Safra Group acquires majority interest in Bank SarasinOn November 25, 2011, Safra Group and Rabobank entered into a share purchase agreement under which Safra will acquire a majority shareholding (46.07% equity interest and 68.63% voting rights) in Bank Sarasin & Co. Ltd (SIX: BSAN) for 1.04 billion Swiss francs to be paid in cash. On November 25, 2011, Safra Group and Rabobank entered into a share purchase agreement under which Safra will acquire a majority shareholding (46.07% equity interest and 68.63% voting rights) in Bank Sarasin & Co. Ltd (SIX: BSAN) for 1.04 billion Swiss francs to be paid in cash. The transaction is subject to approval and clearance by the competent authorities in Switzerland and abroad. The deal is likely to be closed during the first half of 2012, and will be followed by a takeover offer to the public shareholders of Bank Sarasin. Bank Sarasin was advised as to Swiss law by Homburger. The Homburger team was led by partner Daniel Daeniker (Corporate | M&A and Financial Services) and included partner Ueli Huber (Employment), associates Daniel Hasler, Alexander Nikitine and Andrea Rüttimann (Corporate | M&A), Ansgar Schott (Financial Services), Stefan Oesterhelt (Tax), and junior associate Pierre-Yves Marro (Financial Services).  |
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