Alantra acts as Fairness Opinion provider to Bank Linth on the public tender offer by Liechtensteinische Landesbank

Feb 2022

Fairness opinion

Zurich – Alantra, the global investment banking and asset management specialist, is pleased to announce that it has advised Bank Linth’s independent committee of the Board of Directors as Fairness Opinion provider on the public tender offer by Liechtensteinische Landesbank («LLB»).

Bank Linth, listed on the SIX Swiss Exchange with a market cap of c.CHF 400m (pre-offer), is a Swiss retail bank and one of the largest regional banks in the eastern part of Switzerland, offering the full range of retail banking services to private and corporate clients. In 2007, LLB, itself listed on the SIX Swiss Exchange, acquired a c.75% stake in Bank Linth.

On 27 January 2021, LLB announced its intentions of a full takeover and subsequent delisting of Bank Linth to reduce the complexity and costs of two listed banks within the same group and to fully exploit the synergies and growth potential of the combined companies. The envisaged transaction is part of LLB’s new strategy focussing on growth, efficiency and sustainability and reaffirms LLB’s commitment to Switzerland and Bank Linth as key pillar.

In this context, Alantra was mandated by Bank Linth’s independent committee of the Board of Directors to provide the Fairness Opinion assessing the financial adequacy and fairness of LLB’s public tender offer to the shareholders, consisting of either a cash payment or a partial exchange offer into LLB shares with a cash component.

Martin Menzi, Managing Partner at Alantra, commented: “We are delighted to have supported Bank Linth’s independent committee of the Board of Directors on this strategic transaction. Our contribution to the transaction is a testimonial of Alantra’s expertise in financial services, closely following our previous achievements in this sector in context of public as well as private M&A transactions.”