Deals & Cases

Deals & Cases

September 2011

Sale of ABN AMRO Bank N.V.'s Swiss private banking activities to Union Bancaire Privée, UBP SA

Lenz & Staehelin's Geneva office and international law firm Freshfields Bruckhaus Deringer, acting through its Amsterdam office, advise the Dutch financial group ABN AMRO on the sale of its Swiss private banking activities to Union Bancaire Privée, UBP SA.

The transaction, which is subject to customary closing conditions and regulatory clearances, is anticipated to close in the fourth quarter of 2011. The private banking activities of ABN AMRO Bank (Switzerland) AG serve clients from around 100 jurisdictions with assets of approximately EUR 11 billion as of the first quarter of 2011, and employ around 350 professionals in Switzerland.

Lenz & Staehelin's team was led by banking and finance partner Olivier Stahler and included tax partner Daniel Schafer, as well as associates Nurith Cohen and Nathalie Barzilay (all banking and finance).

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