Landis+Gyr raises USD 165 million from DLJ Merchant Banking Partners and Global Shareholder Base

Landis + Gyr, the world's largest electricity metering and smart meter solutions group, has announced that it had signed an agreement to raise an additional USD 165 million in capital to fund the group's continuing growth and support smart metering roll-out world wide. Joining Landis+Gyr's global base of existing shareholders for this investment round is DLJ Merchant Banking, a division of Credit Suisse's Asset Management Division. The transaction has been signed and closed in April 2010.

Lenz & Staehelin advised DLJ Merchant Banking Partners and Credit Suisse as new investors in Landis+Gyr. The team was led by Beat Kühni (overall, corporate and finance), Patrick Schleiffer (corporate, capital markets and securities laws) and Pascal Hinny (taxes) and comprised Liv Droz, Maja Baumann, Dominik Kaczmarczyk, Nathanael Frischkopf and Ruedi Ackermann.