On May 7, 2019, Salt announced that it has signed a binding agreement to sell 90% of the equity interest in Swiss Infra Services SA, a company owning Salt's passive mobile infrastructure in Switzerland to Cellnex for an upfront cash consideration of CHF 0.8 billion. Closing occurred on August 5, 2019.
The transaction was preceded by a restructuring of Salt's Swiss passive mobile infrastructure through a merger and a subsequent spin-off in Switzerland.
Lenz & Staehelin advised Salt on all Swiss aspects of this transaction. The team was led by partner Andreas Rötheli (co-head Corporate and M&A) and senior associate Roman Graf (Corporate and M&A), and included partners Floran Ponce (Tax) and Cécile Berger Meyer (Real Estate), senior associates Nathalie Adank (Real Estate), Federico Trabaldo Togna and Daniele Gugliotta (both Corporate and M&A), Sevan Antreasyan (Intellectual Property), as well as counsel Sara Rousselle-Ruffieux (Employment), among others. Paul Hastings acted as international legal advisor to Matterhorn Telecom.