Christoph Neeracher

Bär & Karrer Ltd

Zurich www.baerkarrer.ch

christoph.neeracher@baerkarrer.ch Tel: +41 58 261 52 64

Biography

Christoph Neeracher specialises in international and domestic M&A transactions (focusing on private M&A and private equity transactions, including secondary buyouts, public to private transactions and distressed equity), transaction finance, venture capital, start-ups, corporate restructurings, relocations, corporate law, general contract matters (eg, joint ventures, partnerships and shareholders’ agreements) and all directly related areas, such as employment matters for key employees (eg, employee participation and incentive agreements).

How has the market changed since you first started practising?

The pace of transactions has significantly increased since I first started practising. Also, the involved parties are much more sophisticated than in the past. Thus, deal experience, as well as the ability to provide commercial advice, are key.

What are the main challenges you currently face when negotiating complex deals?

In order to succeed in auction processes in the current seller-friendly market, it is key to be as pragmatic as possible while at the same time ensuring sufficient protection for the client. This is a reason why the ability to provide commercial advice is absolutely key.

Have you noticed a shift in how negotiations are undertaken in transactions?

As mentioned, the pace of transactions has significantly increased in the last decades. This also has an impact on the way negotiations are undertaken – the lawyers need to focus on the key elements of the agreements. The pandemic accelerated a trend towards negotiations via video/telephone conferences. However, in critical cases, physical negotiations may be helpful to find an agreement.

What have you noticed about the increasing standardisation in M&A transactions?

While there is a certain standardisation in M&A transactions, it is, in my view, important to treat each transaction as unique. This is imperative to be able to focus on the real key topics in a transaction and to avoid that unnecessary work products are produced which are not required by the client.

How are tax-free capital gains used to incentivise management?

This is of course the key goal of management incentives and there are certain ways to achieve such goal. However, management incentives should at the same time be easily manageable and thus, under certain circumstances, simple cash bonuses may be advisable.

How do you anticipate the Swiss legal market changing in the next five years? How might this affect your practice?

We expect that the pace will further increase. Thus, to cope with such pace, it will be important that the legal M&A team consists of a larger team of senior lawyers who seamlessly work together.

What professional challenges are you expecting to encounter in the remainder of the year, and how do you expect to navigate them?

We expect the remainder of the year to be very busy. It remains to be seen whether the measures taken in connection with the pandemic will have a (more significant) impact in the next year.

WWL says: Christoph Neeracher is “undoubtedly one of the leading names for private M&A transactions in the Swiss market”.