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HomeFinancial SolutionsUBS buys Credit score Suisse in all-share transaction

UBS buys Credit score Suisse in all-share transaction

An indication on the roof of a UBS Group AG financial institution department in Geneva, Switzerland, on Monday, July 25, 2022. UBS report second-quarter earnings on July 26. Photographer: Jose Cendon/Bloomberg

Jose Cendon/Bloomberg

UBS Group AG agreed to purchase Credit score Suisse Group AG in a government-brokered deal geared toward containing a disaster of confidence that threatened to unfold throughout international monetary markets.

Below the phrases of the all-share transaction, Credit score Suisse shareholders will obtain 1 UBS share for each 22.48 Credit score Suisse shares held, equal to CHF0.76/share for a complete consideration of CHF3 billion, UBS stated in an announcement on Sunday. The deal will create a worldwide wealth supervisor with $5 trillion of invested belongings throughout the group.

Each banks have unrestricted entry to the Swiss Nationwide Financial institution current amenities, via which they will acquire liquidity from the SNB in accordance with the rules on financial coverage devices.

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