Bank J. Safra Sarasin AG

euro adhoc: Bank Sarasin + Cie AG
Mergers - Acquisitions - Takeovers
The focus of Bank Sarasin is on its core business and growth strategy: Bank Sarasin sells part of its brokerage business to NZB Neue Zürcher Bank and takes a 20% stake in NZB Holdin

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Basel/Zurich, 22. January 2007

Bank Sarasin & Co. Ltd continues to focus on its core business as a private bank and, as a result, part of its brokerage activities is being sold to NZB Neue Zürcher Bank on 15 February, 2007. At the same time, Bank Sarasin is purchasing a 20% stake, and an option for a further 20% of the existing share capital of the Zurich domiciled NZB Holding. The transaction price is a closely guarded secret.

Under this agreement, both financial service providers are focusing more intensively on their respective core business and will benefit from the increase in efficiency as a result of synergies in the fields of Research and Trading.

The sale of the Swiss brokerage business (i.e. Sell-Side Research and the Sales business with institutional investors) will result in the loss of roughly 20 jobs at Bank Sarasin. A number of employees affected will be able to transfer to NZB, the remainder will be offered a socially acceptable package.

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ots Originaltext: Bank Sarasin + Cie AG
Im Internet recherchierbar:

Further inquiry note:
Bank Sarasin & Co. Ltd
Dr. Benedikt Gratzl, Corporate Communications, Media Relations
Telephone +41 (0)61 277 70 88 E-mail:

NZB Neue Zürcher Bank
Martin Eberhard, CEO
Telephone +41 (0)44 288 82 21 E-mail:

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

Weitere Meldungen: Bank J. Safra Sarasin AG

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