Pestalozzi advised a syndicate of banks on the financing of the acquisition by Apax Partners of Orange Communications SA
Pestalozzi acted as Swiss counsel for the lenders in connection with the financing of the acquisition by Apax Partners of Orange Communications SA, one of the three largest mobile telephone operators in Switzerland with a 2010 revenue of CHF 1.3 billion, from France Telecom. The lenders are a syndicate of banks including Citibank, Credit Suisse, Deutsche Bank, JP Morgan Chase Bank, Morgan Stanley and UBS. This cross border matter was valued at about CHF 2 billion. In this complex matter involving the jurisdictions of several countries such as France and the United States the team is acting for the lenders in bank financing and for the subscribers of notes.