Vontobel announces Public Tender Offer for BB Medtech

On July 7, 2009, Vontobel Beteiligungen AG, a subsidiary of SIX Swiss Exchange listed Vontobel Holding AG, announced a public tender offer for all publicly held shares of BB Medtech AG, Schaffhausen, Switzerland. Vontobel offers one unit class «T» of the Bellevue Funds (Lux) – BB Medtech in exchange for each BB Medtech share. If successful, the offer will enable the BB Medtech shareholders to exchange their interest in BB Medtech, a Swiss investment company, for units of a Luxemburg investment fund which will hold the same investments as BB Medtech. The transaction is subject certain conditions, including an acceptance threshold of 90% of all BB Medtech shares. As of July 3, 2009, the transaction value amounts to approximately CHF 520 million.

Lenz & Staehelin advises Vontobel in this transaction. The team is led by Hans-Jakob Diem and includes Damian Fischer, Hélène Weidmann, Luca Bozzo (all Corporate) and Felix Prümmer (Antitrust). As to German law, Vontobel is being advised by Hengeler Mueller. Slaughter and May advises Vontobel as to English law.

Published: 7 July 2009