EFG to Pay Lesser for BSI
The purchase price of BSI is subjected to a final adjustment process in the Sale Purchase Agreement on 21st February 2016. The final valuation will be determined under this process.
“There is an expected downward price adjustment of CHF 277.5 million against estimated purchase price of CHF 1,060 million.”
EFG has submitted a formal valuation to BTG on 2nd February 2017, upon which there is an expected downward price adjustment of CHF 277.5 million against estimated purchase price of CHF 1,060 million announced on 1st November 2016.
News Source: EFG Press Release
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
Updated on 8th August 2016