By Pierre Bertrand

UBS Group said it expects to complete its acquisition of Swiss peer Credit Suisse Group as early as June 12.

Upon completion, Credit Suisse's shares and American depositary shares will be delisted from the SIX Swiss Exchange and the New York Stock Exchange, UBS said in a statement Monday.

UBS, which received the European Union's clearance for its takeover of Credit Suisse last month, said Credit Suisse shareholders will receive one UBS share for every 22.48 outstanding shares held.

It added that Credit Suisse Group's obligations under its outstanding debt securities will become UBS obligations.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

June 05, 2023 01:16 ET (05:16 GMT)

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