19 November 2018 I Deals and Cases

Bär & Karrer Advises the Banking Syndicate in the Rights Offering of ARYZTA

On 19 November 2018, ARYZTA, a global food business with a leadership position in speciality bakery, completed a capital increase by way of a rights offering structured as a volume underwriting in the amount of approximately CHF 900 million. 97.4% of the shareholders of ARYZTA exercised their subscription rights in the rights offering. The new shares not subscribed were placed in the market.

The banking syndicate comprised BofA Merrill Lynch and UBS as Process Banks and Joint Global Coordinators, Credit Suisse, JP Morgan and HSBC Bank plc as additional Joint Global Coordinators and Crédit Agricole CIB, Mizuho International plc and Rabobank as Joint Bookrunners.

Bär & Karrer acted as legal adviser to the syndicate banks in this transaction. The team included Thomas U. Reutter, Michael Trippel, Alexander von Jeinsen, Annette Weber, Carlo Hunter and Manuela Cassano (all Capital Markets), Dieter Dubs (Listed Companies/Takeover Law) as well as Susanne Schreiber and Lukas Scherer (both Tax).