Photo courtesy of UBS

UBS to finalise Credit Suisse acquisition by 12 June

After the acquisition, Credit Suisse and American Depositary Shares will be removed from SIX and NYSE.

UBS anticipates finishing the acquisition of Credit Suisse on or before 12 June this year. 

This will involve merging Credit Suisse Group AG into UBS Group AG. The completion depends on the registration statement, which includes the shares to be delivered, declared effective by the US Securities and Exchange Commission. 

Additionally, UBS needs to fulfil or waive other remaining closing conditions.

After the completion of the acquisition, Credit Suisse shares and American Depositary Shares (ADS) will be removed from the SIX Swiss Exchange (SIX) and the New York Stock Exchange (NYSE). 

ALSO READ: UBS appoints new CFO following Credit Suisse’s takeover

Shareholders of Credit Suisse will obtain one UBS share for every 22.48 outstanding shares they hold. Please note that certain fees may be associated with the exchange of Credit Suisse ADS.

Furthermore, the existing debt securities of Credit Suisse Group AG will become the responsibility of UBS Group AG. 

Detailed information regarding specific securities will be provided in investor notices distributed by the relevant stock exchanges, including the Official Notices page of SIX Swiss Exchange and, for specific notes, the Depository Trust Company (DTC).

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