EANS-Adhoc: Bank Sarasin + Cie AG
Final approval for Safra Group's acquisition
of the majority stake in Bank Sarasin - Closing expected for 31 July 2012
30.07.2012 – 07:19
-------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- 30.07.2012 All the necessary approvals from supervisory authorities have now been obtained, clearing the way for the Safra Group to acquire the majority shareholding in Bank Sarasin & Co. Ltd previously held by Rabobank. The closing of the transaction is expected for 31 July 2012. Jacob J. Safra, Vice-Chairman of J. Safra Holding AG, comments: "We are delighted that all the necessary approvals have now been obtained. This clears the way for the closing of the transaction. We have confidence in the management team led by Joachim Straehle and the long-term potential of Sarasin's business strategy, and we appreciate the value of the Sarasin brand. Its strong business relationships with clients are very much in tune with Safra's own tradition and success in banking." Joachim H. Straehle, CEO of Bank Sarasin & Co. Ltd, adds: "Sarasin will stay the same. Our clients and employees can count on that in the future as well. The new composition of our shareholder structure strengthens our position as an independent Swiss private bank. Safra not only creates stability but allows us to continue to pursue our growth strategy, which is based on a long-term business model." Further inquiry note: Dr. Benedikt Gratzl Head of Corporate Communications T: +41(61) 277 70 88 Benedikt.Gratzl@sarasin.ch end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Bank Sarasin + Cie AG Elisabethenstrasse 62 CH-4002 Basel phone: +41 (61) 277 77 77 FAX: +41 (61) 272 02 05 mail: info@sarasin.ch WWW: www.sarasin.ch sector: Banking ISIN: CH0038389307 indexes: SPIEX, SPI ex SLI stockmarkets: official dealing/general standard: SIX Swiss Exchange language: English