The J. Safra and P. Peress Groups take over the IWG workspaces (Regus brand) in Switzerland
4 November 2019 – The British workspace developer International Workplace Group (IWG) has agreed to sell all its activities in Switzerland to the J. Safra and P. Peress groups (the Purchasers) for a consideration of CHF 120 million. The parties have also entered into a master franchise agreement granting exclusive rights to use IWG's brands in Switzerland (Regus, Spaces). The transaction is expected to be completed by the end of November 2019.
Walder Wyss advised the Purchasers on the transaction. The team was led by Patrick W. Vogel (Partner, Banking and Corporate/M&A) and included Laurent Schmidt (Senior Associate, Banking and Corporate/M&A), Pierre-Alain Guillaume (Partner, Tax); David Vasella (Partner, Intellectual Property and Data Protection); Hugh Reeves (Senior Associate, Intellectual Property) and Noémi Ziegler (Associate, Data Protection).