J. Safra Sarasin Holding AG signed an agreement to acquire Bank Hapoalim (Switzerland) Ltd. from Bank Hapoalim B.M. (TASE:POLI) for an amount between ILS 98 million and ILS 120 million on October 3, 2017. The agreement covers qualifying clients and their relationship management teams who are focused on private banking clients across Israel and Europe. Following this transaction, Bank Hapoalim’s qualifying clients and relationship managers in Luxembourg and Switzerland will join J. Safra Sarasin. The agreement is subject to regulatory approvals and certain other conditions. The acquisition is expected to be completed during the first half of 2018. Homburger AG acted as legal advisor to Bank Hapoalim (Switzerland) Ltd. J. Safra Sarasin Holding AG completed the acquisition of Bank Hapoalim (Switzerland) Ltd. from Bank Hapoalim B.M. (TASE:POLI) on November 26, 2018.