Schoenherr has advised Liechtensteinische Landesbank on the acquisition of Zuercher Kantonalbank Oesterreich with offices in Vienna and Salzburg. Binder Groesswang advised Zuercher Kantonalbank.
The transaction remains contingent on regulatory approval.
Alongside Liechtenstein and Switzerland, Austria is one of the LLB Group's three home markets. It operates in the wealth management business. Zuercher Kantonalbank is a universal bank in the Zurich economic area.
According to Schoenherr, “the acquisition of Zuercher Kantonalbank comprises client assets totaling around EUR 3.1 billion. In a second step, ZKB Austria is to merge with Liechtensteinische Landesbank AG.”
In 2018, Schoenherr advised Liechtensteinische Landesbank on its acquisition of Semper Constantia Privatbank (as reported by CEE Legal Matters on January 11, 2018).
The Schoenherr team included Partners Maximilian Lang, Christian Herbst, Peter Feyl, Volker Weiss, Teresa Waidmann, and Constantin Benes, Counsel Matthias Pressler, Attorney at Law Beatrix Schima, and Associate Markus Fasching.
The Binder Groesswang team included Partner Thomas Schirmer, Attorney at Law Felix Fuith, and Associate Christopher Marchel.
