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Credit Suisse Buys Remaining Shares Of Swiss Bank Aargauer
Credit Suisse is to spend SFr37.5 million ($38 million) to up its 98.6 per cent shareholding in Neue Aargauer Bank to 100 per cent.
The offer price is SFr1,000 per share and extends to 37,477 NAB registered shares. The public tender offer is open from 27 September to 22 October.
Credit Suisse has held, directly and indirectly, over 98 per cent of the share capital and voting rights of NAB since 1994.
NAB, which is based in the Swiss canton of Aargau, reported a full year profit of SFr107.5 million profit for 2009. The bank's assets under management stood at SFr16 billion at the end of 2009, up six per cent year-on-year.
