Homburger advises Liberty Global in the sale of UPC Switzerland to Sunrise
On February 27, 2019, Liberty Global plc (Liberty Global) (NASDAQ: LBTYA, LBTYB AND LBTYK) announced that it has reached a binding agreement to sell its Swiss operation, UPC Switzerland, to Sunrise Communications Group AG (Sunrise) (SIX: SRCG). At December 31, 2018, UPC Switzerland’s network passed 2.3 m homes and served 1.1 m customers. Liberty Global will sell UPC Switzerland for a total enterprise value of CHF 6.3 bn. Sunrise will acquire the business inclusive of indebtedness and other debt items with an aggregate value of approximately CHF 3.7 bn at December 31, 2018. Closing of the transaction is subject to regulatory approval and approval by Sunrise’s shareholders with respect to an associated capital increase.
Homburger AG has advised Liberty Global on the transaction. The Homburger team is led by partners Daniel Daeniker and Daniel Hasler (Corporate / M&A) and comprises Richard Stäuber and Franz Hoffet (Competition / Regulatory), associate Daniel Häusermann (Corporate / M&A), as well as Stefan Oesterhelt and Marc Vogelsang (Tax), associates Micha Fankhauser, Lorenzo Togni, Olivier Bühlmann and Mirko Stiefel (all Corporate / M&A), Luca Dal Molin and Carola Winzeler (IP / IT), Irène Suter-Sieber and Michael Kottmann (Litigation), as well as junior associates Marius Meier (Corporate / M&A) and Michèle Reinhardt (Competition / Regulatory).