Ringier’s Joint Venture With TX Group, La Mobilière And General Atlantic

Pestalozzi advised Ringier on the deal. Walder Wyss AG acted as legal counsel to TX Group AG. Bär & Karrer acts as legal advisor to La Mobilière in this transaction. Milbank represented General Atlantic.

TX Group, Ringier, La Mobilière and General Atlantic announced the formation of a joint venture to create leading digital marketplace group.

The merger of TX Markets and Scout24 Schweiz’s online marketplaces will form a leading Swiss group spanning the real estate, vehicle, financial services and general marketplace sectors. The joint venture will create one of the largest digital companies in Switzerland. All involved parties will hold minority interests in the joint venture. The independent group will pursue the medium-term goal of going public.

The new joint venture will also combine the expertise of the existing teams and digital talent to drive the development of innovative digital products and services. This, in turn, will enable the company to better meet user and customer needs. The joint venture will also make a substantial contribution to further digitalisation in Switzerland.

TX Group AG will hold a 31% interest in the new joint venture; Ringier AG and La Mobilière will each hold a 29.5% share, and growth equity investor General Atlantic will have a 10% interest. The four shareholders will each have 25% of voting rights.

TX Group forms a network of digital platforms that offer users information, orientation, entertainment and services for everyday needs.

Ringier AG is an innovative, digitalised and diversified Swiss media company operating in Europe, Asia and Africa. Its portfolio includes over 110 subsidiaries in the print, digital media, radio, ticketing, entertainment and e-commerce sectors and leading online marketplaces for cars, property and jobs.

Established as a cooperative in 1826, La Mobilière is the oldest private insurance company in Switzerland.

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history.

The Pestalozzi team included Christoph Lang (Picture – Partner – Corporate / M&A / Competition & Trade), Christian Roos (Partner – Employment), Florian Schnyder (Associate – Corporate / M&A), Severin Etzensperger (Associate – Competition), Mercedes Chiabotti (Associate – Corporate / M&A), Lukas Breu (Junior Associate – Corporate / M&A), Manuela Morel (Paralegal – Corporate Services).

The Walder Wyss team as been co-led by Markus Vischer (Partner, Corporate/M&A) and Urs P. Gnos (Partner, Corporate/M&A) and further included Lukas Wyss (Partner, Finance), Reto Jacobs (Partner, Competition), Monique Sturny (Partner, Competition), Dimitrios Berger (Senior Associate, Corporate / M&A), Dzevrije Zendeli (Senior Associate, Corporate /M&A), Christoph Stutz (Counsel, Employment), Claudia Weber (Senior Asscociate, Corporate /M&A), Timon Nydegger (Associate, Corporate /M&A), Alice Vorburger (Associate, Corporate /M&A), Riccardo Brazerol (Associate, Corporate /M&A), Chiara Wirz (Associate, Emplyoment), Hugh Reeves (Senior Associate, RCTI) und Aurélien Bill (Associate, RCTI).

The Bär & Karrer team included Christoph Neeracher, Luca Jagmetti, Thomas Rohde, Raphael Annasohn, Benjamin Grunwald and Dominique Nguyen (all M&A), Susanne Schreiber and Angelica Schwarz (both Tax), Michael Trippel (Corporate), Mani Reinert (Competition Law), Daniel Flühmann (Regulatory), Jonas Bornhauser (IP/IT), Laura Widmer (Employment), Rocco Rigozzi (Real Estate) as well as Rehana Harasgama (Data Protection).

The Milbank team was led by partners Sebastian Heim and Norbert Rieger (both Corporate/M&A) and included partners Matthias Schell (Tax), Alexander Rinne (Antitrust), Barbara Mayer-Trautmann (Finance) as well as associates Mahmood Kawany (Corporate/M&A), Stefanie Gschossmann (Antitrust), Alexander Lang (Finance, all Munich) and Andreas Rief (Corporate/M&A, Frankfurt).

Involved fees earner: Raphael Annasohn – Bär & Karrer; Jonas Bornhauser – Bär & Karrer; Daniel Flühmann – Bär & Karrer; Benjamin Grunwald – Bär & Karrer; Rehana Harasgama – Bär & Karrer; Luca Jagmetti – Bär & Karrer; Christoph Neeracher – Bär & Karrer; Dominique Nguyen – Bär & Karrer; Mani Reinert – Bär & Karrer; Rocco Rigozzi – Bär & Karrer; Thomas Rohde – Bär & Karrer; Susanne Schreiber – Bär & Karrer; Angelica Schwarz – Bär & Karrer; Michael Trippel – Bär & Karrer; Laura Widmer – Bär & Karrer; Stefanie Gschoßmann – Milbank LLP; Sebastian Heim – Milbank LLP; Mahmood Kawany – Milbank LLP; Alexander Lang – Milbank LLP; Barbara Mayer-Trautmann – Milbank LLP; Andreas Rief – Milbank LLP; Norbert Rieger – Milbank LLP; Alexander Rinne – Milbank LLP; Matthias Schell – Milbank LLP; Lukas Breu – Pestalozzi; Mercedes Chiabotti – Pestalozzi; Severin Etzensperger – Pestalozzi; Christoph Lang – Pestalozzi; Christian Roos – Pestalozzi; Florian Schnyder – Pestalozzi; Aurélien Bill – Walder Wyss Ltd.; Riccardo Brazerol – Walder Wyss Ltd.; Dimitrios Berger – Walder Wyss Ltd.; Urs Gnos – Walder Wyss Ltd.; Reto Jacobs – Walder Wyss Ltd.; Timon Nydegger – Walder Wyss Ltd.; Hugh Reeves – Walder Wyss Ltd.; Monique Sturny – Walder Wyss Ltd.; Christoph Stutz – Walder Wyss Ltd.; Markus Vischer – Walder Wyss Ltd.; Alice Vorburger – Walder Wyss Ltd.; Claudia Weber – Walder Wyss Ltd.; Chiara Wirz – Walder Wyss Ltd.; Lukas Wyss – Walder Wyss Ltd.; Dzevrije Zendeli – Walder Wyss Ltd.;

Law Firms: Bär & Karrer; Milbank LLP; Pestalozzi; Walder Wyss Ltd.;

Clients: General Atlantic; La Mobilière; Ringier AG; TX Group AG;

Federica Tiefenthaler

Author: Federica Tiefenthaler