Deals & Cases | 11 Apr 2017

Froriep advised BFW Liegenschaften AG (SIX: BLIN) on public share buy-back

On 9 March 2017, SIX Swiss Exchange listed BFW Liegenschaften AG announced a share buy-back program at a fixed price related to a maximum of 519’125 listed registered class A shares, corresponding to a maximum of 10% of BFW Liegenschaften AG’s issued share capital. As per 22 March 2017, each listed registered class A share was assigned one put-option respectively each non-listed class B share was assigned 0.1 put-option free of charge whereby 10 put-options entitled the holder to tender one listed class A share in the share buy-back program. The execution of the put-options took place on 6 April 2017. A total of 514’492 listed registered class A shares have been tendered, corresponding to 9.91% of the issued share capital with an equivalent value of CHF 24.18 million. The shares repurchased under the share buy-back program shall be cancelled by way of a share capital reduction to be resolved at the latest by the shareholders’ meeting 2018.

FRORIEP acted as BFW Liegenschaften AG’s legal counsel in connection with the public share buy-back program. The team consisted of partner Dr. Catrina Luchsinger Gähwiler and senior associate Dr. Mark Montanari (both Capital Markets).

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