LLB Group sells Jura Trust AG Vaduz, 18 October 2013. The LLB Group and the
Chairman of the Management Board of Jura Trust AG have signed a contract of
sale for Jura Trust AG. The Chairman of the Management Board of Jura Trust AG
will take over the equity stake held by the LLB Group as part of a management
buy-out. Thanks to the sale, which should be concluded by the end of 2013, the
LLB Group will be able to further advance the focus on its core business. All
jobs at Jura Trust AG will be preserved.
As part of its new strategy «Focus2015», the LLB Group is concentrating on
clearly defined markets and client segments. As a consequence, one of the LLB
Group's announcements in March 2013 was that it would sell its trust business,
Jura Trust AG.
Milestone in implementation of the strategy
"The sale marks another important milestone in the implementation of our
strategic initiatives," says Roland Matt, CEO of the LLB Group. It should be
especially emphasized in this connection that the sale to the Chairman of the
Management Board of Jura Trust AG fully safeguards the interests of both
clients and employees. "All 25 jobs will be preserved, and the clients will
continue to be taken care of in the accustomed form. For these reasons, the
achieved result represents an optimal solution for everyone involved," says
Urs Müller, Head of Institutional Clients at the LLB Group.
The sale should be concluded by the end of 2013. The contracting parties
agreed to maintain confidentiality about the selling price. The
deconsolidation of the company will impact the result of the LLB Group in 2013
in the amount of about CHF 8 million.
*Tuesday, 25 March 2014, 2013 annual results
*Friday, 9 May 2014, 22nd General Meeting of Shareholders
The Liechtensteinische Landesbank AG (LLB) is the longest established
financial institute in the Principality of Liechtenstein. The Principality of
Liechtenstein holds the majority of the company's share capital. The LLB's
shares are listed on the SIX Swiss Exchange (symbol: LLB). The LLB Group
offers its clients comprehensive wealth management services, as a universal
bank, in private banking, asset management, fund services and trust services.
With around 1'000 employees, the LLB is represented in Liechtenstein,
Switzerland, Austria, and the United Arab Emirates (Abu Dhabi and Dubai). As
per 30 June 2013 the LLB Group managed client assets totalling CHF 50.5
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