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
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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.
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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
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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