Bank J. Safra Sarasin AG acquires the remaining 42.5% of the Swiss online bank zweiplus ag
17 February 2022 – Bank J. Safra Sarasin AG acquires the remaining 42.5% of the Swiss online bank zweiplus ag from Aabar Trading, a subsidiary of the sovereign wealth fund of Abu Dhabi. bank zweiplus will remain a FINMA-licensed company and operate independently.
The acquisition of the remaining shares in bank zweiplus will allow clients and employees to benefit from Bank J. Safra Sarasin’ commitment to further invest and expand the bank's offering and expertise.
bank zweiplus offers trading and custodian services and has a sophisticated range of products and services specially tailored to direct clients and clients of financial intermediaries and insurance companies. As of the end of 2020, bank zweiplus reported CHF 6.1 billion in customer assets.
Walder Wyss advised Bank J. Safra Sarasin AG in the transaction on all corporate, regulatory and tax matters. The team was led by Patrick W. Vogel (Partner, Banking and Corporate/M&A) and further included Fouad G. Sayegh (Partner, Tax), Adriano Antonietti (Partner, Banking & Finance), Valentine Schnyder (Associate, Banking & Finance), Alexander Sorton (Associate, Corporate/M&A), Sonya Figueredo (Senior Associate, Tax) and Camille Tistounet (Associate, Corporate/M&A).