Merger of Starrag and Tornos
Lenz & Staehelin is advising Starrag Group Holding AG and Tornos Holding AG on their merger. The two traditional Swiss precision machine tool manufacturers Starrag and Tornos, both listed at the SIX Swiss Exchange, announced on October 26, 2023 that they entered into a merger agreement. Under the terms of the merger, Tornos will be absorbed by Starrag and the Tornos shares will be exchanged into new listed Starrag shares for which Starrag will increase its share capital. The combined group will have a worldwide geographical presence and will operate under the name StarragTornos Group. Closing is expected to take place in December 2023, subject to approval of the shareholders' meetings of both parties.
The Lenz & Staehelin team is led by Matthias Wolf (Corporate/M&A) and Patrick Schärli (Capital Markets) and includes Rebecca Khan, Nicolas Lehmann, and Jérémie Bongiovanni (all Corporate/M&A), Patrick Sattler and Kaan Saritas (Capital Markets), Franziska Stadtherr, Stephan Brandner and Lukas Aebi (Tax), Astrid Waser and Sandro Travaglini (Competition and FDI), Matthias Oertle and Anja Affolter (Employment), and Cécile Moser (Real Estate).