Andermatt Swiss Alps Completes Recapitalization
On 25 June 2013, Andermatt Swiss Alps AG (ASA), the operating company of the new Andermatt Swiss alps tourist resort, completed a capital increase in the amount of CHF 189 million by way of a debt-equity swap and cash contributions by Samih O. Sawiris as well as a debt equity swap by Orascom Development Holding AG (ODH). With this transaction, the capitalisation of ASA has been improved and Samih O. Sawiris became the majority shareholder of ASA holding 51% of its shares whereas ODH now holds a stake of 49% in ASA.
Bär & Karrer acts as legal advisor to Andermatt Swiss Alps AG. The team of Bär & Karrer includes Thomas Reutter, Roland Truffer, Daniel Heiniger and Romina Brogini (all Corporate) as well as Raoul Stocker and Kevin Russi (Tax).