CMS advises UBS on the sale of the hotel Widder
As of 31 August 2018, UBS has sold the hotel Widder as well as adjacent premises located at Augustinerhof 1, Augustinergasse 15 and 20 as well as Widdergasse 10, to Swiss Life. The sale is a consequence of the upcoming re-opening of UBS's headquarter at Bahnhofstrasse 45 which will create additional space for UBS which is why the hotel Widder will no longer be required as a alternate location for conferences and seminars.
Concurrently, UBS has sold the company operating the hotel Widder and all related catering businesses to IHAG Holding AG. IHAG Holding AG and Swiss Life have entered into a long-term rental agreement concerning the hotel premises. Further, IHAG Holding AG will continue to conduct the hotel's business with the current management and staff within its renowned 5-star-hotel group «The Living Circle». Thereby, the operations of the hotel will be upheld in consideration of the premises' historical significance.
A team of CMS Zurich led by Sibylle Schnyder has advised UBS on all legal aspects of this combined real estate and M&A transaction.
Sibylle Schnyder, Lead Partner, Real Estate
Alain Raemy, Partner, Corporate/M&A
Florian Jung, Associate, Corporate/M&A
Katja Bertsche, Associate, Real Estate