November 26, 2009. Laxey Partners sold its 51.4% stake in the SIX Swiss Exchange listed Implenia AG. In order to effect the transaction the bank mandated with the successful placement of the stake had to be exempted by the Swiss Takeover Board from the mandatory bid obligation. Niederer Kraft & Frey AG acted as legal advisor to the bank. The NKF team consisted of Gaudenz Zindel and Philipp Haas.