Closing of the sales transaction of Valartis Bank (Liechtenstein) AG expected in third quarter of 2016
(Thomson Reuters ONE) -
Valartis Group AG /
Closing of the sales transaction of Valartis Bank (Liechtenstein) AG expected in
third quarter of 2016
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The issuer is solely responsible for the content of this announcement.
Valartis Finance Holding AG sold Valartis Bank (Liechtenstein) AG to Citychamp
Watch & Jewellery Group Ltd., Hong Kong, within the framework of a Share
Purchase Agreement end of March 2016 (signing, see Media Release of 29 March
2016). Valartis Finance Holding AG in Liechtenstein is the Liechtenstein-based
finance holding company of Valartis Group AG, Baar, Switzerland and holds 70
percent in Valartis Bank (Liechtenstein) AG. The transaction is subject to
approvals by the competent corporate bodies and by the Financial Market
Authority (FMA) Liechtenstein and the Hong Kong Stock Exchange as well as to
other customary conditions. The formal approval process in Hong Kong requires
additional time, as was announced today by the buyer, which is not unusual for
such transactions. Closing is expected to occur during the third quarter of
2016 which will not delay current recovery plans of Valartis Finance Holding AG
and Valartis Group AG.
Agenda
Half-year Results 2016 30 August 2016
Annual General Meeting of Shareholders 2017 16 May 2017
For further information, please contact:
Kim-My Schefer, Head Corporate Communications & Marketing
Tel. +41 44 503 54 02, corporate.communications(at)valartis.ch
Chi Wah Fong, CFO, Citychamp Watch & Jewellery Group Ltd., Tel. +852 2275 3706
Lai Lam, CEO Assistant, Citychamp Watch & Jewellery Group Ltd., Tel.
+852 2275 3761
Valartis Group
Valartis Group is an international finance group with offices in Switzerland,
Vienna, Liechtenstein, Luxembourg, Moscow and St. Petersburg. Valartis Group AG
(Baar, Switzerland) is listed on the Swiss stock exchange, SIX Swiss Exchange.
Operations include the fields of Corporate Finance, Private Equity and Real
Estate Management together with participations in the financial services sector.
www.valartisgroup.ch
Press release (PDF):
http://hugin.info/143135/R/2024475/752269.pdf
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Source: Valartis Group AG via GlobeNewswire
[HUG#2024475]
Unternehmensinformation / Kurzprofil:
Datum: 30.06.2016 - 17:30 Uhr
Sprache: Deutsch
News-ID 481091
Anzahl Zeichen: 3026
contact information:
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Kategorie:
Business News
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