Brazil's Safra Takes Majority Stake in Swiss Bank

Brazil's Safra Takes Majority Stake in Swiss Bank

Bonds Funds Brazil Europe M&A

Brazil’s Safra Group agreed to acquire from Rabobank a majority position in Switzerland’s Bank Sarasin. Safra does not disclose the total value or the number of shares involved, but says it acquires a 46.07% equity interest and 68.63% of the voting rights, paying an all-cash price of CHF7.20 for class A shares and CHF36.00 for class B shares. Sarasin’s total shareholder equity stands at CHF1.2bn ($1.3bn) as of 1H2011, according to bank documents. Safra officials declined to give any additional s

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial