Category Archives: News, Deals & Cases

Swiss Steel Holding successfully completes contested CHF 247 million capital increase

Following the successful completion of the CHF 247 million capital increase of Swiss Steel Holding AG the newly issued shares started trading on SIX Swiss Exchange on 23 March 2021. This completed a contested and publicized process in which Swiss Steel Holding’s second largest shareholder Liwet Holding AG had initiated court proceedings and filed an application seeking to block the capital increase. By decision of 29 January 2021, the district court of Lucerne rejected Liwet Holding AG’s respective request. Liwet Holding AG also filed applications with the Swiss Financial Market Supervisory Authority FINMA and the Swiss Takeover Board, which were rejected by FINMA and the Swiss Takeover Board on 27 January 2021 and 5 March 2021, respectively. An appeal by Liwet Holding AG to FINMA against the Swiss Takeover Board’s decision of 5 March 2021 remains pending.

ARYZTA AG announced the disposal of its North American business to Lindsay Goldberg LLC

On 12 March 2021, ARYZTA AG (SWX: ARYN) announced that it has signed a definitive agreement to sell its North American business to Lindsay Goldberg LLC for a total enterprise value of USD 850 million. The transaction is expected to complete by the end of ARYZTA’s current 2021 financial year and is subject to closing conditions customary for this type of transaction.

Cicor with a new major shareholder

3 March 2021 – Cicor, a leading international technology company in the fields of printed circuit boards and hybrid circuits, printed electronics, microelectronics as well as EMS (Electronic Manufacturing Services), based in Boudry (Switzerland), has been informed that HEB Swiss Investment AG, Zurich, has sold all of its shares in Cicor Technologies Ltd. in a binding transaction to an investment vehicle of One Equity Partners (OEP). One Equity Partners (OEP) is a middle market private equity firm with over $8 billion in assets under management focused on transformative combinations within the industrial, healthcare and technology sectors in North America and Europe.

Credit Suisse Group AG issues USD 2 billion of bail-inable notes

On 26 January 2021, Credit Suisse Group AG launched, and on February 2, 2021, suc-cessfully completed, the issuance of USD 2 billion 1.305% Fixed Rate/Floating Rate Senior Callable Notes due 2027 (the Notes) under its U.S. Senior Debt Program. The Notes are bail-inable bonds that are eligible to count towards Credit Suisse’s Swiss gone concern re-quirement.

The Carlyle Group to acquire the Acrotec Group

On 7 December 2020, the global investment firm The Carlyle Group announced that it has agreed to acquire the Acrotec Group, in partnership with its management team, from Castik Capital. The transaction is subject to regulatory approvals and is expected to close in Q1 2021. The Acrotec Group is a leading independent supplier of high precision industrial applications to the watchmaking and MedTech industries as well as other high value industrial end markets, such as Automotive, Electronics and Aerospace. The Acrotec Group employs approximately 1,200 people across 18 locations and exports to over 40 countries. Leveraging Carlyle’s global Healthcare expertise and network, the partnership will seek to broaden Acrotec’s MedTech business with expansion into new services and geographies in Europe and in the United States.

FE fundinfo acquired CSSP

On 7 January 2021, FE fundinfo, a leading fund data and technology provider, announced that it expanded its environmental, social and governance (ESG) capabilities with the acquisition of the Liechtenstein based Center for Social and Sustainable Products AG (CSSP). FE fundinfo acquired all of CSSP’s share capital, including its platform which provides ESG screening and labels on thousands of funds.

Credit Suisse Group AG Issuance of EUR 3 billion bail-inable notes

On 11 January 2021, Credit Suisse Group AG launched, and on 18 January 2021, successfully completed, the issuance of (i) EUR 1.5 billion aggregate principal amount of Floating Rate Senior Callable Notes due January 2026 and (ii) EUR 1.5 billion aggregate principal amount of 0.625 per cent. Fixed Rate Senior Callable Notes due 2033 under its Medium Term Note Programme. The respective notes are bail-inable bonds that are eligible to count towards Credit Suisse’s Swiss gone concern requirement.

Strateo sells and transfers its online trading business and client base to Saxo Bank Switzerland

In January 2021, Strateo, the Swiss branch of Arkéa Direct Bank, has signed an agreement to sell and transfer its online trading business and client base in Switzerland to Saxo Bank Switzerland. The transaction and migration of the clients and their assets are expected to be completed by the end of the first quarter of 2021.

EFG International successfully issues USD 400m inaugural AT1 bonds and repurchases outstanding Tier 2 bonds

On 25 January 2021, Swiss global private banking group EFG International successfully issued USD 400 million inaugural perpetual Additional Tier 1 bonds. The AT1 bonds, which were issued at par, carry a coupon of 5.5 per cent. for the first seven years, after which a redemption option can be exercised. The AT1 bonds are listed on SIX Swiss Exchange. After a short book-building process the order book exceeded USD 4.7 billion.

IPO of NLS Pharmaceutics with a listing on Nasdaq

On 28 January 2021 NLS Pharmaceutics Ltd. priced its USD 20m IPO of 4,819,277 units with each unit consisting of one common share and one warrant to purchase one common share which are immediately separable from the units and issued separately. The common shares and the warrants have been approved for listing on the Nasdaq Capital Market under the symbols “NLSP” and “NLSPW”, respectively, and trading began on 29 January 2021. The offering closed on 2 February 2021. Headquarted in Stans, Switzerland, NLS Pharmaceutics Ltd. is a clinical-stage pharmaceutical company focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders.