Commerzbank Switzerland sold to Vontobel
On 30 July 2009, Commerzbank AG has sold Commerzbank (Schweiz) AG to Vontobel Holding AG for an undisclosed purchase price. The transaction is subject to the approval of the relevant supervisory authorities. As of 31 December 2008 Commerzbank (Schweiz) AG had 127 employees and the assets under management totalled roughly CHF 4.5 bn.
Lenz & Staehelin advised Commerzbank as Swiss Counsel in this transaction. The team was led by Beat Kühni (overall) and Pascal Hinny (taxes) and included Liv Droz, Daniel Hufschmid, Daniela Wieser, Raphael Butz and Fabiano Menghini.