Liechtensteinische Landesbank Intends to Fully Acquire its 75% Subsidiary Bank Linth

Liechtensteinische Landesbank  (LLB) intends to increase the shareholding in its subsidiary Bank Linth LLB  (Bank Linth) to 100%.

For this purpose, LLB has published on 27 January 2022 the pre-announcement for a public takeover offer to acquire the approximately 25% of Bank Linth held by the public. LLB offers the shareholders of Bank Linth the free choice between a partial ex-change offer with a cash component or a full cash settlement. The State of Liechtenstein as the majority shareholder of LLB, represented by the government, will provide LLB with a maximum of 1.25 million LLB shares (corresponding to 4.1 per-cent of the shares of LLB) for the partial exchange offer.

In view of the launch of the tender offer, LLB has entered into a transaction agreement with Bank Linth and a share purchase rights agreement with the State of Liechtenstein on 26 January 2022.

Bär & Karrer is acting as legal advisor to LLB in this transaction. The team consists of Dieter Dubs (Public M&A/Listed Companies), Peter Hsu and Cédric Chapuis (both Banking), Lukas Roesler (Capital Markets) and Sarah Vettiger (Banking/Corporate Law).