Baker McKenzie Switzerland acted as legal adviser for Zur Rose Group AG ("Zur Rose Group") in handing over its successful Swiss business to Migros Group ("Migros") to focus on growth in Germany.

Zur Rose Group sold its Swiss business to the Migros subsidiary Medbase to focus on developing its B2C core business, with its focal point in Germany. The transaction secures the strategy and significantly strengthens the company's capital structure to be best positioned to benefit from e-prescriptions in Germany and digitalization in the healthcare sector.

Medbase is taking over all operational units in Switzerland (excluding land and properties) with all the employees. Zur Rose Group will receive proceeds of around CHF 360 million from the transaction. The transaction is expected to close in the second quarter of 2023, subject to approval by the competition authority.

The proceeds from the sale of approximately CHF 360 million in cash comprise a first tranche upon completion of the transaction, expected in the second quarter of 2023, and an earnout of CHF 47 million based on the achievement of Zur Rose Switzerland's 2023 EBITDA target, payable in the second quarter of 2024.

The team of Baker McKenzie consisted of Matthias Courvoisier, Olha Demianiuk, Yves Mauchle, Beau Visser, Roger Thomi, Bettina Klein, Victoria Brammer and Victoria Hotz.

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