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
--------------------------------------------------------------------------------
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