October 3, 2017 / 6:31 AM / in 19 days

J. Safra Sarasin to buy Hapoalim's Swiss/Luxembourg business

ZURICH (Reuters) - Swiss private bank J. Safra Sarasin Group has agreed to buy Bank Hapoalim’s (POLI.TA) private banking businesses in Luxembourg and Switzerland, with offices in Zurich and Luxembourg, the Swiss group said on Tuesday.

“The agreement covers qualifying clients and their relationship management teams who are focused on private banking clients across Israel and Europe,” it added in a statement. It gave no purchase price for the deal, which it said was set to wrap up in the first half of 2018 pending regulatory approval.

Reporting by Michael Shields

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