Public exchange offer for all publicly held Pargesa shares to simplify the current holding structures

On 11 March 2020 Parjointco, a company jointly controlled by the Desmarais and Frère family group, which currently owns 55% of Pargesa Holding SA, announced a public exchange offer for all publicly held Pargesa shares, to simplify the current holding structures. Under the exchange offer, Parjointco will offer shares in Groupe Bruxelles Lambert, a company listed on Euronext in Belgium, to the minority shareholders of Pargesa, which is listed on SIX Swiss Exchange. The offer is expected to be published on 22 April 2020.

Lenz & Staehelin is advising the Desmarais and Frère groups in this transaction. The transaction team is led by Jacques Iffland, and includes Ariel Ben Hattar, Federico Trabaldo Togna, Marie-Hélène Spiess, Ann Francesca Weibel, Clément Bouvier and Vincent Huynh Dac.