On February 21, 2016, Banco BTG Pactual S.A. (BTG Pactual) and EFG International AG (EFGI), the listed Swiss private wealth manager, entered into a definitive agreement regarding the sale and purchase of all the shares of BSI SA, a Swiss private bank with headquarters in Lugano. The purchase price consists in a cash payment of CHF 975 million and, subject to dilution adjustment, 52.6 million listed EFGI shares to be created by way of a contribution in kind. The transaction creates a leading Swiss-based wealth and asset management group with approx. CHF 170 million in assets under management. As a result of the transaction, BTG Pactual will become a significant shareholder of EFGI with an interest of approx. 20% of the share capital and voting rights of EFGI. Completion of the transaction is subject to customary closing conditions for a transaction of this kind, including receipt of required regulatory approvals, and is expected to occur in the second half of 2016.

Lenz & Staehelin is advising BTG Pactual in this transaction. The team included Partners Hans-Jakob Diem (Corporate, Lead), Pascal Hinny (Tax), Astrid Waser (Antitrust) and Patrick Schleiffer (Corporate, ECM), and Associates Simone Ehrsam, Nicolas Bonassi, Nicolas Jacquemart, Stefan Brandner and Lukas Aebi.