Tous Actualités
Suivre
Abonner Bank J. Safra Sarasin AG

Bank J. Safra Sarasin AG

EANS-Adhoc: Bank Sarasin & Co. Ltd plans to acquire majority stake in NZB Holding

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
Basel - Bank Sarasin & Co. Ltd intends to acquire the majority stake in NZB 
Holding domiciled in Zurich, subject to due diligence and also the 
approval of the relevant authorities and the existing NZB 
shareholders. In 2007 Bank Sarasin sold its Swiss brokerage business 
to NZB Neue Zuercher Bank AG, and since then has owned a 40% stake in
NZB Neue Zuercher Bank AG through NZB Holding. Both parties have 
agreed not to disclose the purchase price.
Following a decision to focus on its core business as a private bank,
Bank Sarasin & Co. Ltd sold parts of its brokerage activities to NZB 
Neue Zuercher Bank on 15 February 2007. After this transaction, 
Sarasin held a 40% financial stake in the existing share capital of 
NZB Holding domiciled in Zurich. Bank Sarasin´s participation in NZB 
Holding was purely of a financial nature. Both banks operated 
completely separately from one another. NZB Neue Zuercher Bank has 
worked with Bank Sarasin as a preferred partner for brokerage 
services.
The planned acquisition of the majority stake in NZB Holding (likely 
to be in the region of 51% to 60%) was in response to personnel 
changes in NZB and the latest decisions by the Swiss regulator FINMA 
in connection with the investigations in the Sulzer affair. The 
purpose of the acquisition is to boost the confidence of staff and 
clients in NZB. Bank Sarasin plans to focus the business activity of 
NZB Neue Zuercher Bank consistently on its brokerage operations. NZB 
will withdraw from the private banking business.

Further inquiry note:

Benedikt Gratzl
Head of Corporate Communications
Tel +41 61 277 70 88
annette.kuhnert@sarasin.ch

Branche: Banking
ISIN: CH0002267737
WKN: 872869
Index: SPI
Börsen: SIX Swiss Exchange / regulated dealing

Plus de actualités: Bank J. Safra Sarasin AG
Plus de actualités: Bank J. Safra Sarasin AG