IFLR 1000
The Guide to the World's Leading Financial Law Firms

Founded in 1957, Homburger's history props up its foremost position in Switzerland. This Zurich based firm is well established and is highly reputable in the Swiss market. The stable nature of the legal market in Switzerland has familiarised the top end firms with each other. "Homburger is in the same league. We always see them on transactions," says one partner, with another adding in regard to banking and finance: "we represent the banks and they represent the borrowers."

The firm has had yet another strong year and its tendency to attract some of the market's leading instructions is unlikely to dry up anytime soon. It advised key client Credit Suisse in its establishment of a €15 billion covered bond programme including its €1.25 billion initial issue. René Bösch and Daniel Daeniker are two key practitioners that have been drawn out for praise. "In banking and finance, two names come to mind and both are at Homburger, Bösch and Daeniker," one partner says, adding: "These people are top people in banking and finance and are based in Zurich."

The firm's staff turnover in the M&A division has been liquid of late, with a number of associates entering and leaving the firm. Nevertheless, the stature of René Bösch and Daniel Daeniker is such that it percolates into corporate matters. "Homburger's René Bösch and Daniel Daeniker are two that shape the M&A market," one peer says. Dieter Gericke has also been among the notables. "He was quite active but more on the publication side," one partner says.

In M&A, the firm continued to provide advice in the $51.5 billion acquisition of Alcon by Novartis. To this end, it advised Nestlé in the completion of the sale of its remaining stake of approximately 52% in Alcon, the world's largest eye-care company, to Novartis for $28 billion. It also advised Alcon on its $13 billion merger agreement with Novartis.

Homburger's restructuring and insolvency team meanwhile advised Citibank International, as agent for a syndicate of financial institutions, in the SFr 2.5 billion (€2.2 billion) all-inclusive financial restructuring of OC Oerlikon Corporation. This included the refinancing of facilities, capital increase and a debt-to-equity swap.