NewGAMe tender offer for GAM receives regulatory approval

Comes into effect early January 2024

Activist shareholder group NewGAMe has been granted regulatory approval of its tender offer, which will see it become the largest shareholder in GAM.

As a result, NewGAMe will hold a 27.1% stake in the Swiss asset manager. In a statement, GAM said it expects the tender offer to complete on 12 January 2024. GAM eyes alternatives expansion as losses set to increase NewGAMe is an entity controlled by NJJ Holding, of which recently appointed GAM board member Anthony Maarek is managing director. NJJ Holding is the personal holding company of Xavier Niel, who owns Rock Investment SAS, the French-incorporated entity which controls NewGAMe. NewGAMe became actively involved with GAM after the collapse of the latter's takeover deal ...