25 05 2016

BSI SA sells its 49% stake in B-Source SA

BSI SA, a Swiss private bank with headquarters in Lugano sold its 49% stake in B-Source SA, a BPO provider headquartered in Bioggio, to Avaloq AG, a financial services and banking software provider headquartered in Zurich, for an undisclosed consideration.


B-Source SA is soon to be renamed Avaloq Sourcing Switzerland SA. In 2011 BSI sold 51% of B-Source to Avaloq Group, in line with its strategic decision to focus on its core Private Banking business. The contract of 2011 between BSI and Avaloq Group included an option for the acquisition of the remaining BSI stake. BSI SA was advised by Lenz & Staehelin in this transaction with a teamled by  Hans-Jakob Diem (Partner, in picture) and Harold Frey (Partner), assisted by and Nicolas Jacquemart (Associate). Involved fees earner: Hans-Jakob Diem - Lenz & Staehelin; Harold Frey - Lenz & Staehelin; Nicolas Jacquemart - Lenz & Staehelin;

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