Exclusive Financial Advisor to the CPH Group

On 20 March 2024, CPH Chemie + Papier Holding AG announced its intention to separate its paper business and real estate from its chemicals and packaging activities. The transaction is intended to further enhance the company's long-term value and increase its attractiveness on the capital market. The spin-off will create two focused companies in their respective markets from the historically grown industrial conglomerate. The growth-oriented and high-margin Chemistry and Packaging divisions will remain in the listed CPH Chemie + Papier Holding AG, which will now operate under the name "CPH Group AG". This opens up the possibility of substantially increasing the global market presence of the well-established Zeochem and Perlen Packaging brands and preparing CPH Group AG for the future. Geographically, the focus is on international niche markets with above-average growth opportunities in Asia, the USA and Latin America. The more volatile paper manufacturing business will be continued together with the real estate in Perlen in a newly established "Perlen Industrieholding AG", whose shares will be traded over-the-counter. As an independent company in an off-exchange environment, the paper business can concentrate better on its strengths and the "last man standing" strategy. In addition, the real-estate assets of the Perlen industrial site offer long-term attractive commercial potential for Perlen Industrieholding AG.

Support by IFBC

IFBC acted as exclusive Financial Advisor to the CPH Group throughout the entire transaction process. In particular, IFBC developed a suitable transaction structure, prepared the valuations and provided support with the equity story and financing. Together with the management of the CPH Group, the opportunities and risks of the spin-off were identified and the course of action was determined to ensure a successful future for both companies.

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Support by NKF

Niederer Kraft Frey acted as exclusive legal counsel advising CPH on all corporate, capital markets and tax aspects of this transformational transaction. The NKF team was led by Manuel Werder and Philippe Weber working with Pascal Hodel, Thomas Graf, Morgan Boëffard and Janika Leuzinger.

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About CPH

CPH Chemie + Papier Holding AG is an internationally active, diversified industrial group headquartered in Switzerland. Its activities include the development, production and distribution of chemicals, wood-containing papers and pharmaceutical packaging films. The CPH Group and its subsidiaries have production facilities in Switzerland, Germany, Bosnia-Herzegovina, the USA, Brazil, China and India. CPH shares (ticker CPHN) are listed on the SIX Swiss Exchange.

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