On November 25, 2011, Bank Sarasin & Co. Ltd announced that Safra Group had entered into an agreement to acquire Rabobank Group’s majority stake in Sarasin in a cash deal.
On November 25, 2011, Bank Sarasin announced that Safra Group had entered into a purchase agreement under which it will acquire Rabobank Group’s majority shareholding in Bank Sarasin. Under the terms of the agreement Safra will acquire a 46.07% equity interest and 68.63% voting rights in Bank Sarasin at a price of CHF 7.20 per A registered share and CHF 36.00 per B registered share. Bank Sarasin’s board of directors has approved the transaction, which is subject to the approval of Swiss and other regulatory authorities. Safra Group is a global private bank with approximately $109 billion in assets under management. Sarasin is a Switzerland-based global private bank with approximately CHF 101.6 billion in assets under management.
To read the press release, please click here.