EFG International to Pay Less for BSI
EFG International has indicated that it will pay less to acquire BSI after clients pull assets out from the private bank in recent months. As a result of the BSI’s asset outflows, EFG is estimated to pay 140 million francs less for the acquisition.
The deal price is linked to BSI’s success in winning new money as well as its book value.
News Source: Finews Asia
European Financial Group International (SIX:EFGN) is a multinational Swiss private banking group offering private banking and asset management services. It was formed in 1995 by Jean Pierre Cuoni and Lawrence D. Howell, and five others. The genesis of the bank was by the acquisitions of both the right to operate from the Zurich office of Banque de Deposits and the Swiss operations of the Royal bank of Scotland.
- Origin : Zurich, Switzerland
- Assets : CHF 26.8 billion
- Revenue : CHF 696.7 million
- Employees : 2,600
Official Website: www.efginternational.com
News & Media: Press Release