EFG International enters into an agreement to transfer its Ticino-based retail business to BancaStato

Niederer Kraft Frey is acting as counsel to EFG International in the transfer of its Ticino-based retail business lines, with around CHF 1.2 billion of client assets, to Banca dello Stato del Cantone Ticino (BancaStato). The transaction is expected to close in the first quarter of 2021.

EFG International is a global private banking group offering private banking and asset management services and is headquartered in Zurich. EFG International’s group of private banking businesses operates in around 40 locations worldwide. Its registered shares are listed on SIX Swiss Exchange.

The NKF team is led by Corporate/M&A partners Philippe Weber and Thomas Brönnimann, working with senior associate Deirdre Ní Annracháin, associate Alessandro Stanchieri (both Corporate/M&A) and partners Daniela Schmucki and Christina Rinne (both tax).