Leading global law firm, Baker McKenzie, has advised Swiss construction services company Implenia in developing and entering into a series of contractual arrangements with Ina Invest AG, a real estate investment company that has been spun-off from Implenia and listed on the Swiss Stock Exchange. Ina Invest holds a substantial part of real estate development projects that were formerly owned by Implenia.
The real estate spin-off shares, which are listed on the Swiss stock exchange, are issued at CHF 22.42 each. Implenia's shareholders had subscribed to 59 percent of the approximately 5.17 million shares issued as part of a capital increase. Around 3.69 million shares had been distributed as a special dividend. The remaining shares were offered to investors in a bookbuilding process.
The contractual arrangements include, among others, a real estate portfolio and asset management agreement, a development framework agreement with project-related individual agreements, total contractor construction agreements and project-related sales agreements.
Baker McKenzie's Zurich based team that completed the contractual setup consisted of Dr. Alexander Wyss, Ramon Tissafi and Bettina Klein.