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(Reuters) -The Qatar Funding Authority plans to lift its stake in Swiss lender Credit score Suisse Group AG by investing in a share sale alongside the Saudi Nationwide Financial institution, the Monetary Occasions reported, citing individuals with data of the talks.
The deal will end in as much as 1 / 4 of Credit score Suisse’s inventory being owned by Center Japanese buyers, based on the report revealed on Wednesday.
Credit score Suisse declined to touch upon the report, whereas Qatar Funding Authority didn’t instantly reply to a Reuters request.
The report comes after the embattled lender introduced final month that it plans to lift 4 billion Swiss francs ($4.01 billion) from buyers to fund its restructuring and pad its stability sheet following a string of scandals and losses.
Final week, Saudi Arabia-controlled SNB mentioned it might make investments as much as 1.5 billion francs in Credit score Suisse to take a stake of as much as 9.9% and should put money into the funding financial institution.
($1 = 0.9980 Swiss francs)
(Reporting by Anirudh Saligrama in Bengaluru; Modifying by Rashmi Aich)
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