Deals & Cases

Homburger advised gategroup Holding AG in new investment by Temasek and RRJ Capital

On July 2, 2018, gategroup Holding AG (gategroup), the world’s largest provider of airline catering and retail on board services measured by revenue, announced that Esta Investments Pte. Ltd. (Temasek) and RRJ Capital Master Fund III, L.P. (RRJ Capital) have invested in gategroup through a mandatory exchangeable bond.

Temasek and RRJ Capital have subscribed to a five-year mandatory exchangeable bond that, at maturity in five years’ time or earlier upon the occurrence of certain events, will be exchanged into gategroup shares corresponding to an equity stake of up to 49% of the share capital of gategroup. As part of the transaction, gategroup has agreed for Temasek and RRJ Capital to be represented on its board of directors by one director.

Headquartered in Singapore, Temasek is a global investment company widely recognized as long-term investor with a focus on Asia. RRJ Capital is an investment firm based in Hong Kong and Singapore focusing on private equity investments in China and South-East Asia.

gategroup was advised on this transaction as to Swiss law by Homburger AG. The Homburger team comprised partners Daniel Daeniker and Frank Gerhard (both Corporate / M&A), associate Lorenzo Togni (Corporate / M&A) and junior associate Claude Humbel (Corporate / M&A).