13 August 2020 I Deals and Cases

Bär & Karrer Advises freenet in Connection with the Obligation to Sell its 24,42% Interest in Sunrise Communications Group in the Context of the Tender Offer Launched by Liberty Global

On 12 August 2020 Liberty Global plc has published the pre-announcement for its public tender offer to acquire all publicly held shares of Sunrise Communications Group AG. As part of this takeover transaction freenet AG has entered into a Tender Undertaking in which it agreed to tender its entire c. 24.5% interest in Sunrise into the tender offer. Based on the offer price the c. 24.5% interest in Sunrise corresponds to CHF 1,216 billion.

Bär & Karrer acted as Swiss legal advisor to freenet. Partner Dieter Dubs (M&A) advises freenet in this transaction with respect to to Swiss law.