ZURICH, Switzerland--(BUSINESS WIRE)--
Following the successful completion of the share exchange offer to acquire all issued shares of UBS AG in December 2014 , UBS Group AG has filed a request with the Commercial Court of the Canton of Zurich for a procedure under article 33 of the Swiss Stock Exchange Act (the "SESTA Procedure"). If the SESTA Procedure is successful, the shares of the remaining minority shareholders of UBS AG will be automatically exchanged for UBS Group AG shares, and UBS Group AG will then become the 100% owner of UBS AG.
While UBS Group AG is confident it will conclude the SESTA Procedure successfully, both the timing and outcome of the procedure are dependent on the court. UBS currently expects that the SESTA Procedure will be completed in the second half of 2015.
UBS Group AG (NYSE:UBS)(SWX:UBSN) may continue to acquire additional UBS AG shares using any method permitted under applicable law. This includes purchases of UBS AG shares or share equivalents, or exchanges of UBS AG shares with UBS Group shares on a one-for-one basis.
As previously announced, UBS AG shares will be delisted from the SIX Swiss Exchange after the successful completion of the SESTA Procedure.
UBS Group AG and UBS AG
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