How much did Credit Suisse raise from selling its Allfunds stake?

Question

Accepted Answer

Credit Suisse Raised €334 Million From Allfunds Stake Sale

Credit Suisse has raised €334 million (RM1.5 billion) through the sale of its 8.6 per cent stake in the Spanish fund-distribution platform, Allfunds. This divestment is part of the bank's efforts to generate cash in anticipation of a significant strategic restructuring.
Stake Acquisition in 2020

The minority stake in Allfunds was initially acquired by Credit Suisse in 2020. This acquisition occurred following the sale of Credit Suisse's business-to-business investment fund platform, InvestLab, to Allfunds.
Strategic Overhaul Context

The sale of the Allfunds stake comes at a critical juncture for Credit Suisse. Chief Executive Ulrich Koerner, who assumed leadership in August and is known for his restructuring expertise, was expected to present a comprehensive strategic review of the bank.
Financial Pressures and Scandals

Credit Suisse, Switzerland's second-largest bank, has faced considerable challenges, including a series of scandals, financial concerns, and a decline in its share value. Notable past incidents that have impacted the bank include the collapse of the UK financial firm Greensill, involving approximately US$10 billion committed through four funds, and the implosion of the US fund Archegos, which resulted in a loss exceeding US$5 billion for Credit Suisse.

Reading history

Hide →

This history is cleared when the page is closed.

How much did Credit Suisse raise from selling its Allfunds stake?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends