Banque Havilland Negotiations

Banque Havilland (Monaco) SAM has announced that its parent company has entered on 25 July 2024 into exclusive negotiations with a private bank well established in Monaco, for the acquisition of its shares. It said that the purpose of this negotiation is to secure a long-term and sustainable solution to ensure the continuity and excellence of its banking services. Without disclosing the name of the counterpart, the Management of the Bank stated that the “the transaction, with an independent private bank with one of the highest solvency ratios in the industry with excellent track record in Monaco, would be perfectly in line with the Bank's development strategy. The parties will continue their collaboration with a signing expected by the end of 2024. This transaction is subject to approval by relevant regulatory authorities.