UBS to buy Credit Suisse in USD 3.3bn deal to end crisis

UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets.

Chairman of the Board of Directors of UBS, Colm Kelleher and Chairman of the Board of Directors of Credit Suisse, Axel Lehmann attend a news conference on Credit Suisse after UBS takeover offer, in Bern, Switzerland, March 19, 2023. | Photo: Denis Balibouse/Reuters/Ritzau Scanpix

By Marion Halftermeyer, Eyk Henning, Jan-Henrik Förster and Dinesh Nair / Bloomberg

The Swiss bank is paying CHF 3bn (USD 3.2bn) for its rival in an all-share deal that includes extensive government guarantees and liquidity provisions. The price per share marked a 99% decline from Credit Suisse’s peak in 2007.

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UBS to buy Credit Suisse in USD 3.3bn deal to end crisis

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Front page now

Nordic Alpha Partners reels in international investment giants for second fund

Norwegians are investing record amounts in funds

World's best EMD team still waiting for clients to return to Danske AM

Storeband increases stake in Danish infrastructure manager to become majority owner

Nordic institutional investors still see potential in beleaguered Swedish battery producer

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New Nordic high yield manager keeps attracting inflows

KLP excludes US construction supplier over Gaza connection

Swedish FSA fines church pension fund for failing to limit investment risks

Danish pension fund drops drilling platform investments

Expansion of Nordic team has paid off: Inflows to all core products for US manager

Further reading

World's best EMD team still waiting for clients to return to Danske AM

Invesco seeing increased demand for Fixed income ETFs from Nordic investors

Storeband increases stake in Danish infrastructure manager to become majority owner

Nordic institutional investors still see potential in beleaguered Swedish battery producer

New Nordic high yield manager keeps attracting inflows

Expansion of Nordic team has paid off: Inflows to all core products for US manager