April 22 (Reuters) – Swiss lender Zuercher Kantonalbank, identified regionally as ZKB, has held takeover talks with GAM Holding AG (GAMH.S), the Monetary Instances reported on Saturday, citing folks aware of the matter.
ZKB is considered one of a number of firms contemplating a purchase order of Zurich-headquartered asset supervisor GAM, the newspaper stated. London-listed Liontrust Asset Administration (LIO.L) stated earlier this week it was discussing a possible merger of its funding administration unit with GAM.
In an emailed assertion, ZKB declined to touch upon whether or not takeover talks had taken place with GAM, however stated the corporate was “continually analyzing alternatives inside its enterprise improvement technique”.
GAM, which has misplaced over 95% of its worth following a bond fund scandal in 2018, is now on the lookout for a purchaser.
It has delayed its 2022 outcomes presentation till April 25 to offer it extra time to organize an replace on a strategic assessment, which it is because of give on the identical day.
In keeping with the Monetary Instances report, Z Capital Group, a New York-based funding agency, can also be involved in shopping for GAM.
GAM and Z Capital didn’t instantly reply to requests for remark.
Reporting by Gokul Pisharody in Bengaluru; enhancing by Jason Neely
: .
