Homburger advises GAM on the sale of its FMS Business to Carne

GAM Holding has announced the sale of its third party fund services («FMS Businesses») in Luxembourg and Switzerland to Carne Group. The announcement of the sale is a material step towards fulfilling a condition of the exchange offer by Liontrust Asset Management for all publicly held shares of GAM, on which Homburger also advised.

The purchase price is EUR 2.25 million for the Luxembourg business and CHF 0.5 million for the Swiss business, subject to adjustments based on revenue performance at closing. The transactions are expected to close in the fourth quarter of 2023.

Homburger advised on all aspects of Swiss law relating to the Swiss part of the deal. The team was led by partner Claude Lambert (corporate / m&a, pictured) and included Stefan Kramer (regulatory, financial market regulation and financial services) and Gregor Bühler (employment), as well as Stefan Luginbühl, Isabelle Cordey (all corporate / m&a), Alexander Wherlock and Sarah Fasel (both regulatory and financial market regulation).