Baker McKenzie Switzerland advised DocMorris in connection with the repurchase offer for its CHF 200 million bonds due 2024. On 12 May 2023, DocMorris AG (the “Company” or “DocMorris”) announced an invitation to bondholders to tender any-and-all of their 2.50% bonds due 21 November 2024 (the “Bonds”) for cash (the “Tender Offer”).

The total amount of Bonds which were validly tendered by the Expiration Date of the Tender Offer on 26 May 2023 is CHF 109,155,000, representing 55% of the Aggregate Principal Amount of the Bonds. The tender offer purchase price was 98.00% of the par value plus accrued interest. The payment of the total consideration and the delivery of the Bonds pursuant to the Tender Offer took place on a delivery versus payment (DVP) basis and was made with value date 1 June 2023.

The Swiss-based DocMorris AG is a leading company in the fields of online pharmacy, marketplace and professional healthcare with strong brands in Germany and other European countries. As Germany's largest online pharmacy, it operates DocMorris, the best-known health platform. Deliveries are mainly from the highly automated logistics centre in Heerlen, the Netherlands, with a capacity of over 27 million parcels per year. In Spain and France, the company operates the leading marketplace for health and personal care products in Southern Europe. With its business model, DocMorris offers its patients, customers and partners a broad range of products and services. In doing so, DocMorris is pursuing its vision of creating a digital health ecosystem for everyone to manage their health in one click. The company was renamed from Zur Rose Group AG to DocMorris AG in May 2023 after the Swiss business was sold to Migros/Medbase. Excluding the Swiss business, about 2,200 employees in Germany, the Netherlands, Spain, France and Switzerland generated an external revenue of CHF 1,159 million serving around 10 million active customers in 2022. The shares of DocMorris AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker DOCM).

Baker McKenzie advised DocMorris in all legal aspects of this transaction. The Baker McKenzie team consisted of Zurich-based capital markets lawyers Matthias Courvoisier (partner), Yves Mauchle (senior associate) and Bettina Klein (associate).
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