Pestalozzi advises Austria Press Agency in acquiring major shareholding in Swiss Keystone-SDA (merger transaction)
Austria Press Agency (APA) and Schweizerische Depeschenagentur AG (SDA), the leading press agencies of Austria and Switzerland, merge their 50/50 Swiss joint venture company, Keystone AG, into SDA. Through the merger, APA will become a major shareholder of the new Keystone-SDA Group. In addition, APA and Keystone-SDA entered into a long-term term cooperation in the IT business. The transaction is subject to certain approvals (incl. approval by the national competition commissions). Pestalozzi acted as Swiss legal advisor to APA in this transaction.