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    BAER   CH0102484968

JULIUS BÄR GRUPPE AG

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Julius Bär Gruppe : Baer Group to sell Wergen & Partner Wealth Management Ltd in a management buyout

01/03/2022 | 01:09am EDT

As part of a review of its strategic participations, Julius Baer has decided to sell the Zurich-based Wergen & Partner Wealth Management Ltd, a member of the Group, to the management of Wergen & Partner. The parties have signed a corresponding agreement, according to which the transaction shall be completed in Q1 2022.

Zurich, 3 January 2022 - Julius Baer Group today announces that it has signed an agreement to sell all shares in Wergen & Partner Wealth Management Ltd to the management of the Zurich-based independent wealth manager. The transaction follows a review of the Group's strategic participations and the conclusion that Wergen & Partner Wealth Management Ltd can develop best under the ownership of the existing and future management team.

Julius Baer acquired Wergen & Partner Wealth Management Ltd in February 2017. The company, which has always been profitable, has since developed successfully under the unchanged leadership with assets under management doubling.

The current Wergen & Partner team of six people will continue to independently serve the clients of Wergen & Partner Wealth Management Ltd that are booked with various custodian banks. The transaction is due to be closed in Q1 2022.

The parties have agreed not to disclose the purchase price.

Disclaimer

Julius Bär Gruppe AG published this content on 03 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2022 06:08:02 UTC.


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Sales 2022 3 837 M 3 822 M 3 822 M
Net income 2022 1 047 M 1 043 M 1 043 M
Net Debt 2022 1 276 M 1 271 M 1 271 M
P/E ratio 2022 9,38x
Yield 2022 5,66%
Capitalization 9 867 M 9 829 M 9 829 M
EV / Sales 2022 2,90x
EV / Sales 2023 2,66x
Nbr of Employees 6 727
Free-Float 97,7%
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Number of Analysts 16
Last Close Price 47,27 CHF
Average target price 66,49 CHF
Spread / Average Target 40,7%
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Managers and Directors
Philipp Rickenbacher Chief Executive Officer
Dieter A. Enkelmann Chief Financial Officer
Romeo Lacher Non-Executive Chairman
Nic Dreckmann Chief Operating Officer & Head-Intermediaries
Yves Bonzon Chief Investment Officer
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