euro adhoc: Bank Sarasin + Cie AG
Mergers - Acquisitions - Takeovers /
Rabobank holds the voting majority in Bank Sarasin & Co. Ltd
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
12.04.2007
Basel/Utrecht, 12 April 2007
After Rabobank - the triple-A rated Dutch financial services group - at the end of 2006 exercised its option to purchase all the shares in Eichbaum Holding Ltd - a holding company owning a majority interest in Bank Sarasin & Co. Ltd. - the share purchase has been formally closed on 11 April 2007. As expected, all the preconditions have been met and the necessary decisions and approvals obtained from the relevant authorities. Rabobank now owns 46.06% of the share capital and holds 68.63% of the voting rights, making it majority shareholder in Bank Sarasin & Co. Ltd. Bank Sarasin retains its operational independence as a leading Swiss private bank and keeps its public listing on the Swiss Stock Exchange, SWX.
Bert Heemskerk, CEO of Rabobank Group: "Rabobanks increased participation provides extra impetus to the growth strategy that Bank Sarasin is committed to. It also means all conditions are in place to step up cooperation between the two banks in selected areas, especially international markets."
Joachim H. Straehle, CEO of Bank Sarasin & Co. Ltd: "Now that the share purchase has been completed as expected, we can concentrate fully on implement-ing our growth strategy, with the backing of our new majority shareholder, the triple-A rated Rabo-bank."
For more information please contact:
Bank Sarasin & Co. Ltd Benedikt Gratzl, Corporate Communications, Media Relations Telephone +41 (0)61 277 70 88 e-mail: benedikt.gratzl@sarasin.ch
Rabobank Group Jan-Willem ter Avest, Press office Telephone +31 (0)30 216 17 40 e-mail: J.W.Avest@rn.rabobank.nl
Bank Sarasin & Co. Ltd - Responsibly yours - www.sarasin.com Founded in 1841, Bank Sarasin is today one of Switzerlands leading private banking institutions. Its sustainable success is based on trust, confidentiality, expertise and dedication. Bank Sarasins core activities include investment advisory and asset management services for private and institutional clients, as well as an investment funds business. Its complementary services extend to corporate finance and financial analysis. The Sarasin Group - headquartered in Basel, Switzerland - employs over 1,100 staff. In addition to its headquarters in Basel, the Bank has offices in Zurich, Geneva and Lugano in Switzerland. Internationally, the Sarasin Group has offices in Dubai, Guernsey, Hong Kong, London, Luxembourg, Munich, Paris and Singapore. Bank Sarasin is a limited company. Its shares are listed on the Swiss Stock Exchange, SWX. Its majority shareholder, Rabobank, is the only bank in the world without a state guarantee to enjoy a triple-A rating. Rabobank is one of the world's top twenty financial institutions, measured by core capital.
Rabobank - www.rabobank.com Rabobank Group is a full-range financial services provider founded on cooperative principles. The Group is comprised of 187 independent local Rabobanks in the Netherlands, the central organisation Rabobank Nederland and a large number of specialised subsidiaries. The Groups core objective is to generate the highest possible customer value. To this end, the organisation offers its clients all the financial products and services they may want. Rabobank Group provides services to more than half of the Dutch population (16 million) and Dutch companies. In the Netherlands, Rabobank has dominant market positions in almost all financial services areas: home mortgages, savings, small and medium-sized businesses, and the food & agri sector. It has also significantly strengthened its position in the large corporate market. Throughout the world, Rabobank Group, through Rabobank International, focuses primary on financing the international food & agri business, a niche market in which it has a leading position. Rabobank Group has been awarded the highest credit rating (Triple A), and has 288 offices in 38 countries outside the Netherlands.
end of announcement euro adhoc 12.04.2007 07:00:00
Further inquiry note:
Dr. Benedikt Gratzl
Head Corporate Communications
T.: +41(61) 277 70 88
Benedikt.Gratzl@sarasin.ch
Branche: Banking
ISIN: CH0002267737
WKN: 872869
Index: SPI
Börsen: SWX Swiss Exchange / regulated dealing