EANS-Adhoc: Bank Sarasin + Cie AG
FINMA approves the purchase by Safra Group
of Rabobank's majority interest in Bank Sarasin; new composition of the Board of
Directors
22.06.2012 – 18:03
-------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- Company Information 22.06.2012 FINMA, the Swiss financial market supervisory authority, has approved the acquisition by the Safra Group of Rabobank's majority interest in Bank Sarasin. The transaction is expected to close by the end of July 2012, pending remaining approvals by some international regulatory bodies. The Safra Group expects the new Board of Directors of Bank Sarasin & Co. Ltd to be composed of Mrs. Dagmar G. Woehrl, Messrs. Pierre-Alain Bracher, Philippe Dupont, Hans-Rudolf Hufschmid, Sergio Penchas, Jacob J. Safra, Sipko N. Schat and Marcelo Szerman. Jacob Safra, Vice-Chairman of J. Safra Holding AG, stated, "Safra is highly confident in Sarasin's long term potential, fully supports and has the highest regard for Sarasin's management and employees. Sarasin's business strategy, the Sarasin brand, and its successful relationships with clients are consistent with the Safra banking tradition and success." Joachim H. Straehle, CEO of Bank Sarasin & Co. Ltd, comments, "I am very happy about the FINMA approval. As majority shareholder, Safra Group will give us a strong capital base plus a firm commitment to our growth strategy and foresighted business model. This will reinforce our strong position as an independent Swiss private bank and our established Sarasin brand. With the completion of the transaction, we can look forward to an exciting future working with Safra and with our new Board." 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