ANNUAL REPORT 2009 - GAM Holding AG

26 ACQUISITIONS
Purchase of Creinvest Ltd.
On 3 August 2009 Swiss & Global Asset Management Holding AG, then named JB Invest, obtained control of Creinvest Ltd. by acquiring 60%
of the shares and voting interests in the company. As a result, the Group’s equity interest in Creinvest Ltd. increased from 40% to 100%.
Creinvest Ltd. was merged with its parent immediately after the acquisition. The consideration paid amounted to CHF 125 million.
The following summarises the major classes of consideration transferred, and the recognised amount of assets acquired and liabilities assumed
at the acquisition date:
Assets
STEP-UP
BOOK VALUE TO FAIR VALUE FAIR VALUE
CHF M CHF M CHF M
Due from banks 54 - 54
Financial investments available-for-sale 24 47 71
Total 78 47 125
Liabilities and equity
Equity 78 47 125
Total 78 47 125
Purchase of Augustus Asset Managers Ltd
On 29 May 2009, Julius Baer Holding Ltd. reacquired the shares of Augustus Asset Managers Ltd. At the time of the original disposal in
January 2007, as part of a management buyout, the shares of Augustus Asset Managers Ltd. were not derecognised from Julius Baer Holding
Ltd.’s balance sheet, but were reclassified as financial investments available-for-sale. Due to the reacquisition, Augustus Asset Managers Ltd.
has been re-consolidated.
98 GAM Holding Ltd. Annual Report 2009