Walter Fust announces Public Tender Offer for Tornos Holding
On November 25, 2013, Walter Fust published the pre-announcement for a public tender offer for all publicly held shares of Tornos Holding AG, Moutier, Switzerland. The offer price amounts to CHF 4.70 per share, corresponding to an equity value of approximately CHF 93 million. Mr. Fust already owns 33.325% of the issued Tornos Holding shares. With his offer, Mr. Fust intends to consolidate his position as a longstanding anchor shareholder of the company. The transaction is subject to certain conditions. The offer prospectus will be published on November 27, 2013.
Walter Fust is being advised by Lenz & Staehelin in this transaction. The team includes Hans-Jakob Diem, Simone Ehrsam and Stefan Scherrer (all Corporate) as well as Mario Strebel (Antitrust).