On December 15, 2016, Lonza Group AG (Lonza) announced that it entered into a definite agreement under which Lonza will acquire Capsugel S.A. (Capsugel) from Kohlberg Kravis Roberts & Co. L.P. (KKR), for USD 5.5 bn in cash, including refinancing of existing Capsugel debt of approximately USD 2 bn. The acquisition will be financed with a combination of debt and equity financing. Lonza has committed debt financing for the full acquisition amount from Bank of America Merill Lynch International Limited (BofA Merrill Lynch) and UBS Switzerland AG (UBS) and plans to raise equity, which is fully underwritten by UBS and BofA Merrill Lynch for an amount of CHF 3.3 bn.
 
Homburger advised BofA Merrill Lynch and UBS with respect to Swiss law. The Homburger team comprised partners Benedikt Maurenbrecher and Jürg Frick (both Financial Services), Dieter Grünblatt (Tax) and Daniel Daeniker (Corporate | M&A), associates Sergio Bortolani (Corporate | M&A) and David Borer (Financial Services).