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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  EFG International AG    EFGN   CH0022268228

EFG INTERNATIONAL AG

(EFGN)
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EFG International : announces the closing of the acquisition of majority stake in Shaw and Partners

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04/30/2019 | 01:08am EST

EFG International AG

Phone +41 44 226 18 50

Bleicherweg 8

Fax +41 44 226 18 55

8001 Zurich

efginternational.com

Switzerland

Media Release

EFG International announces the closing of the acquisition of majority stake in Shaw and Partners

Zurich, 30 April 2019

EFG International AG today announces the completion of the acquisition of 51% of the Australian financial service provider Shaw and Partners, as initially announced on 13 March 2019.

EFG International has received all required regulatory approvals and completed the acquisition of the majority stake in Shaw and Partners, which was announced on 13 March 2019. The acquisition of the Australian financial service provider considerably enlarges EFG's coverage in the Asia Pacific region, providing immediate access to the Australian market, one of the most attractive and fastest growing wealth management markets worldwide, and strengthening the bank's China offshore business.

Building on the partnership with Shaw and Partners, which is a successful domestic player with a well-regarded and recognised brand in the region, offers significant growth opportunities for both parties. With a network of around 150 financial advisers and six offices across Australia, Shaw and Partners has a wide reach and has exhibited a strong growth in its business over the past couple of years, with an annualised Assets under Management growth rate of approximately 19% since 2015, reaching approx. CHF 11.5 billion year to date.

The total consideration will be paid via a combination of cash and up to 2.1 million of newly issued EFG shares. The transaction has only a marginal impact on EFG's strong capital ratios. 70% of the total consideration was paid at closing with the remaining balance to be paid in two tranches: The first on 30 June 2020 and the second on 30 June 2021. All issued shares will be subject to a three-yearlock-up period, subject to proportionate release over that time period. Payment of remaining two tranches is subject to downward revision based on the achievement of agreed Assets under Management and revenue thresholds. Going forward, Shaw and Partners will be fully consolidated into EFG International.

Contact

Investor Relations

Media Relations

+41 44 212 73 77

+41 44 226 12 72

investorrelations@efginternational.com

mediarelations@efginternational.com

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EFG International

EFG International is a global private banking group offering private banking and asset management services and is headquartered in Zurich. EFG International's group of private banking businesses operates in around 40 locations worldwide. Its registered shares (EFGN) are listed on the SIX Swiss Exchange.

EFG International AG, Bleicherweg 8, 8001 Zurich, Switzerland

www.efginternational.com

Important Disclaimer

This document has been prepared by EFG International AG ("EFG") solely for use by you for general information only and does not contain and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding EFG.

This release contains specific forward-looking statements that include terms like "believe", "assume", "expect", "target" or similar expressions. Such forward-looking statements represent EFG's judgments and expectations and are subject to known and unknown risks, uncertainties and other factors that may result in a substantial divergence between the actual results, the financial situation, and/or the development or performance of the company and those explicitly or implicitly presumed in these statements. These factors include, but are not limited to: (1) the ability to successfully realise the synergies expected from the integration of BSI SA ("BSI"), (2) general market, macroeconomic, governmental and regulatory trends, (3) movements in securities markets, exchange rates and interest rates, (4) competitive pressures, and (5) other risks and uncertainties inherent in the business of EFG and its subsidiaries, including BSI legacy risks. EFG is not under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law or regulation.

Nothing contained herein is, or shall be relied on as, a promise or representation concerning the future performance of EFG and its subsidiaries. EFG may not realise the full benefits of the integration of BSI, including the expected synergies, cost savings or growth opportunities within the anticipated time frame or at all.

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Disclaimer

EFG International AG published this content on 30 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 April 2019 05:07:02 UTC

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Financials (CHF)
Sales 2019 1 153 M
EBIT 2019 239 M
Net income 2019 113 M
Debt 2019 -
Yield 2019 5,18%
P/E ratio 2019 17,5x
P/E ratio 2020 11,6x
Capi. / Sales2019 1,54x
Capi. / Sales2020 1,43x
Capitalization 1 777 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 7,13  CHF
Last Close Price 6,07  CHF
Spread / Highest target 38,4%
Spread / Average Target 17,4%
Spread / Lowest Target -1,15%
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Managers
NameTitle
Piergiorgio G. Pradelli Chief Executive Officer
John Alexander Williamson Chairman
Christian Flemming Chief Operating Officer
Dimitris Ch. Politis Chief Financial Officer
Mark Bagnall Chief Technology Officer
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