Niederer Kraft Frey acted as legal counsel to Swiss Steel Holding AG in the capital increase and all related proceedings before the courts, FINMA and the Swiss Takeover Board. Walder Wyss Ltd. acted as counsel to the Lead Managers.
Following the successful completion of the CHF 247 million capital increase of Swiss Steel Holding AG the newly issued shares started trading on SIX Swiss Exchange.
Credit Suisse AG and UBS AG acted as Joint Global Coordinators and Joint Bookrunners in the rights offering.
This completes a contested and publicised process in which Swiss Steel Holding’s second largest shareholder Liwet Holding AG had initiated court proceedings and filed an application seeking to block the capital increase.
By decision of 29 January 2021, the district court of Lucerne rejected Liwet Holding AG’s respective request. Liwet Holding AG also filed applications with the Swiss Financial Market Supervisory Authority FINMA and the Swiss Takeover Board, which were rejected by FINMA and the Swiss Takeover Board on 27 January 2021 and 5 March 2021, respectively. An appeal by Liwet Holding AG to FINMA against the Swiss Takeover Board’s decision of 5 March 2021 remains pending.
The Swiss Steel Group is currently one of the world’s leading providers of customised solutions in the field of special long steel products. It is also one of the leading manufacturers in the global market for both tool steel and stainless long steel and is one of the two largest companies in Europe for alloyed and high-alloy engineering steel. With nearly 10,000 employees at its own production and distribution companies in over 30 countries across five continents, the Swiss Steel Group supports and supplies its customers around the globe and offers them a full worldwide portfolio from Production and Sales & Services.
The NKF team was led by Philippe Weber (Picture) and further comprised Thomas Brönnimann, Christina Del Vecchio, Andrea Rüttimann, Roman Sturzenegger, Samuel Hochstrasser, Dominique Sunitsch, Dominik Penkov, Lukas Beeler, Anja Vogt, Alexis Brunner, Markus Kronauer and Valerie Meyer Bahar.
The Walder Wyss team was led by Theodor Härtsch and also included Alex Nikitine, Alexander Eichhorn, Dimitrios Berger, Etienne Trandafir, Edi Bollinger, Anaëlle Genoud and Janine Corti.
Involved fees earner: Lukas Beeler – Niederer Kraft Frey Ltd; Thomas Brönnimann – Niederer Kraft Frey Ltd; Alexis Brunner – Niederer Kraft Frey Ltd; Christina Del Vecchio – Niederer Kraft Frey Ltd; Samuel Hochstrasser – Niederer Kraft Frey Ltd; Markus Kronauer – Niederer Kraft Frey Ltd; Valerie Meyer-Bahar – Niederer Kraft Frey Ltd; Dominik Penkov – Niederer Kraft Frey Ltd; Andrea Rüttimann – Niederer Kraft Frey Ltd; Roman Sturzenegger – Niederer Kraft Frey Ltd; Dominique Sunitsch – Niederer Kraft Frey Ltd; Anja Vogt – Niederer Kraft Frey Ltd; Philippe Weber – Niederer Kraft Frey Ltd; Edi Bollinger – Walder Wyss Ltd.; Janine Corti – Walder Wyss Ltd.; Dimitrios Berger – Walder Wyss Ltd.; Alexander Eichhorn – Walder Wyss Ltd.; Anaëlle Genoud – Walder Wyss Ltd.; Theodor Härtsch – Walder Wyss Ltd.; Alex Nikitine – Walder Wyss Ltd.; Etienne Trandafir – Walder Wyss Ltd.;