UBS agrees to acquire Credit Suisse for $3.25bn

by | Mar 19, 2023

UBS agreed to acquire rival lender Credit Suisse for approximately $3.25bn in an all-share transaction.

As part of the deal, Switzerland’s central bank would make available a 100bn Swiss franc liquidity line to UBS.

Under the terms of the agreement, should UBS incur in more than 5bn Sfr in losses from Credit Suisse’s assets, the Swiss government would shoulder the next 9bn sfr in red ink with UBS taking any losses above that amount.

UBS chairman, Colm Kelleher, said that Credit Suisse’s investment bank would be shrunk, which might scupper plans for a spin-off of CS First Boston.

— More to follow —

AstraZeneca to buy Gracell Technologies for $1.2bn

Dec 27, 2023 | M&A

(Sharecast News) - AstraZeneca on Wednesday said it was buying Gracell Biotechnologies, a global clinical-stage biopharmaceutical company developing cell therapies for the treatment of cancer and autoimmune diseases, for $1.2bn. Under the terms of the deal,...

Swisscom weighing offer for Vodafone’s Italian business

Dec 21, 2023 | M&A

(Sharecast News) - Swiss telecommunications firm Swisscom has been mulling over an offer for Vodafone's Italian operations early next year, according to Bloomberg, potentially countering a rival bid from Iliad SA. The potential deal will see Vodafone's mobile service...

SSP expands into Canada, Saudi Arabia

Dec 14, 2023 | M&A

(Sharecast News) - International travel food and beverage outlet operator SSP Group on Thursday said it had expanded into Canada and Saudi Arabia as it pivots to high-growth markets. The company, which owns the Upper Crust and Ritazza brands, said it had bought...

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x

UBS agrees to acquire Credit Suisse for $3.25bn

Related articles

AstraZeneca to buy Gracell Technologies for $1.2bn

Swisscom weighing offer for Vodafone’s Italian business

SSP expands into Canada, Saudi Arabia

Trending stories

Join our mailing list