Notenstein Private Bank Ltd buys stake in EFG Financial Products Holding Ltd
On 12 March 2013 Raiffeisen Switzerland Cooperative announced that its subsidiary, Notenstein Private Bank Ltd, has increased its stake of 2.5% in EFG Financial Products Holding Ltd to 22.75 % (SIX: FPHN), the parent of EFG Financial Products AG, a Swiss structured investment service provider. The completion of the transaction is subject to certain conditions, especially regulatory approvals, and is expected to take place in the first half of the year of 2013.
Notenstein Private Bank Ltd will also be issuing its own structured investment products guaranteed by Raiffeisen Switzerland Cooperative for the Swiss home market as part of a white-labeling partnership with EFG Financial Products Ltd. Notenstein Private Bank Ltd will be offering structured products under its own name and will become EFG Financial Products’ most important white-labeling partner going forward.
Froriep Renggli has advised both Notenstein Private Bank Ltd and Raiffeisen Switzerland Cooperative as transaction counsel on all Swiss law and regulatory aspects of the transaction. The Froriep Renggli team was led by partner Dr Beat M. Barthold (M&A, Corporate and Commercial) and comprised partners Dr Ansgar Schott (Financial Markets) and Boris Wenger (Competition) as well as associates Pascal Richard, Philippe Stuber, Tervel Stoyanov (M&A, Corporate and Commercial) and Benjamin Dürig and Dr Mark Montanari (Financial Markets).