinated bonds and CHF 110 million tier 2 subordinated bonds due 2027. The additional tier 1 subordinated bonds were issued at 100% of their nominal amount with an interest of 2.00%. The tier 2 subordinated bonds were issued at 100.024% of their nominal amount with an interest of 1.125% and will mature on 28 June 2027 at their nominal amount. Both bonds have been provisionally admitted to trading at the SIX Swiss Exchange and are expected to be listed there as well. UBS AG, Zürcher Kantonalbank and Banque Cantonale de Genève acted as Joint Lead Managers.

Bär & Karrer wins Europe Women in Business Law Award

Bär & Karrer is pleased to announce that partner Tina Wüstemann, who heads the private clients team, won the title 'Best in trusts & estates' at the Europe Women in Business Law Awards ceremony on 15 June 2017 in London. This is the second time Tina Wüstemann wins this award. In addition, partner and dispute resolution specialist Nadja Jaisli Kull was shortlisted as 'Rising Star Litigation'.

Bär & Karrer Advises Groupe Acrotec on its Placement of CHF 70 Million 3.75% Bonds

Groupe Acrotec SA, a high precision manufacturer of small components and specialised service provider for the watchmaking and industrial sectors, has completed the placement of CHF 70 million 3.75% bonds due 2023. The bonds were issued at 100% of their principal amount and, unless previously redeemed or repurchased and cancelled, will mature on 14 June 2023 at 100% of their principal amount. The bonds are guaranteed by a number of subsidiaries of the issuer, among them Finacrotec SA, which as substitute guarantor fulfills certain requirements under the listing rules of SIX Swiss Exchange in the place of the issuer. Credit Suisse AG acted as Lead Manager and Bookrunner.

Bär & Karrer Advised UBS on its Shared Services Transfer to UBS Business Solutions AG

Through a series of transactions which were completed for the most part in early June, UBS AG and other UBS group companies transferred group shared services functions, which are mainly based in Switzerland, in the UK and the US, to UBS Business Solutions AG and other related service companies. UBS Business Solutions AG now operates as the group service company of UBS and is a wholly owned subsidiary of UBS Group AG. The implementation of UBS Business Solutions AG enables UBS to maintain operational continuity of critical services should a recovery or resolution occur. It represents an important step towards improved resolvability, and is in line with global guidance defined by the Financial Stability Board.

Bär & Karrer Advises Huntsman Corporation on All-stock Merger of Equals with Clariant

On 22 May 2017, SIX Swiss Exchange (SIX) listed Clariant AG and Huntsman Corporation, which is listed on the New York Stock Exchange (NYSE), announced that their Boards of Directors approved a definite agreement to combine in a cross-border merger of equals through an all-stock transaction. The combination of both companies will create a leading global specialty chemical company with a combined enterprise value of approximately USD 20 billion at announcement.

Bär & Karrer boosts Tax Practice with new Partner in Geneva

Bär & Karrer announces that Christoph Suter has been elected as partner to lead the tax practice in Geneva as of 1 October 2017.

Bär & Karrer Successful in Large Arbitration Proceeding

Bär & Karrer successfully defends the interests of its long standing client EnBW Energie Baden-Württemberg AG in a CHF 1 billion ad hoc-arbitration proceeding in Zurich instituted by a German entrepreneur four years ago. In its final award, the tribunal dismissed the plaintiff's claim in its entirety and awarded Bär & Karrer's client full compensation for its legal costs.

Bär & Karrer's team led by Matthew Reiter and included Cinzia Catelli, Alain Grieder, Roman Huber and David Liatowitsch.

Bär & Karrer Advises EQT and Kuoni Group on the Combination of Kuoni’s GTA Business with Hotelbeds

Kuoni Travel Holding Ltd, owned by EQT VII, a fund of the private equity group EQT, and the Kuoni and Hugentobler Foundation, has entered into a binding agreement on the sale of its GTD business division (GTA) to Hotelbeds Group, owned by a consortium led by Cinven und Canada Pension Plan Investment Board (CPPIB). The shareholders of Kuoni Group will roll-over a large portion of their participation in GTA into the combined Hotelbeds/GTA business and upon completion, will hold a substantial minority stake in the combined Hotelbeds/GTA business. Completion of the transaction is subject to customary closing conditions, including merger control filings and approvals.

Bär & Karrer Advises Hellman & Friedman and GIC on the Acquisition of Allfunds

On 7 March 2017 Hellman & Friedman and GIC acquired Allfunds Bank, S.A. from Intesa Sanpaolo Group, Santander Group, General Atlantic and Warburg Pincus. Allfunds Bank is a leading financial technology business. The transaction is valued at EUR 1.8 billion and is subject to customary closing conditions.

Bär & Karrer acted as Swiss legal advisor to Hellman & Friedman and GIC. The team included Eric Stupp and Stephanie Walter (all Banking & Insurance). Freshfields acted as lead counsel to Hellman & Friedman and GIC.

Bär & Karrer Advises an Affiliate of Warburg Pincus on the Acquisition of a Stake in Avaloq

Warburg Pincus, a leading global private equity firm, has entered into an agreement to acquire approximately 35% shareholding in the Avaloq Group AG. Avaloq is an internationally leading FinTech company based in Switzerland. With its integrated business process outsourcing services, Avaloq is the only independent provider for the financial industry that does both, developing and operating its own software. Closing of the transaction is expected in the second quarter of 2017.

Bär & Karrer Advises Mitsui on the Acquisition of Chemtrade Aglobis

On 28 February 2017, Mitsui & Co., Ltd. (Mitsui) and Chemtrade Logistics Inc. (Chemtrade) announced an agreement under which Mitsui will acquire the entire stake in Chemtrade Aglobis AG (Aglobis), subsidiary entirely owned by Chemtrade. Aglobis is a leading distributor of sulphur and sulphuric acid in Europe. The transaction is subject to relevant regulatory approvals.

Bär & Karrer Advises Valora on the Acquisition of Pretzel Baron

Bär & Karrer Advises Valora on the Acquisition of Pretzel Baron

Bär & Karrer Advises Alpine Select on Public Share Buy-back

Bär & Karrer Advises Alpine Select on Public Share Buy-back.

On 10 January 2017, Alpine Select Ltd, Zug, invited to an extraordinary shareholders' meeting which will take place on 7 February 2017. At this shareholders' meeting, the shareholders will, among other things, vote on a capital reduction through the cancellation of shares which have been repurchased under a share buy-back program at a fixed price.

Bär & Karrer Advises Tineo on the Acquisition of nexellent

Tineo, a portfolio company of Waterland Private Equity, has acquired nexellent. Both Tineo and nexellent are providers of IT infrastructure and related services. The nexellent management has reinvested into the Tineo group. Bär & Karrer acted as legal advisor to Tineo in this transaction.

Bär & Karrer Advises Blackstone on the Acquisition of the European Distribution Business of CRH plc

Private equity funds managed by Blackstone acquired the European distribution business of CRH plc, a global leading group in the building material industry, from CRH plc for an enterprise value of €1.64 billion.

Bär & Karrer Advised the Sellers of 3 Plus Group

The owners of 3 Plus Group sold the Swiss broadcasting group to CH Media, one of the largest media companies in Switzerland.Bär & Karrer acted as legal advisor to the sellers in this transaction.

Bär & Karrer Advises Banque Cantonale de Genève on the Placement of CHF 135 Million Additional Tie

Banque Cantonale de Genève successfully completed the placement of CHF 135 million perpetual additional tier 1 subordinated bonds. The additional tier 1 subordinated bonds were issued at 100% of their nominal amount with an interest of 1.875%. Banque Cantonale de Genève, UBS AG, Bank Vontobel AG and Bank J. Safra Sarasin acted as Joint Lead Managers.

Bär & Karrer Advised Xonnel on the Sale of Küchler

Xonnel AG sold its timber trading business "Küchler" to Woodpecker Holding AG, a group of leading timber trading companies in Switzerland. Küchler is a heritage brand in the timber trading sector since 1832.

Bär & Karrer Advised Jacobs Holding on the Placement of Barry Callebaut Shares

Jacobs Holding AG successfully placed 550,000 shares (approx. 10%) in Barry Callebaut AG by way of an accelerated bookbuilding process and a simultaneous private placement. Jacobs Holding thus diversified its portfolio while remaining Barry Callebaut's reference shareholder with a stake of approximately 40%. Jacobs Holding is an investment company founded by entrepreneur Klaus J. Jacobs. The only economic beneficiary of Jacobs Holding is the Jacobs Foundation, one of the world's leading charitable foundations for the promotion of development opportunities for children and young people.

Bär & Karrer Advised Verium on the Acquisition of a Significant Minority Stake in DSwiss

A group of investors represented by the multi-family office Verium AG acquired a significant minority stake in DSwiss AG, a provider of highly secure digital services.

Bär & Karrer wins Mergermarket award for Switzerland M&A Legal Adviser of the Year 2019

At the Mergermarket European Awards Ceremony held in London on 4 December 2019, Bär & Karrer was recognized as "Switzerland M&A Legal Adviser of the Year" for the second time in a row.

Bär & Karrer Advises BVK and UI on the Purchase and Financing of a Swiss Real Estate Portfolio

Bayerische Versorgungskammer (BVK), Germany's largest public pension group, acquired, through a fund managed by Universal-Investment (UI), a real estate portfolio comprising of 14 mainly commercial properties in Switzerland, partially financed by a banking syndicate. With this transaction, BVK enters the Swiss real estate market.

Bär & Karrer Advises Capvis on Purchase of Tertianum Group from Swiss Prime Site

Capvis, a leading Swiss investment firm, has agreed to acquire the Tertianum group from Swiss Prime Site AG. Tertianum is a market leader for elderly care and assisted living in Switzerland with over 80 residential and care centres as well as residences distributed throughout Switzerland.

Bär & Karrer Advises Valyo on Innovative Capital Market Platform

Valyo AG, a subsidiary of Raiffeisen Switzerland, has developed an innovative digital platform for issuances of exchange listed bonds geared towards institutional investors. The Valyo platform, intended to be launched in the first quarter of 2020, enables issuers to carry out all steps from the initial registration of a planned issuance through the book building process to closing and listing of the bond issuance in an integrated digital process.

Bär & Karrer Advises Pharmalys Holding Invest on the Purchase of the Majority Interest in the Pharm

Pharmalys Invest Holding AG, which is controlled by Amir Mechria, owned49% of Pharmalys Laboratories SA, Pharmalys Africa Sarl and Pharmalys TunisiaSA and has now purchased the remaining 51% of the shares in these companiesfrom Hochdorf Holding AG.

Bär & Karrer Advises Ardian on the Sale of the Competence Call Center Group

Ardian and other sellers agreed to sell the Competence Call Center Group to TELUS International.

Bär & Karrer Advised Polhem Infra on its Investment in Solör Bioenergy

Polhem Infra, a company formed in 2019 by the First, Third and Fourth AP Fund (Swedish National Pension Funds), acquired 21 per cent of the shares in Solör Bioenergi Holding from existing shareholders. Solör Bioenergy is a leading provider of renewable energy based on wood fuel and district heating in Sweden and Norway.

Bär & Karrer Advised DHL on the Sale of its Swiss Supply Chain Business to Fastlog

DHL Logistics (Schweiz) AG sold its Swiss supply chain business to Fastlog AG, a Swiss service and logistics provider.

Bär & Karrer Advises Waters on the Acquisition of Andrew Alliance

Waters Corporation, a leading specialty measurement company, has announced the acquisition of Andrew Alliance, a Switzerland based company specializing in laboratory automation technology.

Bär & Karrer Advised the von Finck Family on the Placement of SGS Shares

The von Finck family successfully placed 960,000 shares (approx. 12.7%) in SGS SA by way of an accelerated bookbuilding process. The overall transaction volume amounts to CHF 2.3 billion. In light of its long-term investment strategy and planning, the family decided to divest a majority of its stake in SGS.

Bär & Karrer Advises Migros-Genossenschafts-Bund on the Sale of Globus

Migros-Genossenschafts-Bund (MGB) sold Magazine zum Globus AG along with eight associated real estate properties to a joint venture of SIGNA and CENTRAL Group. SIGNA and CENTRAL jointly own Germany’s KaDeWe Group and CENTRAL Group currently owns Italy’s Rinascente and Denmark’s Illum, all leading luxury department stores in Europe. The transaction is subject to approval by the competent merger control authorities.

Bär & Karrer Advises la Mobilière on the Acquisition of a 25% Stake in Ringier

La Mobilière acquires a stake of 25% of the shares in Ringier AG. The share purchase is to be completed in the first half of 2020.

Bär & Karrer Advised Open Systems on the purchase of Sqooba

EQT portfolio company Open Systems AG, a secure access service edge (SASE) pioneer, has acquired Sqooba (Schweiz) AG from its founders. Sqooba is a Swiss-based leader in big data analytics.