Lenz & Staehelin advises Swiss Prime Site on the sale of Wincasa
Swiss Prime Site signed an agreement to sell its Wincasa group company, its real-estate services business, to Implenia for an enterprise value of CHF 235 million. Subject to regulatory approval, the transaction is expected to close in the second quarter and the economic interest will be transferred retrospectively as of January 1, 2023.
The Swiss real-estate company said it will receive 181.6 million Swiss francs ($197.7 million) in cash, including an intra-group dividend payment for 2022. Implenia, a real-estate firm that also offers construction and engineering services, said separately that the purchase price is CHF171.6 million.Swiss Prime Site plans to use the proceeds to reduce its financial liabilities and thus further strengthen its balance sheet.
Lenz & Staehelin is acting as legal advisor to Swiss Prime Site in this transaction. The team is led by partner Stephan Erni (pictured) and includes Norman Walczak, Nick Mezger, Louis Probst and Alina Kuster (all corporate and m&a), Stephan Brandner and Lukas Aebi (both tax), Astrid Waser (competition) as well as Elena Nauer (employment).
