26 Mar 2012
Ad hoc announcement pursuant to Art. 53 LR

Federal Court, Lausanne rules in favour of ARYZTA AG

Zurich / Switzerland, 26 March 2012 

The Federal Court (Bundesgericht), Lausanne, has ruled in favour of ARYZTA AG (“ARYZTA”) and dismissed the appeal brought by Peter J. Lehner & Partner AG (“Lehner”) against the decision of the Commercial Court of the Canton of Zurich (Handelsgericht des Kantons Zurich) dismissing Lehner’s claim and ruling in favour of ARYZTA.

Lehner’s legal action involved a challenge to the validity and fairness of the exchange ratio applied in the combination of the former Hiestand Holding AG and IAWS Group plc under ARYZTA AG. 

ARYZTA has consistently maintained that the claim was without merit and the decision of the Federal Court brings the proceedings to a conclusion.


Paul Meade
Communications Officer
Tel. +41 (0) 44 583 42 00