CMS advised LLB Swiss Investment in relation to an investment in MCH Group
LLB Swiss Investment is the fund management company of AMG Substanzwerte Schweiz Fund, a fund managed by AMG Fondsverwaltung. AMG Substanzwerte Schweiz Fund is invested, inter alia, in MCH Group , listed at the SIX Swiss Exchange.
On 19 December 2020, MCH Group announced the completion of a subscription rights issue for the second tranche of two capital increases, approved by an extraordinary general meeting of shareholders on 27 November 2020. This extraordinary general meeting was convened after a settlement agreement was concluded on 26 October 2020, inter alia, between LLB Swiss Investment, AMG Fondsverwaltung, MCH Group, Lupa Systems and the Canton of Basel-Stadt. The settlement agreement was the consequence of legal proceedings initiated by LLB Swiss Investment against the resolutions of a first extraordinary general meeting of MCH Group held on 3 August 2020. The legal proceedings involved inter alia a successful objection against an opting up introduced at such extraordinary general meeting in front of the Swiss takeover board (TOB) (decision 765/02 of 20 August 2020). The decision of the TOB was confirmed by the Takeover and State Liability Committee of the Swiss Financial Market Supervisory Authority (FINMA) (decision of 16 October 2020).