AFG Arbonia-Forster-Holding AG to acquire Looser Holding AG
On September 15, 2016, AFG Arbonia-Forster-Holding AG (AFG) announced that it had agreed to acquire 100% of the outstanding shares of Looser Holding AG (Looser) by way of a private acquisition of 53% of the Looser shares from a number of individual selling shareholders and a public tender offer for the remainder 47% of the Looser shares. The purchase price, as well as the price offered by AFG under the independent tender offer, consist in CHF 23 in cash and 5.5 AFG shares per Looser share. On the basis of the closing prices as of September 14, 2016, the transaction represents an enterprise value of Looser of approx. CHF 511 million. Closing of the transaction is subject to a number of conditions customary for this type of transaction, and is expected to occur in December 2016.
Lenz & Staehelin is advising the individual selling shareholders in this transaction. The team includes partners Hans-Jakob Diem (Corporate and M&A), Patrick Schleiffer (Capital Markets), Pascal Hinny (Tax) as well as associates Simone Ehrsam (Corporate and M&A) and Patrick Schärli (Capital Markets).