Credit Suisse Group AG (Credit Suisse) and UBS Group AG (UBS) announced today that the two companies expect the acquisition announced on March 19, 2023, to be consummated as early as June 12, 2023. Upon consummation of the acquisition, UBS will be the surviving entity, and Credit Suisse’s shares and American Depositary Shares (ADS) will be delisted from the SIX Swiss Exchange (SIX) and New York Stock Exchange (NYSE), respectively.
Unless otherwise mandated by the NYSE or the SIX, respectively, if the acquisition is consummated before the opening of trading in the US on June 12, 2023, the delisting on the NYSE will occur on June 12, 2023, and the delisting on the SIX will occur on June 13, 2023. If the acquisition is consummated after the opening of trading in the US on June 12, 2023, the delisting on the NYSE and the SIX will both occur on June 13, 2023.
Completion of the acquisition is subject to the registration statement of UBS which covers shares to be delivered to Credit Suisse shareholders being declared effective by the Securities and Exchange Commission and to satisfaction, or waiver by UBS, of other remaining closing conditions.
