DYNAMICS GROUP AG Cevian Capital announces a c. EUR 1.2 billion investment (c. 1.3% ownership) in UBS Group AG
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Dynamics Group AG
/ Key word(s): Investment
FOR IMMEDIATE RELEASE
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 [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.
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1799479 19.12.2023 CET/CEST