Homburger with Baugarten Cooperative on the acquisition of Friedrich Steinfels Zürich

The Baugarten cooperative formerly known as Sparkasse der Stadt Zürich, a cooperative which, together with the foundation Baugarten, promotes and supports social, cultural and scientific projects and works in Switzerland, predominantly in the canton of Zurich, has acquired all remaining shares in Friedrich Steinfels Zürich.

The main asset of Friedrich Steinfels Zürich is a property known as the Steinfels-Areal, historically a soap factory and today a complex consisting of apartments, restaurants, a cinema and other commercial premises.

Homburger advised the Baugarten cooperative in this transaction with a team led by partner Claude Lambert (corporate /m&a, pictured) and included partner Stefan Oesterhelt (tax) as well as associates Timo Hasler (corporate /m&a), David Borer (financing and investment products) and Laetitia Fracheboud (tax).

The Baugarten cooperative and the Baugarten Foundation it has set up are exclusively non-profit. The Baugarten cooperative is the legal successor to the Sparkasse der Stadt Zürich, which was founded in 1805 and which in turn emerged from the “Hülfsgesellschaft” founded in 1799 in Zurich. Since 1990, the cooperative and the foundation have jointly approved grants totaling CHF 141.39 million.