Baker McKenzie advised Georg Fischer (GF) in a voluntary recommended public cash tender offer for all shares in Finnish piping system specialist Uponor. On 12 June 2023, GF and Uponor entered into a combination agreement. The total equity value of the tender offer is approximately EUR 2.1 billion.
GF specializes on the safe transport of liquids and gases, lightweight casting components in vehicles and high-precision manufacturing technologies. The Schaffhausen-based company was founded in 1802 and has three business divisions: GF Piping Systems, GF Casting Solutions and GF Machining Solutions.
The acquisition of Uponor would accelerate GF Piping Systems toward its objective of leadership in water and flow solutions. It would also be consistent with GF's strategic priorities of driving profitable growth and further increasing the resilience of the GF group. The complementary nature of both companies' products and geographical footprints, their similar culture and mutual ESG commitments are expected to allow Uponor's seamless integration as a fourth division within GF.
Baker McKenzie Switzerland advised GF on all Swiss legal aspects of the deal.
Led by partners Matthias Courvoisier (Capital Markets) and Markus Wolf (Banking & Finance), the Baker McKenzie team includes Bettina Klein, (associate, Capital Markets), Sammy Guidoum (associate, Banking & Finance) and Andrea B. Bolliger (counsel, Tax).