Milbank LLP advised General Atlantic on all capital markets and finance aspects in connection with the initial public offering, international private placement and listing of SMG Swiss Marketplace Group Holding AG (SMG) on the SIX Swiss Exchange, including all related documentation. The offering volume amounted to between CHF 971 million to CHF 1,038 million (assuming the overallotment option is exercised in full).
Founded in 2021 as a joint venture between TX Group AG (“TX”), Ringier, Mobiliar and General Atlantic, SMG is the online marketplaces leader in Switzerland. The SMG group operates well-known brands under three primary business segments: real estate (Homegate, ImmoScout24, Flatfox), automotive (AutoScout24) and general marketplaces (Ricardo, tutti.ch, anibis.ch), complemented by additional price comparison offerings in finance and insurance (FinanceScout24).
General Atlantic is a leading global investor with more than four and a half decades of providing capital and strategic support for over 830 companies throughout its history. The firm combines a collaborative global approach, sector-specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with businesses and management teams and scale innovative businesses around the world.
The Milbank team was led by partner Philipp Klöckner (Corporate Finance & Securities) and included partners David Dixter (Corporate Finance & Securities), Sebastian Heim (Corporate/Private Equity) and Barbara Mayer-Trautmann (Banking and Leveraged Finance), special counsels Karoline König (Corporate Finance and Securities) and Alexander Lang (Banking and Leveraged Finance) and associate Christian Kolb (Corporate Finance & Securities).
