Safra today announced the successful closing of its previously announced
acquisition of Rabobank's stake in Bank Sarasin & Co. Ltd. As a result of the
closing, Safra now holds 50.15% of the share capital and 71.01% of the voting
rights of Bank Sarasin.
Joseph Y. Safra stated: "We are proud to have completed this transaction
and be the majority owners of Bank Sarasin. Sarasin is a highly regarded
banking organization, led by a strong and knowledgeable management team. It has
a deservedly loyal client base, underscoring the expertise of the entire
Sarasin organization and embodied in the success of the Sarasin brand. All of
these elements are essential to our interest in, and confidence about, Sarasin.
We also thank Rabobank for their constructive support since we announced our
transaction last November."
The closing follows the transaction obtaining all appropriate competition
and regulatory approvals in the applicable jurisdictions.
For further information:
Kekst and Company
Robert Siegfried, (+1) 212-521-4832 / (+1) 917-842-1126 |
Jeremy Fielding, (+1) 212-521-4858 / (+1) 646-644-4825 |
Mark Semer, (+1) 212-521-4802 / (+1) 917-439-3507 |
The Safra Group is a highly regarded name in global private banking with a
successful long standing history. Safra banks include Banco Safra, Banque J.
Safra (Suisse), Banque J. Safra (Monaco), Banque Safra Luxembourg, Bank J.
Safra (Gibraltar), Safra National Bank of New York and Safra International Bank
and Trust, all built on strong financial foundations. As of December 2011, the
Safra Group had aggregate stockholder equity of approximately USD 12 billion
and total assets under management of USD 101 billion. The Safra banks are in
125 locations worldwide, and have over 6,300 employees.
SOURCE: Safra Group