Leading global law firm Baker McKenzie successfully supported IHAG Holding in their acquisition of the Widder Hotel AG, which it will integrate in its brand «The Living CircleAll related properties are acquired by Swiss Life.
As of August 31, 2018, Widder Hotel AG, which owns the hotel and all catering businesses, will be taken over by IHAG Holding in Zurich. IHAG Holding will integrate the renowned 5 star hotel into its «The Living Circle» group and retain the current management and employees. With this transaction, the hotel remains in Swiss hands and will continue its operations taking into consideration the historical importance of the property. The involved parties agreed not to disclose the price of the transaction.
"The hotel and guild house Widder is a deeply rooted establishment in Zurich. Conscious of its excellent quality and respecting its traditions, we will guide the hotel into the future. The Hotel Widder is an ideal addition to our portfolio of boutique hotels, the Castello del Sole in Ascona and the Storchen in Zurich. The technical expertise of the Widder team is a further enrichment for our group", explains Jürg Schmid, Delegate of the Board of Directors of «The Living Circle» Group».
"We are looking back at an intense past 5 months. We are very proud and happy that we could make a contribution to the realization of a local solution for the traditionally rich Widder Hotel", comments Martin Furrer, member of the management team and lawyer at Baker McKenzie, Zurich.
The team of Baker McKenzie under the leadership of Martin Furrer and Samuel Marbacher supported the transaction in all legal and tax related aspects. It included additional specialists in various fields, namely Mario Kumschick, Philippine Dalla Corte, Valeria Knöpfel, Michael Zeller, Philippe Monnier, Selina Many, Fabian Greutert and Zarina Füglister.