Baker & McKenzie announced today that it is advising 3i on one of the largest management buy-outs of 2003 in Switzerland. 3i, together with the management team, is to acquire MIB AG Property+Facility Management from Siemens Building Technologies AG. The deal, which was signed on 8 November 2003, is subject to approval by the Swiss Merger Control Authorities.

Headquartered in Baden, MIB AG Property+Facility Management is the leading provider of facility management services in Switzerland, with some 700 employees and a turnover of CHF125 million. The company is responsible for more than 1,000 buildings, occupying a total of 3.5 million square meters. Post buy-out, the business will be jointly owned by 3i and the management team, led by Chairman Josef Spichtig and Managing Director Hans Dietz. 3i will be the majority shareholder.

The Baker & McKenzie team advising 3i is led by Zurich partners Martin Frey and Martin Furrer, supported by Marcel Giger, Lukas Glanzmann, Davide Jermini, Christian Drechsler and Theo Härtsch.

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