Deals & Cases

Homburger advised Sulzer AG on the sale of 5 m Sulzer shares in an accelerated bookbuilding placement

On September 19, 2018, Sulzer AG (Sulzer) announced that it successfully placed 5 m of its treasury shares with domestic and international investors, increasing its free float to 51%. Sulzer had acquired these shares on April 12, 2018 from its former majority shareholder Renova.

The shares were placed in an accelerated bookbuilding placement at a price of CHF 112 per share. Considering the purchase price of CHF 109.13 per share in April 2018, this transaction results in a capital gain of around CHF 15 m.

Homburger acted as lead counsel to Sulzer in this transaction. The Homburger team was led by partner Claude Lambert (Corporate / M&A) and included partners Reto Heuberger and Stefan Oesterhelt (both Tax) as well as associates Andreas Müller and Lorenzo Togni (Corporate / M&A). Kelley Drye & Warren LLP advised Sulzer as to U.S. sanctions aspects.