WINNER - SWITZERLAND
DEAL: Raiffeisen Switzerland Cooperative (Raiffeisen Schweiz Genossenschaft) acquires Notenstein Privatbank AG
NAME: Dr Beat M Barthold COMPANY: Froriep Renggli POSITION: Partner ADDRESS: Bellerivestrasse 201, CH-8023 Zurich TEL: +41 44 386 60 00 FAX: +41 44 383 60 50 EMAIL:
bbarthold@froriep.ch
BIO:
Dr Beat M. Barthold is partner of the international Swiss law firm Froriep Renggli and co-heads the M&A practice group of the firm. His main area of work is M&A transactions, i.e. private and public M&A (incl. buy and sell-side acquisitions, mergers, demergers, joint ventures, LBO, MBO, MBI), and banking/finance (incl. corporate finance, private equity and debt finance, acquisition finance, mezzanine/ structured finance). Other areas include hybrid financial instruments (mezzanine), corporate/ contract law and capital market transactions. Dr Barthold regularly publishes articles and holds speeches at various national and international conferences on topics of his practice areas. For many years, Dr Barthold has been nominated as a recommended specialist in his fields by peers and clients.
The Froriep Renggli team was led by
partner Dr. Beat M. Barthold (M&A and
Banking), who had the overall project lead and the lead on the M&A and banking aspects of the transaction.
DEAL OVERVIEW: Q
Please summarise the transaction
Raiffeisen Switzerland Cooperative acquired the Swiss private bank Notenstein Privatbank AG, St. Gallen, which had previously acquired the non-US-business of the oldest Swiss private bank Wegelin & Co., St. Gallen from the partners of Wegelin & Co. The Froriep Renggli team was led by partner Dr. Beat M. Barthold (M&A and Banking), who had the overall project lead and the lead on the M&A and banking aspects of the transaction. The team included partners Dr. Alessandro L. Celli (Competition), Dr. Catrina Luchsinger Gähwiler (Banking and Regulatory) and Danielle Wenger (Tax), and associates Benjamin Dürig and Philippe Stuber (both Corporate).
Q Q Q
What was your role within the transaction
Dr Beat M Barthold (M&A and Banking) was the lead partner who had the overall project lead and the lead on the M&A and banking aspects of the transaction.
What were the challenges or difficulties presented
The transaction had to be structured, agreed and executed in a very short period of time. Further challenges were regulatory matters and international tax aspects related to the selling parties.
How were the challenges or difficulties overcome
Working closely with well experienced Q
specialists in regulatory and tax laws from Switzerland and abroad.
What other types of clients or transactions have you been involved with
Raiffeisen Switzerland Cooperative was second best bidder for the acquisition of all shares of Bank Sarasin & Co. which was ultimately acquired by Bank Safra.
On 15 March 2012, Aduno Group through its affiliate Cashgate Ltd. acquired all shares of Revi-Leasing und Finanz AG from Valiant Holding AG. Revi-Leasing und Finanz AG is a major player in the area of consumer finance and financial leasing. The Aduno Group was advised by Froriep Renggli as transaction counsel, its long standing external legal adviser. The Froriep Renggli team was led by partner Dr. Beat M. Barthold who had the overall project lead of the transaction.
Q
What are your thoughts and predictions for 2013 and beyond
Still a difficult economic environment both in Switzerland and abroad which keeps the pressure on the international and global players of various industries, in particular financial markets. Nevertheless, we see both domestic and international M&A deals being prepared and expect such deals being carried out, however, in terms of number and size on lower levels as in the past years, possibly comparable to 2012.
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