Credit Suisse Shares to be Delisted Following UBS Acquisition

Credit Suisse Shares to be Delisted Following UBS Acquisition

Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules

(IN BRIEF) UBS Group AG has announced its acquisition of Credit Suisse Group AG in a deal that is expected to be completed by June 12, 2023. Under the agreement, Credit Suisse shareholders will receive one UBS share for every 22.48 outstanding shares held. After the acquisition, Credit Suisse shares and American Depositary Shares (ADS) will be delisted from the SIX Swiss Exchange and the New York Stock Exchange. UBS Group AG will assume all of Credit Suisse Group AG’s assets and liabilities, including its outstanding debt securities. The completion of the acquisition is subject to regulatory approval and other closing conditions.

(PRESS RELEASE) ZÜRICH, 5-Jun-2023 — /EuropaWire/ — UBS Group AG (SWX: UBSG), a multinational investment bank and financial services company founded and based in Switzerland, is pleased to announce that it has reached an agreement to acquire Credit Suisse Group AG (NYSE: CS) in a landmark deal that will further strengthen UBS’s position in the global financial services industry. The acquisition is expected to be completed as early as June 12, 2023, pending the registration statement’s effectiveness by the US Securities and Exchange Commission and the satisfaction of other closing conditions.

Under the terms of the agreement, Credit Suisse shareholders will receive one UBS share for every 22.48 outstanding shares held. This exchange ratio ensures a fair and equitable distribution of UBS shares to Credit Suisse shareholders, reflecting the respective values of both companies. The exchange of Credit Suisse American Depositary Shares (ADS) will also follow the same exchange ratio, subject to potential fees.

Upon completion of the acquisition, Credit Suisse Group AG will be merged into UBS Group AG. As a result, Credit Suisse shares and ADS will be delisted from the SIX Swiss Exchange (SIX) and the New York Stock Exchange (NYSE). Shareholders are advised to review the investor notices that will be distributed by the relevant stock exchanges, including the Official Notices page of SIX Swiss Exchange and, for certain notes, the Depository Trust Company (DTC), for additional information on the delisting process.

Furthermore, UBS Group AG will assume all of Credit Suisse Group AG’s assets and liabilities, including its outstanding debt securities. This will provide a seamless transition for Credit Suisse’s debt holders, as their obligations will now be upheld by UBS Group AG.

“We are excited about the completion of this acquisition and the prospects it brings for both UBS and Credit Suisse shareholders,” said the CEO of UBS Group AG. “This strategic move aligns with our long-term vision and will further enhance our ability to deliver exceptional value and innovative solutions to our clients worldwide.”

UBS Group AG remains committed to its core values of integrity, trust, and excellence in serving its clients, and this acquisition marks another significant milestone in the company’s ongoing growth and development.

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SOURCE: UBS Group AG