Bär & Karrer advises IBM on the Spin-off of Kyndryl in Switzerland 

IBM Switzerland spins-off its managed infrastructure services business to Kyndryl Switzerland in support of the separation of that business globally from IBM to Kyndryl.  

 “The separation of Kyndryl is one of many actions we are taking to sharpen our focus on hybrid cloud and AI, leverage a portfolio clearly focused on technology and consulting, and achieve our growth objectives,” said Arvind Krishna, IBM chairman and chief executive officer. “We look forward to our partnership with Kyndryl as it moves forward as an independent company.” 

 Kyndryl is now trading on the New York Stock Exchange. IBM is retaining 19.9 percent of the shares of Kyndryl common stock, with the intention of exchanging those shares for IBM debt during the 12-month period following the distribution, subject to market considerations.   

Bär & Karrer acted as Swiss legal advisor to IBM in Switzerland. The team was led by partner Ralph Malacrida (pictured) and included associates Faton Aliu, Tim Salz (all m&a and corporate), partner Thomas Stoltz and junior associate Ignaz Müller (both notarial services), partner Corrado Rampini and associate Rocco Rigozzi (both real estate) as well as partner Laura Widmer (Employment).