Vontobel to optimize capital structure with intended repurchase of Raiffeisen shareholding related to cooperation agreement

 

Vontobel has acknowledged with regret Raiffeisen’s latest decision with regard to the cooperation agreement. In the interests of Raiffeisen’s clients, Vontobel will still continue to provide and ensure the contractually agreed services as part of the existing cooperation, while maintaining the same high quality standards. The cooperation will now expire as of the end of June 2017.

 

As regards the Raiffeisen interest, Vontobel intends to make use of its repurchase right to acquire the entire 12.5% shareholding for the purpose of cancelling the shares. This will enable Vontobel to increase its flexibility in managing its capital structure going forward.

 

Raiffeisen Group CFO Marcel Zoller is also stepping down from the Board of Directors of Vontobel Holding AG with immediate effect, and with sincere thanks for his services.

 

The arbitration proceedings will continue irrespective of this termination of the agreement, particularly since these proceedings are to clarify matters of interpretation relating to the currently valid cooperation agreement between Raiffeisen and Vontobel.

Contact

Media Relations:	Reto Giudicetti	+41 (0)58 283 61 63
Investor Relations:	Fabrizio Croce	+41 (0)58 283 51 26