Deutsche Börse Group’s post-trade services provider Clearstream and Ubs have agreed on a partnership in the investment fund services business segment. The parties have reached a joint agreement by which Clearstream acquires 51,2% of Zurich-based fund distribution platform Fondcenter from Ubs for Chf 389 million. Ubs will retain a minority of 48,8%. The employees of Fondcenter will transfer to Clearstream and management team will take senior positions.
Bär & Karrer acts as legal advisor to Deutsche Börse Group on this transaction. Allen & Overy advises on foreign law aspects. The team includes Mariel Hoch (pictured), Florentin Weibel, Fabienne Perlini-Frehner (all m&a), Daniel Flühmann, Tiffany Ender, Stefan Wandel, Marvin Kanku (all banking & insurance), Markus Wang, Jonas Bornhauser (both ip & technology), Mani Reinert (antitrust) Laura Widmer (employment) and Ruth Bloch-Riemer (social security & pension).
Baker McKenzie advised Ubs. The team included Petra Hanselmann, Pascal Richard, Ansgar Schott, Tanja Schmid, Ramon Tissafi, Markus Winkler (all corporate) and Philippe Monnier (employment), Julia Schieber (intellectual property) and Boris Wenger (competition).