25 September 2013 I Deals and Cases

USI Group Holdings AG Completes Reverse Acquisition Transaction to Become the First Swiss Listed Issuer with an India Focused Business

USI Group Holdings AG ("USI"), a Swiss-listed real estate company, has completed its acquisition of Goldlink United Ltd, the parent company of a group holding assets and conducting business in India and Singapore, against USI shares issued in a significant increase of its share capital. The acquired assets, valued at the equivalent of CHF 224.83 million, include real estate development rights in Tamilnadu, India, and a wholesale gold bullion and jewellery trading business based in Singapore with focus on the Indian market. Post-acquisition, the sellers of Goldlink hold approximately 72.9% of USI's shares. The newly issued shares were listed and admitted to trading on the SIX Swiss Exchange as of 18 September 2013. With the transaction, USI has been transformed from a real estate company focused on Europe into a real estate, infrastructure and trading group with operations principally focused on India. As a consequence, the regulatory standard under which USI's shares are listed has changed from the Standard for Real Estate Companies to the Main Standard.
Bär & Karrer advised USI as to Swiss law. The Bär & Karrer team included Roland Truffer, Thomas Reutter, Sibil Melliger, Daniel Raun and Livio Bundi.