Dynamics Group AG
19.12.2023 - 07:15:04Cevian Capital announces a c. EUR 1.2 billion investment (c. 1.3% ownership) in UBS Group AG
| Dynamics Group AG / Key word(s): Investment 19.12.2023 / 07:15 CET/CEST FOR IMMEDIATE RELEASE Press release December 19, 2023 Cevian Capital announces a c. EUR 1.2 billion[1] investment (c. 1.3% ownership[2]) in UBS Group AG Cevian Capital II Master Fund L.P., Cevian Capital Partners Limited and Cevian Capital II Co-Investment Fund L.P. today announce a holding in UBS Group AG corresponding to c. 1.3% of the total number of shares issued. Cevian Capital Managing Partner and co-founder Lars Förberg comments: “Cevian sees significant value potential in UBS. The board and management team are doing an excellent job integrating Credit Suisse and we have been impressed by their commitment to further improve UBS. Strengthened by the acquisition, UBS is the largest global wealth manager with unique market positions and financial strength. If the valuation gap to Morgan Stanley at 2x price to tangible book is closed, the UBS share is worth CHF 50.” Media contacts: Headland Consultancy Rob Walker +44 77 919 589 22 cevian@headlandconsultancy.com Dynamics Group Edwin van der Geest +41 43 268 32 30 vdg@dynamicsgroup.com [1] Based on a UBS Group AG share price of CHF 25.35 and a CHF/EUR rate of 1.05 as per December 18, 2023. Equivalent to c. CHF 1.1 billion and c. USD 1.3 billion (based on a CHF/USD rate of 1.15 as per December 18, 2023). [2] Refers to 43,787,401 shares. End of Media Release |
