35 Non-current assets held for sale

swisspartners Investment Network AG, in which Liechtensteinische Landesbank AG holds a 70.6-percent equity stake, is an independent, Swiss asset manager. As far back as the end of 2011, the management of the LLB Group had decided to sell this equity stake. The sale of this participation is an expression of the LLB Group’s focus on its core business. A securities purchase agreement was signed by the buyers in spring 2012. The sale has been delayed due to events and circumstances beyond the control of the LLB Group. Management and the buyers are still committed to the sale of the participation. It is expected that the sale will go through in the middle of 2013. As per 31 December 2012, the assets and liabilities of swisspartners Investment Network AG are classified as «Non-current assets held for sale» and are recognised as such in the 2012 financial statement of the LLB Group.

(XLS:)

in CHF thousands

31.12.2012

31.12.2011

Assets

 

 

Due from banks

125'920

176'360

Financial investments at fair value through profit and loss

1'099'418

1'132'363

Other assets

59'155

164'578

Total assets

1'284'493

1'473'301

 

 

 

Liabilities

 

 

Liabilities from insurance contracts

16'719

50'056

Financial liabilites at fair value through profit and loss

1'187'951

1'253'858

Other liabilities

53'814

134'322

Total liabilities

1'258'484

1'438'236

top of page