Schellenberg Wittmer advises Bank Linth on its public tender offer

On 27 January 2022, Liechtensteinische Landesbank (LLB), 74.9%-majority shareholder of Bank Linth LLB, has published the pre-announcement for a public tender offer to acquire all of the outstanding shares of Bank Linth. LLB will offer Bank Linth shareholders the free choice between a partial exchange offer with a cash component or a full cash compensation. 

The board of directors of Bank Linth acting through its independent directors committee supports the tender offer by LLB and has entered into a transaction agreement with LLB on 26 January 2022. Given LLB’s own listing at SIX Swiss Exchange, the planned discontinuation of Bank Linth’s listing shall reduce complexity and increase the focus on client services. The contemplated transaction will also strengthen Bank Linth’s proven standing within the LLB Group with a view to its further strategic development. At the same time Bank Linth’s identity and ties with the region remain untouched. 

Schellenberg Wittmer is acting as legal counsel to Bank Linth and its independent directors committee in this transaction. The team includes partners Lorenzo Olgiati (pictured) and Martin Weber along with associate Daniele Simoniello and trainee lawyer Laura Roth (all corporate/m&a).  

Bär & Karrer is acting as legal advisors to LLB in this transaction. The team consists of partner Dieter Dubs (public m&a/listed companies), partner Peter Hsu and partner Cédric Chapuis (both banking), partner Lukas Roesler (capital markets) and associate Sarah Vettiger (banking/corporate law). 

For further details regarding the deal click here