GAM has agreed to sell its loss-making third-party fund management services(FMS) businesses in Luxembourg and Switzerland to Carne Group.
The purchase price is €2.25 million for the Luxemburg business and CHF 0.5 million for the Swiss business.
In addition, CHF 12.1 million of regulatory capital will be released and retained by GAM, resulting in a total benefit of approximately CHF 15 million to GAM.
This valuation reflects the reduced assets unde...
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