23 December 2015 I Deals and Cases

Bär & Karrer advises Orascom on Capital Increase by way of Rights Offering

On 17 December 2015, Orascom Development Holding AG completed a capital increase by approximately CHF 133.8 million (before deducting transaction fees) by way of a rights offering. The new shares were created by cash, conversion of a loan from the company's major shareholder, Samih O. Sawiris, and by conversion of capital contribution reserves into equity. The offer price was set at CHF 11.28 per share, below the nominal value and at a slight premium to the 30 day Volume Weighted Average Price. Bank am Bellevue AG acted as Lead Manager and CI Capital acted as Co-Lead Manager in this transaction.

Bär & Karrer acted as legal advisor to Orascom. The team included Thomas U. Reutter, Daniel Raun, Daniel Heiniger, Annette Weber, Anouk Hirt and Florian Roth (all Capital Markets) as well as Daniel Lehmann and Andreas Steffen (both Tax).