Citadele banka to sell Kaleido Privatbank

Citadele banka announced today that it has entered into a binding agreement with Trusted Novus Bank Limited regarding the sale of its Swiss subsidiary Kaleido Privatbank AG. The closing of the transaction is subject to regulatory approvals and is expected in the second half of 2022.

Lenz & Staehelin is advising Citadele banka and Kaleido Privatbank on this transaction. The team includes Tino Gaberthüel (Corporate/M&A), Stefan Breitenstein, Robin Hauser (both Regulatory) and Ann Weibel (Corporate/M&A).