Sale of Montres Corum to China Haidian

On July 9, 2013, the selling shareholders of Montres Corum Sàrl successfully completed the sale of Montres Corum Sàrl, the Swiss producer of luxury watches under the "Corum" brand, to a subsidiary of China Haidian Holdings Limited, a Hong Kong Stock Exchange listed manufacturer and distributor of watches, for cash and share consideration of approximately CHF 86 million (including assumed debt and subject to adjustments).

Lenz & Staehelin advised the selling shareholders of Montres Corum Sàrl in this transaction. The team included Matthias Wolf (Partner, lead), Christoph Reinhardt (Counsel), Veronika Lierau and Daniel Adler (both Corporate).