On June 29, 2023, GAM Holding AG announced the sale of its third party fund services ("FMS Businesses") in Luxembourg and Switzerland to Carne Group ("the Transactions").

The purchase price is EUR 2.25 m for the Luxembourg business and CHF 0.5 m for the Swiss business, subject to adjustments based on revenue performance at closing.

The transactions are expected to close in the fourth quarter of 2023. The announcement of the sale is a material step towards fulfilling a condition of the exchange offer by Liontrust Asset Management PLC ("Liontrust") for all publicly held shares of GAM, on which Homburger also advised.

Homburger AG advised on all aspects of Swiss law relating to the Swiss part of the deal. The Homburger team was led by Claude Lambert (Corporate / M&A) and included Stefan Kramer (Regulatory, Financial Market Regulation and Financial Services) and Gregor Bühler (Employment), as well as Stefan Luginbühl, Isabelle Cordey (all Corporate / M&A), Alexander Wherlock and Sarah Fasel (both Regulatory and Financial Market Regulation).

6th July 2023