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BRIEF-EFG International says fine in 1MDB case will result in reduction in BSI purchase price
May 24, 2016 / 5:15 AM / a year 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)

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