Recapitalization of SCHMOLZ+BICKENBACH
On January 8, 2020, the SIX-listed steel producer SCHMOLZ+BICKENBACH successfully completed its recapitalization, consisting in a capital reduction and a simultaneous share offering in the gross amount of CHF 325 million. In the context of the transaction, the Swiss entrepreneur Martin Haefner, through his wholly-owned holding company BigPoint, invested approx. CHF 223 million in the rights issue and acquired the 10% interest of the founding family of SCHMOLZ+BICKENBACH for a purchase price of approx. CHF 43 million. As a result, Martin Haefner (through BigPoint) increased its share in SCHMOLZ+BICKENBACH from originally 17.5% to 49.6% of the capital and voting rights of the company, thereby relying on an exemption from the mandatory tender duty granted by the Financial Market Supervisory Authority FINMA.
Lenz & Staehelin advised BigPoint and Martin Haefner in this transaction. The team included Partners Hans-Jakob Diem (Corporate, Lead), Tino Gaberthüel (Corporate) and Dominique Müller (Litigation), Senior Associate Simone Ehrsam (Corporate) as well as Associates Ann Weibel (Corporate) and Flavio Delli Colli (Litigation).