Deloitte advises UBS on carve-out and transfer of pension obligations to DBR

An interdisciplinary Deloitte team has advised Swiss UBS on one of the largest recent pension buyout deals in Germany. As part of the transaction, the pension obligations of two former Credit Suisse companies in Germany were transferred to Deutsche Betriebsrenten Holding (DBR). With a volume in the triple-digit million range, the deals are among the most significant recent transactions of their kind in Germany.

Supporting this complex transaction required close integration of legal and actuarial expertise. Deloitte Legal provided legal advice under the leadership of partners Michael von Rüden and Thilo Hoffmann (both Corporate/M&A, Düsseldorf) and Lars Hinrichs (Employment Law & Benefits, Hamburg). On the Deloitte Consulting side, the Pension Consulting Team contributed its extensive experience in structuring and implementing pension carve-outs.

The advisors from Deloitte Legal and Deloitte Consulting who supported the project were able to draw on their experience from successfully supporting a large number of similar projects in the past.

The transaction once again highlights the added value of cross-functional collaboration at Deloitte: The seamless integration of legal expertise, actuarial know-how, and strategic consulting in well-coordinated teams enabled the transfer processes to be implemented quickly and efficiently.

Deloitte has already supported a large number of pension carve-outs and is one of the leading advisors in this growing market segment.

Advisors to UBS:

Deloitte Legal: Dr. Michael von Rüden, LL.M., Thilo Hoffmann, LL.M. (both partners, lead, Corporate/M&A, Düsseldorf), Dr. Lars Hinrichs (partner. Lead Employment Law & Benefits), Elisa Ultsch (senior manager, Employment Law & Benefits, Hamburg)

Advisors to DBR:

A&O Shearman