{"id":21392,"date":"2023-06-12T04:36:52","date_gmt":"2023-06-12T08:36:52","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/ubs-says-its-takeover-of-credit-suisse-is-now-complete\/"},"modified":"2023-06-12T04:36:54","modified_gmt":"2023-06-12T08:36:54","slug":"ubs-says-its-takeover-of-credit-suisse-is-now-complete","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=21392","title":{"rendered":"UBS says its takeover of Credit Suisse is now complete"},"content":{"rendered":"
\n

UBS said Monday that it has finalized its takeover of Credit Suisse AG, ending a monthslong saga that saw the collapse of one of Switzerland\u2019s biggest financial institutions. <\/p>\n

The bank announced that completion in an open letter to Swiss, German-language daily\u00a0newspaper, NZZ and other international publications, describing the deal as \u201cthe beginning of a new, historic chapter.\u201d<\/p>\n

\n

UBS
\n UBS,
\n -0.30%<\/bg-quote><\/p>\n

UBSG,
\n +1.15%<\/bg-quote>
\n agreed to buy its rival for an initially announced 3 billion francs ($3.3 billion) after Credit Suisse
\n CS,
\n +0.99%<\/bg-quote>
\n \u00a0
\n CSGN,
\n +1.21%<\/bg-quote>
\n \u00a0was unable to stem outflows from its wealthy clients. <\/p>\n

UBS said Friday that it has signed a loss protection agreement with the Swiss government covering up to 9 billion francs ($10 billion) of losses once the takeover of Credit Suisse is completed.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

UBS said Monday that it has finalized its takeover of Credit Suisse AG, ending a monthslong saga that saw the collapse of one of Switzerland\u2019s biggest financial institutions. The bank announced that completion in an open letter to Swiss, German-language daily\u00a0newspaper, NZZ and other international publications, describing the deal as \u201cthe beginning of a new, […]<\/p>\n","protected":false},"author":1,"featured_media":21393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-21392","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nUBS says its takeover of Credit Suisse is now complete | iFintechWorld<\/title>\n<meta name=\"description\" content=\"UBS said Monday that it has finalized its takeover of Credit Suisse AG, ending a monthslong saga that saw the collapse of one of Switzerland\u2019s biggest\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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