UBS looks to wrap up Credit Suisse acquisition as early as June 12

By Marisa Wong

Los Angeles, June 5 – UBS Group AG expects to complete its acquisition of Credit Suisse Group AG as early as June 12, according to a news release and 6-K filed by UBS AG with the Securities and Exchange Commission.

At that time, Credit Suisse would be merged into UBS, with UBS assuming all Credit Suisse assets and liabilities.

Completion is subject to the registration statement, which covers shares to be delivered, being declared effective by the SEC and to satisfaction, or waiver by UBS, of other remaining closing conditions.

Upon completion, Credit Suisse shares and American Depositary Shares will be delisted from the SIX Swiss Exchange and the New York Stock Exchange.

Credit Suisse shareholders will receive one UBS share for every 22.48 outstanding shares held. The exchange of Credit Suisse ADS may be subject to certain fees.

Credit Suisse’s obligations under its outstanding debt securities will become obligations of UBS.

Additional information on the specific issues of securities will be contained in investor notices that will be distributed in due course by the relevant stock exchanges and, for certain notes, the Depository Trust Co.

UBS is an investment banking company based in Zurich and Basel, Switzerland.

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