Among the large Swiss law firms, Bär & Karrer is the only one with offices in the German, French and Italian speaking parts of the country. The firm's dominance in most spheres of law is testament to commentator's reluctance to challenge its status....
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Among the large Swiss law firms, Bär & Karrer is the only one with offices in the German, French and Italian speaking parts of the country. The firm's dominance in most spheres of law is testament to commentator's reluctance to challenge its status. "They should always be in the first tier," one peer said with regard to its banking and finance practice. Across the board, the firm continues to attract the market's leading mandates. Indeed, it may have even increased the portion relative to its own pre-eminence. "Bär & Karrer have had more transactions this year than last year," one partner says.
In banking and finance, the firm advised Orior, a Swiss fresh food company, in Switzerland's first initial public offering (IPO) after the onset of the financial crisis. The SFr284 million (€249 million) first initial offering since May 2008 was listed on the SIX Swiss Exchange.
Several of the firm's partners are members of the boards of directors of banks and securities dealers in Switzerland. Eric Stupp, the head of the firm's banking & finance arm, is vice-chairman of the board of directors of Goldman Sachs.
The firm's strength in M&A has been reinforced by the notable hires of partners Raoul Stocker from Ernst & Young and Daniel Bader from Homburger. Head of the M&A department, Rolf Watter, has been the subject of much praise. "Rolf Watter of Bär & Karrer has a good reputation. He is involved in every major M&A transaction," one peer says. "Rolf Watter of Bär & Karrer is always involved in transactions," another competitor adds.
Closing in April 2011, the firm continued to advise in the $51.5 billion acquisition of Alcon, a global leader in eye care, by Novartis, a listed pharmaceutical company. Further to purchasing approximately 77% of Alcon's shares from Nestlé in two steps, Novartis recently completed the process of acquiring the remaining minority held shares by way of a Swiss merger. The firm advised Novartis with regard to structuring the acquisition and in negotiations with Nestlé, Alcon, its independent committee of board members, and minority shareholders. It is one of the biggest deals in Swiss history.
In restructuring and insolvency matters, Bär & Karrer certainly has the capacity. The firm showed this in Switzerland's most prominent restructuring deal when it advised Renova, the largest shareholder in OC Oerlikon Corporation. Oerlikon reached agreement with its largest shareholder Renova (holding a 45% equity stake), the lenders of the SFr2.5 billion (€2.2 billion) syndicated loan facilities, and various hedge-funds and other creditors from all over the world on a comprehensive financial restructuring of Oerlikon.
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