Landis + Gyr Completes Initial Public Offering

July 26, 2017

Landis + Gyr Group AG, headquartered in Zug, Switzerland, completed its CHF 2,295,388,290 (approximately $2,404,730,000) initial public offering and listing on the SIX Swiss Exchange, consisting of a secondary offering of 29,428,055 shares by its existing shareholders. The shares were offered at CHF 78 and represented 99.7 percent of the issued share capital of Landis + Gyr Group AG.
Landis + Gyr was founded in Switzerland in 1896 and today is a leading global provider of smart metering solutions for electricity, heat/cold and gas, traditional standalone metering products and managed services and solutions to utilities, energy retailers and energy consumers. Landis + Gyr offers its products in more than 70 countries and is a trusted partner to more than 3,500 utilities and energy retailers around the globe.
The transaction consisted of a public offering in Switzerland and private placements to institutional investors in other jurisdictions, including the United States in reliance on Rule 144A. In connection with the offering, all of Landis + Gyr Group AG's shares were formally listed in accordance with the International Reporting Standards of SIX Swiss Exchange AG. S&C acted as U.S. and German counsel to the underwriters.
The S&C team was led by Krystian Czerniecki and Carsten Berrar, along with Sophie Moeder and Alexander Koch. Michael Hogan advised on U.S. tax matters.