Corporate / M&A

Regulatory

Competition

IP / IT

Litigation

Financing and Investment Products

Liberty Global

On November 11, 2020, the all-cash public tender offer by UPC Schweiz GmbH (UPC), a subsidiary of Liberty Global plc, for all publicly held shares of Sunrise Communications Group AG (Sunrise) has been settled. UPC has acquired a 98% stake in Sunrise. The transaction values Sunrise’s equity at CHF 5.0 bn.
Homburger AG is advising Liberty Global on the transaction. The Homburger team is led by partners Daniel Daeniker and Daniel Hasler (Corporate / M&amp;A) and includes partners Richard Stäuber, Franz Hoffet (Competition, Regulatory), Stefan Oesterhelt (Tax), Luca Dal Molin (IP / IT) and Roman Baechler (Litigation), counsel Micha Fankhauser (Corporate / M&amp;A), associates Daniel Häusermann, Karin Mattle, Mirko Stiefel and Stefan Luginbühl (all Corporate / M&amp;A), Yves Bianchi, Ramin Gohari and Jonas J. Krull (Competition, Regulatory), David Borer and Pierina Janett-Seiler (Financing and Investment Products), Marc Vogelsang and Raphaël Fellay (both Tax), Kirsten Wesiak-Schmidt (IP / IT), as well as junior associates Cédric Berger, Géraldine Danuser, Daniel Madani (all Corporate / M&amp;A) and Urs Stürmer (Competition, Regulatory).

Homburger advises Liberty Global on successful settlement of public tender offer for Sunrise

Financial Market Regulation

Zurcher Kantonalbank_bw

On September 30, 2020, Zürcher Kantonalbank successfully placed CHF 275 m 1.75% AT1 Write-Down Notes. The notes qualify as both additional tier 1 capital as well as going concern capital under Swiss regulations for systemically relevant banks. This transaction was the first transaction in Switzerland done in reliance on the exemption in the new prospectus regime of the Financial Services Act to have a prospectus that is pre-approved by a Swiss reviewing body. The first day of trading on the SIX Swiss Exchange is expected to be October 15, 2020.
The Homburger team is led by partners Benjamin Leisinger and René Bösch and includes associate David Borer as well as paralegal Ganna Schneuwly (all Banking and Finance).

Homburger advised Zürcher Kantonalbank in the issuance of CHF 275 m 1.75% AT1 Write-Down Notes

Capital Markets

Dufry

On August 19, 2020, Dufry AG (SIX: DUFN) and Hudson Ltd. (NYSE: HUD) announced that they have entered into a definitive agreement pursuant to which Dufry would acquire all the equity interests in Hudson it does not already own for USD 7.70 in cash per share valuing Hudson at an equity value of USD 711 m. Upon completion of the transaction, Hudson will be de-listed from the New York Stock Exchange.
Dufry intends to finance the proposed transaction through an equity capital increase by way of a rights issue upon approval of Dufry&#8217;s shareholders at an extraordinary general meeting. The transaction has been fully underwritten by a bank consortium.
The transaction will be structured as a merger, whereby Hudson will be merged with a wholly owned, Bermuda-incorporated subsidiary of Dufry. The transaction is expected to close in the fourth quarter of 2020, and is subject to the approval by the shareholders meeting of Hudson, successful completion of the rights offering resulting in net proceeds sufficient to finance the transaction, the requisite lender consent under Dufry&#8217;s existing multicurrency term and revolving credit facilities, and other customary closing conditions.
Homburger acts as counsel to Dufry. The Homburger team is being led by partners Frank Gerhard and Andreas Müller and comprised associates Marc Hanslin and Carlo Sulser and junior associates Daniel Madani and Philipp Stiegeler (all Corporate / M&amp;A; Capital Markets), partner Jürg Frick and associates David Borer and Olivier Baum (all Capital Markets), and partners Dieter Grünblatt and Reto Heuberger and associate Marc Vogelsang (all Tax).

Homburger advises Dufry on the planned acquisition of all remaining equity interest in Hudson and the related equity financing

David
Borer

Homburger advises Liberty Global on successful settlement of public tender offer for Sunrise

Homburger advised Zürcher Kantonalbank in the issuance of CHF 275 m 1.75% AT1 Write-Down Notes

Homburger advises Dufry on the planned acquisition of all remaining equity interest in Hudson and the related equity financing

The Rise of Swiss Domestic Covered Bond Programmes

Neuerungen bei der (Re-)Finanzierung von Hypothekarkrediten

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David Borer

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Homburger advises Liberty Global on successful settlement of public tender offer for Sunrise

Homburger advised Zürcher Kantonalbank in the issuance of CHF 275 m 1.75% AT1 Write-Down Notes

Homburger advises Dufry on the planned acquisition of all remaining equity interest in Hudson and the related equity financing

The Rise of Swiss Domestic Covered Bond Programmes

Neuerungen bei der (Re-)Finanzierung von Hypothekarkrediten

Join the Team

David Borer

Career

Languages

Bar Registration

Teams

David
Borer