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VP Bank Ltd and Catella Bank S.A. have agreed to acquire the Luxembourg private banking activities of Catella Bank through VP Bank in Luxembourg.
VP Bank Group continues to selectively acquire entities which match its current footprint. VP Bank (Luxembourg) SA will take over the private banking business of Catella Bank S.A. in Luxembourg. This transaction in the form of an asset deal involves the acquisition of about 10 employees and client assets of approximately CHF 900 million. The corresponding purchase price is about CHF 12 million.
The former private banking customers of Catella Bank S.A., which are almost exclusively European clients, will continue to be looked after by their trusted personal advisor in Luxembourg and at the same time benefit...
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