Credit Suisse takeover to cost UBS billions, faces business restrictions.
TL;DR Summary
UBS estimates a financial hit of about $17 billion from the takeover of Credit Suisse, including $13 billion from fair value adjustments and $4 billion in potential litigation and regulatory costs. However, UBS also estimated it would book a one-off gain of $34.8 billion by buying Credit Suisse for a fraction of its book value. UBS said the estimates were preliminary and the numbers could change materially later on. The bank also said it might book restructuring provisions after that, but offered no numbers.
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- UBS flags $22.8 billion hit from Credit Suisse takeover The Straits Times
- Credit Suisse faces restrictions on business till deal closure Reuters
- Credit Suisse Managing Director Says Bank Actively Seeking ESG Debt Deals Bloomberg
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