Baker McKenzie Switzerland, along with other Baker McKenzie offices, advised Feintool International Holding AG ("Feintool") on its capital increase by approximately CHF 202 million via a rights offering.
The capital increase was approved at the annual general meeting on 28 April 2022. 9,829,684 new registered shares in Feintool were offered at a price of CHF 20.50 to the existing shareholders. The offering was supported through a backstop by Artemis Beteiligungen I AG, the principal shareholder of Feintool. Artemis Beteiligungen I AG has undertaken to exercise all its rights and to subscribe for all other offered shares that were neither subscribed in the rights offering nor sold in placements.
Feintool is an internationally active technology and market leader in fine blanking, forming and electro lamination stamping for processing steel sheets. Founded in 1959 and headquartered in Lyss, Switzerland, the group runs production plants and technology centers in Europe, the US, China and Japan. It has approximately 3,500 employees globally.
Feintool recently acquired Kienle + Spiess, a German-based supplier of rotors and stators for electric drive systems. The proceeds from the rights offering are intended to be used to repay the CHF 125 million bridge facility drawn in connection with the acquisition of Kienle + Spiess, to finance growth investments and for general corporate purposes.
Baker McKenzie advised Feintool on all legal aspects of the capital increase. Matthias Courvoisier (partner, capital markets) and Yves Mauchle (senior associate, capital markets) led the Baker McKenzie team, which consisted of Zurich-based lawyers Kilian Perroulaz (partner, tax), Andrea Bolliger (counsel, tax), Jan Lusti (associate, capital markets), Tanja Schmid (associate, capital markets) and further included Yang Guangshui (partner, Beijing), Christoph Wolf (partner, Frankfurt), Ulrich Weidemann (counsel, Frankfurt), Thomas J. Rice (partner, New York) and Alexander Fields (associate, New York).