Julius Baer: raises stake in Italian Kairos IM to 100%
(CercleFinance.com) - Julius Baer, the Swiss asset manager, will increase its stake in the capital of Italian asset manager Kairos Investment Management (IM) to 100%.
The group initially acquired 19.9% of Kairos IM in 2013 before raising its shareholding to 80% in 2016. The remaining 20% will be acquired for 96 million euros, subject to adjustments at the transaction's closing.
Already CEO of Kairos IM, its founder Paolo Basilico will also take over as chairman. The company will keep its identity, being well-known and reputed on the Italian market.
Between 2013 and today, Kairos IM's assets under management increased from around 4 billion to 11 billion euros. The company achieved "an excellent performance" in 2017, said Julius Baer.
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The group initially acquired 19.9% of Kairos IM in 2013 before raising its shareholding to 80% in 2016. The remaining 20% will be acquired for 96 million euros, subject to adjustments at the transaction's closing.
Already CEO of Kairos IM, its founder Paolo Basilico will also take over as chairman. The company will keep its identity, being well-known and reputed on the Italian market.
Between 2013 and today, Kairos IM's assets under management increased from around 4 billion to 11 billion euros. The company achieved "an excellent performance" in 2017, said Julius Baer.
Copyright (c) 2018 CercleFinance.com. All rights reserved.