Pestalozzi advises Spice Private Equity AG on Public Takeover by GP Investments
Pestalozzi advised Spice Private Equity AG ("Spice") (SIX: SPCE), a company focused on private equity investments, on the public tender offer by the majority shareholder of Spice, GP Investments, for all publicly held shares. Spice and GP Investments entered into a transaction agreement in June 2022. At the end of the additional acceptance period, the participation of GP Investments and the persons acting in concert with GP Investments amounted to 97.40% of the issued share capital and voting rights of Spice. GP Investments successfully settled the public offer to acquire all publicly held shares of Spice for USD 16.25 per share, as indicated in the offer prospectus on 14 July 2022, on 29 September 2022. With decision of 13 December 2022, SIX Exchange Regulation approved the delisting of all Spice shares from SIX Swiss Exchange. The Spice shares will be delisted once the remaining publicly held registered shares of Spice have been cancelled in accordance with Art. 137 Financial Market Infrastructure Act. A decision of the High Court of the Canton of Zug approving the cancellation is expected in early 2023.
Pestalozzi advised Spice on all aspects of the public tender offer.