04 November 2014 I Deals and Cases

Garnero Group Acquisition Company Enters into Agreement to Acquire a Majority Ownership Stake in WISeKey

On 31 October 2014, Garnero Group Acquisition Company, a Special Acquisition Company (SPAC) listed on NASDAQ, announced to enter into definitive agreements with WISeKey SA, an international mobile cybersecurity provider. Under the agreement, Garnero Group Acquisition Company will acquire an minimum ownership interest of around 70% in WISeKey from certain shareholders of WISeKey, but will seek to acquire 100% of the outstanding shares. The transaction is subject to shareholder approval of Garnero Group Acquisition Company, applicable regulatory approvals and other customary closing conditions.
Bär & Karrer acts as Swiss legal advisor to Garnero Group Acquisition Company in this transaction. The team includes Thomas U. Reutter, Daniel Raun, Annette Weber and Rebecca Schori (all Corporate), Raoul Stocker, Michael Abegg (both Tax) as well as Markus Wang and Fabian Wigger (both IP).