May 24, 2016 / 5:20 AM / 4 years ago

BRIEF-EFG International says fine in 1MDB case will result in reduction in BSI purchase price

May 24 (Reuters) - EFG International Ag

* Says receives approval from the Swiss financial market supervisory authority FINMA regarding the proposed acquisition of BSI

* Says transaction is on track and is expected to complete at the latest in the fourth quarter of 2016, as originally announced

* Says taken note of FINMA’s and MAS’ press releases in connection with the BSI related 1MDB matter

* Says share purchase agreement with BTG Pactual has an indemnity in relation to these and certain other matters up to the overall purchase price

* Says indemnity backed by material Swiss escrow account which, at closing, will contain 51.0m EFG shares issued to BTG as consideration, with shares locked up for 2 years

* Says the fine and the penalty will result in a reduction in the purchase price and that the indemnities and escrow account remain unchanged Source text for Eikon: [here ] Further company coverage: (Reporting By Zurich newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below