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Portrait ofPascal G. Favre

Dr Pascal G. Favre

Managing Partner

CMS von Erlach Partners Ltd
Esplanade de Pont-Rouge 9
PO Box 1875
1211 Geneva 26
Languages French, English, German

Pascal Favre is the head of the Corporate/M&A and Competition Practice Groups of CMS Geneva.

Pascal Favre regularly advises clients on all types of international and domestic M&A deals, transaction and corporate finance, corporate restructurings, relocations, corporate and commercial laws and general contract matters. His practice focuses on joint ventures and projects based both in Switzerland and abroad. Pascal Favre also has extensive experience in acquisition finance, corporate lending, crowdfunding and collective investment schemes, with a special emphasis on those involving real estate.

Pascal Favre is included in The Best Lawyers' 2021 for Corporate Law in Switzerland and is "highly recommended" for Banking & Finance in IFLR 1000's 2021 edition.

Pascal's Corporate/M&A practice is complemented by his solid expertise in Swiss competition and distribution laws – a combination of practice areas that is particularly valued by corporate clients.

He routinely handles the competition law aspects of domestic and cross-border M&A transactions, including notifications on concentrations. Pascal represents companies in antitrust investigations by the Swiss Competition Commission and in appeal proceedings. He also advises corporate clients on searches and internal investigations, compliance and leniency programs.

Pascal's competition work has been recognized as "impressive" by Legal 500 EMEA 2018. He also has been identified by Global Competition Review 2018 and his representation of SNCF Mobilités was highlighted in the GCR 100 Global Elite’s 18th edition.

Pascal Favre is the author of numerous publications, and is a frequent lecturer at universities and speaker in the fields of contract and competition laws.

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The M&A team adjust very easily to the size of merger deal you bring and produce adequate size of merger documents. Audrey and Pascal are very flexible and bring solutions 24/7 which makes look any responsible great to have overcome closing obstacles.

The Legal 500, Switzerland, Leading Firms: French-speaking Switzerland, 2023

One impressed market source praises his "excellent legal mind."

Chambers & Partners, Global, Corporate/M&A, Switzerland, 2022

Pascal Favre provides excellent technical advice and drafting, strong commercial guidance and is highly responsive.

The Legal 500, Commercial, Corporate/M&A, Switzerland, 2020

Pascal Favre is a very good counsel: diligent, reactive and delivering clever advice.

The Legal 500, Competition, Switzerland, 2020

Extremely pragmatic at addressing key issues and is very reliable.

IFLR1000, Financial and corporate, Switzerland, 2019

Pascal Favre is increasingly visible, already receiving praise as a brilliant up-and-coming talent.

Chambers and Partners, Competition,/Antitrust, Switzerland, 2011

Pascal Favre is extremely proactive, precise and to the point

Chambers and Partners, Competition,/Antitrust, Switzerland, 2010

Pascal Favre is extremely capable, understanding and diligent.

The Legal 500, Competition, Switzerland, 2011

Relevant experience

Corporate/M&A, Finance

  • GEODIS INTERNATIONAL, a world leader in transport and logistics, on the acquisition of a 100 percent interest in the Swiss freight forwarder, ITS - International Transport & Shipping Ltd.
  • ProductLife Group, a leading multinational life sciences corporation with a global presence, on the acquisition of a 100 percent interest in the Cilatus BioPharma Consulting AG (Cilatus) and its Irish subsidiary Cilatus Manufacturing Services Ltd.
  • WSP Global Inc. (TSX: WSP), one of the world's leading engineering professional services firms on its cross-border acquisition of BG Bonnard & Gardel Holding SA, one of Switzerland's leading engineering companies, along with its subsidiaries in France, Italy and Portugal.
  • DuPont (NYSE: DD), the global innovation leader with technology-based materials and solutions, in the Swiss component of DuPont's Mobility & Materials divestiture to Celanese.
  • Vivalto Santé Investissement SA - the investment arm of Vivalto Santé, the third largest group of private hospitals and clinics in France - in its cross-border acquisition of 75 percent interest in Groupe CIC Santé SA and of 50 percent interest in RXPM SA - Swiss groups active in the life sciences and healthcare.
  • Hyperion Insurance Group Limited, a leading UK insurance group, in its cross-border acquisition of a Swiss insurance brokerage firm and its UK and Ireland subsidiaries.
  • A world's leading oil and gas supplier, in the context of its two subsequent asset spin-off transactions in Switzerland involving, respectively, a fuel energy provider in the downstream oil and gas sector and an LPG trading company.
  • ERMEWA Group, a European leader for industrial railcars and tank containers leasing services and a member of SNCF Mobilités EPIC, in its cross-border EUR 1.5 billion debt restructuring and refinancing through a combination of multicurrency-secured bank debt and US private placement.
  • ERMEWA Group in its acquisition finance of the Raffles Lease M&A deal.
  • KfW IPEX Bank, a leading German financial institution specializing in infrastructure projects, in its cross-border several-hundred-million EUR financing of the purchase of a rental freight cars fleet and subsequent leasing operations.
  • A global leader in traceability and authentication solutions for securities instruments, in the refinancing of its term loan and revolving credit facilities.
  • CHA Technologies Group, a global leader in the field of woven and nonwoven textile and fibers, as a borrower in a cross-border multi-million US dollar syndicated credit facility transaction.
  • PRIO SA, a Swiss joint venture between SIG-i Capital AG, a private markets investment manager, and VTG AG, Europe's leading leasing and rail logistics companies, for the acquisition of a significant railcar fleet and its subsequent lease operations.
  • MICHELIN, the world’s second largest tire manufacturer, in its acquisition of a minority stake in the German automotive service provider, A.T.U Auto-Teile-Unger Handels GmbH & Co. KG, from Mobivia, a European leader in the automotive servicing and repair market.
  • SNCF Mobilités EPIC, the French largest national railway operator and a subsidiary of SNCF Group, in its acquisition of a 45% stake in BLS Cargo AG, one of the main players in the Swiss rail freight transport market.
  • INEOS, one of the world’s leading multinational corporations in the chemical industry, in its acquisition of FC Lausanne-Sport, a Swiss historic football club.
  • Meditest SA, a family-owned group based in Vevey and specialised in medical laboratories, in its sale to Unilabs, Laboratoires d’analyses médicales SA.
  • The founders of My-Store SA, Western Switzerland’s leading online outlet shop, in their sale of a 60% stake to the Swiss media company, Ringier AG.
  • Crowdpark SA on all legal, corporate and regulatory aspects of setting up and launching its real estate crowdfunding platform.
  • A global leader in rental and management of industrial wagons and containers based in Geneva in the context of a demerger and capex financing transactions.
  • A world leading brewer with respect to distribution partnership agreements and export contracts.
  • A global leader in security inks for banknotes and value documents, on several corporate, refinancing and M&A issues.
  • The world's largest manufacturer and maintainer of people-moving products based in the US, in the context of the restructuring of its European entities as well as M&A transactions in Switzerland.

Competition and Antitrust

  • Diffulivre, a Swiss company and member of the Hachette Group, in its successful appeal before the Swiss Supreme Court brought against the 2019 judgment by the Swiss Administrative Court regarding the distribution of French language books in Switzerland.
  • SNCF Mobilités on the competition law aspects of the M&A transaction with BLS Cargo AG.
  • A leading brand in luxury skincare in Europe in the structuring of its distribution network.
  • An authorized car dealer of the Volkswagen brands, in large-scale cartel proceedings by the Competition Commission against a group of automotive car dealers in the canton of Ticino.
  • Azienda elettrica ticinese in the notification to the Swiss Competition Commission of its acquisition, from Alpiq AG and PRH Holding SA, of a majority interest in Società Elettrica Sopracenerina SA.
  • A global leader in content publishing, production and distribution based in France on a concentration involving the sale of its distribution entities in Switzerland.
  • A global leader in finance protection and private-equity on a concentration in the travel agency services sector.
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Memberships & Roles

  • Swiss Bar Association (SAV/FSA)
  • Geneva Bar Association (ODAGE)
  • Swiss Association of Competition Law (ASAS)
  • Swiss Jurists Society (SJV/SSJ)
  • Swiss American Chamber of Commerce
  • Swiss M&A Experts Chamber
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  • Recueil de contrats commerciaux, Contrat de représentation exclusive, in: Sylvain Marchand/Christine Chappuis/Laurent Hirsch (eds.), Bâle et al. 2013
  • Recueil en droit de l'énergie, Textes internationaux, européens et suisses, Geneva et al. 2011, with Isabelle Fellrath and Frank Spoorenberg
  • Les contrats spéciaux, 4th ed., Zurich et al. 2009, with Prof. Pierre Tercier
  • Le transfert conventionnel de contrat, Analyse théorique et pratique, thesis Fribourg, AISUF 246, Zurich et al. 2005
  • Best efforts clauses in Swiss law: a few considerations in the light of selected examples, in: Concerto arbitral en trois mouvements pour Pierre Tercier in: Lara Hammoud/Clarisse von Wunschheim/Marie-Noëlle Zen-Ruffinen (eds.), Geneva et al., 2013, with Prof. Marie-Noëlle Zen-Ruffinen
  • Le point sur la Partie spéciale du droit des obligations / Entwicklungen im Obligationenrecht, Besonderer Teil, Revue suisse de jurisprudence (RSJ/SJZ) 110 (2014), 109 (2013), 108 (2012), 107 (2011), 106 (2010), with Prof. Pierre Tercier
  • Renonciation anticipée à former un recours de droit public : Revirement de jurisprudence, Note à l'ATF 4P.110/2006 du 17 juillet 2006, Jusletter 23 October 2006, with Silvio Venturi

Competition and Antitrust

  • Merger Control Review, Chapter Switzerland, Law Business Research, since 2017
  • Le risque concurrence et sa gestion par le conseil d'administration d'une société anonyme, GesKR 1|2019, with Sarah Bechaalany
  • Commentaire romand, Droit de la concurrence, Commentaire des articles 4 al. 3, 9 et 10 LCart, in: Vincent Martenet/Christian Bovet/Pierre Tercier (eds.), 2nd ed., Geneva et al. 2013, with Silvio Venturi
  • Le contrôle des concentrations d'entreprises dans le secteur de l'électricité, Pratique de la Commission de la concurrence Jusletter 27 October 2014, with Jérôme Levrat
  • Les perquisitions en droit de la concurrence, "New de l'électricité" Bulletin SEV/AES 7/2010 (Association des Entreprises électriques Suisses), June 2010, with Jérôme Levrat
  • The Merger Control Review, Switzerland, in: Ilene Knable Gotts (ed.), Law Business Research, co-author of the chapter on Switzerland since 2010 to date
  • Les sanctions directes et le conseil aux entreprises : zones d'ombre, in: Marc Amstutz/Walter Stoffel/Patrik Ducrey (eds.), Le droit des cartels suisse 13 ans après le changement de paradigme, IDé, Zurich et al. 2009, with Silvio Venturi
  • L'abus de position dominante en droit de la concurrence, droit matériel, Fiches juridiques suisses N° 337, November 2007, with Silvio Venturi
  • Concentration d'entreprises : Exclusion du droit de recours des tiers, Note à l'ATF 2A.535/2004 du 14 juin 2005, Jusletter 17 October 2005, with Silvio Venturi

Other contributions

  • Developments in National Competition Laws, Swiss Report, Wirtschaft und Wettbewerb (WuW), contributor since 2007 to date
  • Competition and Cartel Leniency, Practical Law, Multi-Jurisdictional Guide, Switzerland, contributor from 2009 to 2014
  • International Law Office (ILO), Swiss Competition Reports, contributor since 2007 to date


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Lectures list

  • 2018, 2019, Marathon du droit – Geneva Bar Association: General part of the Code of Obligations
  • 2017, 8th Edition of the Workshop on competition law by the Centre Patronal jointly with the Swiss Association of Competition Law (ASAS) and the Centre for Corporate Law (CEDIDAC), "Fee and Tariffs Recommendations"
  • 2018, 2015, 2014 and 2012, University of Geneva, Master course, Faculty of economic and social sciences, under the direction of Prof. Marie-Noëlle Zen-Ruffinen, "Direct sanctions under the Swiss Competition Act"
  • 2016 and 2014, University of Fribourg, Master course, Banking and Finance law, under the direction of Prof. Jean-Baptiste Zufferey
  • 2010 and 2009, University of Fribourg, Master course (International commercial contracts), under the direction of Prof. Pierre Tercier, "Joint Ventures in Switzerland: Key contractual issues and merger control regulation"
  • Workshop on the drafting of commercial contracts, Geneva Bar Association / University of Geneva, February 2014, Agency contract, exclusive distribution and franchising agreements, with Prof. Sylvain Marchand and Prof. Jacques de Werra
  • Development institute international, 4th International Roundtable General Counsels 2012, Geneva June 2012, Dealing with legal privilege and procedures, the headache of your legal team
  • Swiss Association of Asset Managers (VSV-ASG-SAAM), La distribution de fonds de placement, Geneva, November 2010
  • Association des entreprises électriques suisses (VSE/AES), Le droit de la concurrence – Défis pour la branche, Lausanne, April 2010
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  • 2005 - Docteur en droit, University of Fribourg, Switzerland (summa cum laude, obtained three awards: Peter Jäggi Stiftung, Walther Hug Stiftung and Joseph Vigener)
  • 2004 - Bar Admission (Geneva, Switzerland, 1st ranked)
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10 key aspects of the revised EU competition law in the field of distribution...
The new Vertical Block Exemption Regulation (VBER) and the new accompanying Vertical Guidelines (VGL) were published on 10 May 2022. The new VBER will enter into force on 1 June 2022 and apply for the next twelve years. The new VBER/VGL introduce sev


CMS Expert Guide to Foreign Investment Screening Laws in Switzerland
Switzerland is contemplating introducing an FDI screening regime but does not yet have any regime in place
CMS Switzerland ranked in Chambers and Partners Europe Guide 2024
Awards & Rankings
CMS advises CPI Property Group in the sale of its Crans-Montana mountain...
Geneva, 1 Decem­ber 2023Last Wednesday, 29 November 2023, CPIPG entered into a binding agreement for the sale of ski resort infrastructure assets in the Crans-Montana Mountain Resort valuated at more than of CHF 110 million. The deal covers approximately 84-percent ownership stake in Remontées Mécaniques Crans Montana Aminona (CMA) SA, which controls and runs all the resort's lifts, in addition to several other key assets and properties, including restaurant outlets and a ski school business. The seller, CPIPG – a leading real-estate portfolio company listed on the Frankfurt Stock Exchange – is one of the largest owners of in­come-gen­er­at­ing real estate across Europe. The purchaser, Vail Resorts – a premier US-based mountain resort company listed on the New York Stock Exchange – operates ski resorts across North America, Switzerland and Australia. Partner Pascal Favre leads the CMS Corporate/M&A team in Geneva advising CPIPG and handling all legal aspects of this transaction on the seller-side. The team further includes Sr. Associate Audrey Durand, Associate Aye Al-Jarrah and Trainee David Müller. Our lawyers work across the table from Lenz & Staehelin's team led by Partner Beat Kühni and composed of Partners Tino Gaberthüel and Fabiano Menghini, as well as Associates Stephanie Buschta, Ann Francesca Weibel and Vincent Huynh Dac. CMS Switzer­land­Dr Pas­cal Favre, Lead Partner, Corporate / M&AAudrey Durand, Senior Associate, Corporate / M&AAye Al-Jar­rah, As­so­ci­ate, Corporate / M&ADavid Müller, Train­ee, Corporate / M&ALenz & Staehelin Beat Kühni, Lead PartnerTino Gaberthüel, PartnerFabiano Menghini, PartnerStephanie Buschta, Associate Ann Francesca Weibel, AssociateVincent Huynh Dac, Associate
CMS advised Druz Family in 55% stake sale of VMD Group to Corticeira Amorim
CMS Switzerland advised the Druz family, the owners of VMD Group, in the sale of a majority (55%) stake in the Group to the Portugal-based Corticeira Amorim, S.G.P.S., S.A., acting through its subsidiary Amorim Cork S.A. VMD Group, comprising Chaillot Bouchons SA, Suboeno SA and PM Œnologie Consulting Sàrl, is Switzerland's leader in the production of cork stoppers and the distribution of oenological products. The Group, established in the late 19th Century as a family business, is led by Vanessa Druz – a fourth generation family member. Amorim group is the world’s largest cork producer and one of the most dynamic Portuguese multinationals with almost 150 years of experience in the industry and presence in hundreds of countries around the globe. The synergies created through this transaction will allow VMD to further its development goals, combining technology, know-how and tradition to produce top-quality products and solutions tailored to the needs of its customers. The CMS Tax and Corporate / M&A team led by Andrio Orler and Pascal Favre, comprised Kevin Marcato, Julien Witzig, Maëlle Imloul and David Müller. CMS worked side by side with RSM Switzerland's Corporate Finance team led by Daniel Rochat and Jean-Yves Bonvin, and comprising Elizabette Carreiras and Benjamin Gibello. CMS Switzer­landAndrio Orler, Partner, TaxPascal Favre, Partner, Corporate / M&AKevin Marcato, Associate, Corporate / M&AJulien Witzig, Counsel, TaxMaëlle Imloul, Paralegal, TaxDavid Müller, Attorney Trainee, Corporate / M&ARSM Switzerland Corporate Finance Team Daniel RochatJean-Yves BonvinElizabette Car­reir­as­Ben­jamin Gibello
CMS advises Geodis International on its acquisition of ITS - International...
GEODIS INTERNATIONAL, a world leader in transport and logistics, expanded its global footprint with the acquisition of a 100% interest in the Swiss freight forwarder, ITS - International Transport & Shipping Ltd. The deal, closed on 31 May 2023, takes GEODIS a step closer to completing its global end-to-end network. 
CMS advises ProductLife Group on the acquisition of Cilatus
ProductLife Group, a leading multinational life sciences corporation with a global presence, expanded its footprint in Switzerland with the acquisition of a 100 percent interest in the Cilatus BioPharma Consulting AG (Cilatus) and its Irish subsidiary Cilatus Manufacturing Services Ltd. The deal closed on 10 May 2023.
CMS Switzerland recommended by The Legal 500 EMEA 2023
Rankings of CMS Switzerland in The Legal 500 EMEA 2023 Edition
CMS Switzerland recommended in the Chambers Europe Guide 2023
Chambers and Partners has pub­lished its rankings of Europe's lead­ing law firms and lawyers in the Europe Guide 2023. Our firm and our lawyers are listed in both rankings for Switzerland.
CMS advised WSP Global Inc. in its acquisition of BG Bonnard & Gardel Holding...
We are happy to share that CMS Switzerland has advised WSP Global Inc. (TSX: WSP) on its acquisition of BG Bonnard & Gardel Holding SA, one of Switzerland's leading engineering consultancies, with a strong presence in France and subsidiaries in Italy and Portugal. This strategic deal will reinforce WSP's presence in the region and bolster its expertise in top three markets, including Transportation & Infrastructure, Property & Buildings and Earth & Environment. The CMS team was led by partner and head of Corporate/M&A in Geneva, Pascal Favre, and comprised Kevin Marcato, Francesca Scalco, Audrey Durand and David Müller. This cross-border transaction also involved CMS teams in France (lead partners: Arnaud Hugot, Caroline Froger-Michon et Claire Vannini), Italy (lead partner: Daniela Murer) and Portugal (lead partner: Francisco Xavier de Almeida).
CMS Switzerland ranked in Chambers Global Guide 2023
Chambers and Partners has pub­lished its rankings of the world's leading law firms and lawyers in the Global Guide 2023. Our firm is again listed in both rankings for Switzerland.
CMS advises Cité Gestion SA, throughout its acquisition of Sartus Capital...
Independent private bank Cité Gestion SA ("Cité Gestion") merged with multi-family office Sartus Capital (Genève) SA ("Sartus Capital") expending its total asset under management around CHF 7 billion. The CMS Switzerland team led by Geneva partners Vaïk Müller (co-head of Banking/Finance) and Pascal Favre (Head of Corporate/M&A) advised Cité Gestion on M&A and contractual aspects of the underlying investment transactions. Geneva-based Sartus Capital was founded in 2016 and acquired by its management in 2021. Cité Gestion was founded in 2009 as an independent asset manager before being authorized as a bank by the Swiss Financial Market Supervisory Authority FINMA in 2022. Following this merger, Cité Gestion’s total assets under management will reach around CHF 7 billion. The combined entity employs about 100 people at in Geneva, Lausanne, Zurich, and Lugano.
CMS advised DuPont in its M&M Divestiture to Celanese
 The global innovation leader with technology-based materials and solutions, DuPont (NYSE: DD), has divested on November 1, 2022, the majority of its former Mobility & Materials segment (the “M&M Divestiture”) to Celanese. Dr Pascal Favre led the Geneva team of CMS Switzerland who advised DuPont Switzerland and handled all aspects of the Swiss component of the M&M Divestiture. The team further comprised Audrey Durand, Kevin Marcato and David Müller. For more information on the transaction, please vis­it:  ht­tps://www. dupont. com/news/dupont-com­pletes-mo­bil­ity-ma­ter­i­als-di­vestit­ure-to-celanese. html