Homburger advises UBS AG in connection with the repurchasing by Sika AG of registered shares for a price of CHF 2.08 bn and the launch of CHF 1.65 bn convertible bonds due 2025
On May 11, 2018, Sika AG announced that it had signed agreements with the Burkard family and Saint-Gobain to terminate and resolve their dispute to the common benefit of all parties involved and that of their respective shareholders and stakeholders. Among other things, Sika purchased from Saint-Gobain and Schenker-Winkler Holding AG (SWH) a 6.97% stake in its own shares for a total consideration of CHF 2.08 bn. On May 15, Sika announced the launch of an offering of CHF 1.65 bn senior convertible bonds due 2025.
The CHF 2.08 bn purchase price was financed by a bridge loan facility provided by UBS AG, who also acted as lead arranger for the CHF 1.65bn convertible bonds of Sika.
UBS AG was advised on this transaction as to Swiss law by Homburger AG. The team was led by partners Daniel Daeniker and David Oser (both Corporate / M&A) and comprised partner Jürg Frick and associate Stefan Bindschedler (both Banking and Finance) for the bridge loan, and partners René Bösch and Benjamin Leisinger (both Banking and Finance) as well as partner Stefan Oesterhelt (Tax), counsel Eduard De Zordi and associate Andreas Josuran (both Banking and Finance) for the convertible bonds.