UBS Shares Surge On Reports Of Cevian Capital's Stake

(RTTNews) - As per Financial Times, International investment firm Cevian Capital has taken a 1.3% stake in UBS worth approximately 1.2 billion euros. The investment firm sees significant value potential in UBS following the merger with Credit Suisse.

Following the merger of the holding companies UBS Group AG and CS Group AG on 12 June 2023, the Board of UBS Group AG recently approved the execution of a merger of UBS AG and Credit Suisse AG. The completion is subject to regulatory approvals and is anticipated to happen in 2024.

Cevian Capital acquires significant minority ownership positions in European public companies and works to advance long-term and sustainable value creation.

Shares of UBS are up 3% in pre-market trade on Tuesday.