Sunrise Communications Group with new significant shareholder
On March 17, 2016, freenet AG, the largest network-independent supplier of mobile communications in Germany, announced that it had entered into definitive agreements to acquire 23.83% of the shares of Sunrise Communications Group AG from funds advised by CVC Capital Partners for a purchase price of CHF 72.95 per share, equaling CHF 782 million in total, with the option to acquire an additional of 0.73% of the Sunrise shares. The CEO and the CFO of freenet will be invited to join the Board of Directors of Sunrise.
Lenz & Staehelin is advising Sunrise Communications Group AG in this transaction. The team includes Partners Hans-Jakob Diem (Corporate, Lead), Marcel Meinhardt (Antitrust, Regulatory) and Patrick Schleiffer (Corporate, ECM), and Associates Mario Strebel (Antitrust, Regulatory) and Andreas Hinsen (Corporate).