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2014-05-16

Valartis Group AG : Valartis Group sells Valartis Bank AG, Switzerland to Banque Cramer & Cie SA

Valartis Group AG / Valartis Group sells Valartis Bank AG, Switzerland to
Banque Cramer&Cie SA . Processed and transmitted by NASDAQ OMX Corporate
Solutions.The issuer is solely responsible for the content of this
announcement.
Banque Cramer&Cie SA, a 100% subsidiary of Norinvest Holding SA, has agreed to
fully acquire Valartis Bank AG, Switzerland, and Valartis Wealth Management
SA, Switzerland. Both companies are subsidiaries of Valartis Group AG.
Through these acquisitions, Banque Cramer&Cie SA will increase its client
assets under management to an amount of CHF 4.8 billion. In addition,
Valartis Group AG has agreed to take a stake of approximately 25% in
Norinvest Holding SA.

Valartis Bank AG and Valartis Wealth Management SA will be fully acquired by
Banque Cramer&Cie SA. The acquisition will be paid in cash.

Valartis Group as a significant shareholder of Norinvest Holding SA will be
granted one seat in the Board of Directors of Norinvest Holding SA and one
seat in the Board of Directors of Banque Cramer&Cie SA.

Both companies, Valartis Group AG and Norinvest Holding SA, are listed on the
SIX Swiss Exchange.

The transaction has been signed subject to the approval of the Swiss Financial
Market Supervisory Authority (FINMA) and is expected to be completed in the
second half of 2014.

Subsequent merger of Valartis Bank AG into Banque Cramer&Cie SA

Subsequent to the transaction both banks will be merged in order to pool
resources in the international sector of private banking for wealthy private
and institutional clients. Both banks' private banking philosophy and
strategy as well as their expertise and experience are ideally complementing
each other. Their respective forward looking and future-oriented private
banking approach is based on traditional private banking. Discretion, trust,
and reliability as well as a sound and sustainable management will be
respected values of the combined entities.

Banque Cramer&Cie SA

Based in Geneva and with offices in Lugano and Lausanne as well as an
affiliated bank in Nassau, Banque Cramer&Cie SA, a wholly owned subsidiary of
Geneva-based Norinvest Holding SA, is a private Swiss bank specialised in
wealth management. Banque Cramer employs 80 employees and manages client
assets in the amount of CHF 2.8 billion as per year end 2013. Total
consolidated assets of Banque Cramer amounted to CHF 874 million as per 31
December 2013.

Marco J. Netzer, Chairman of the Board, Banque Cramer&Cie SA: "The integration
of Valartis Bank into Banque Cramer constitutes another very important
strategic step for us. It will allow Banque Cramer to further strengthen and
expand its wealth management business and to create added value for its
clients. Additionally, this step gives us a strong presence in the Zurich
financial market place. Banque Cramer and Valartis Bank complement each other
optimally."

Valartis Bank AG, Switzerland

Valartis Bank AG and Valartis Wealth Management SA, Switzerland, are wholly
owned subsidiaries of Valartis Group AG and have offices in Zurich, Geneva
and Lugano and employ 60 people managing client assets of CHF 2 billion as
per year end 2013. Total assets of Valartis Bank AG amounted to CHF 885
million as per 31 December 2013.

Gustav Stenbolt, Group CEO of Valartis Group AG: "The Board of Directors and
Group Management of Valartis Group very much welcome this solution. We are
confident that we have found with Banque Cramer an optimal partner for our
Swiss Bank. It has been very important for us to find a private banking
partner with a sound background, a professional management as well as a
similar corporate culture. Comparable values would give our Swiss Bank the
opportunity to contribute its potential in the long term.

Valartis Group will further focus its strategy on the business units Private
Banking and Wealth Management of its banks in Liechtenstein and Austria.
These units manage client assets in the amount of CHF 6 billion. With a
minority stake in Norinvest Holding SA Valartis Group AG will continue to
participate in the Swiss wealth management market. The Board and the Group
Management are confident that a merger of these two banks will be the basis
for a strong platform and future growth."

The management of Valartis Bank and of Banque Cramer will develop a detailed
integration plan over the next weeks. Banque Cramer will evaluate the new
organisation and its structures and processes and optimise them.

The Zurich location of Valartis Bank AG, Switzerland, will remain as a new
location for Banque Cramer. The activities of Valartis Bank AG in Geneva and
Lugano will be integrated into the existing locations of Banque Cramer.

For further information please contact:

Norinvest Holdings SA and Banque Cramer Cie SA

Massimo Esposito-Sporrer, Chairman of the Board, Norinvest Holding SA, Tel.
+41 58 218 60 84

e-mail:massimo.esposito@banquecramer.ch
Marco Netzer, Chairman of the Board, Banque Cramer&Cie SA, Tel. +41 58 218 68
66

e-mail:marco.netzer@banquecramer.ch

Valartis Group

Gustav Stenbolt, Group CEO, Tel. +41 22 716 10 00

e-mail:g.stenbolt@valartis.ch

Kim-My Schefer, Head Corporate Communications, Tel. +41 43 336 82 94
e-mail:corporate.communications@valartis.ch

Press release (PDF)
http://hugin.info/143135/R/1786657/613212.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Valartis Group AG via Globenewswire

HUG#1786657

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