Credit Suisse Shares Jumped 4.79% as Investment Bank Attracts Abu Dhabi, Saudi Interest
Bloomberg2022-10-17
Abu Dhabi and Saudi Arabia are weighing whether to put money into Credit Suisse Group AG’s investment bank and other businesses to take advantage of depressed values, according to people with knowledge of the matter, Bloomberg News reports.
Credit Suisse shares jumped 4.79% in morning trading.
The oil-rich emirate and its Gulf neighbor are separately exploring potential investments through sovereign wealth funds such as Abu Dhabi’s Mubadala Investment Co. and Saudi Arabia’s Public Investment Fund, the people said, asking not to be identified as talks are private. A deal could come through other vehicles in which each country owns significant stakes, the people said.
Deliberations are at an early stage and it isn’t clear if they’d lead to any firm offers. Potential investors in the Swiss lender are wary about the risk of future losses or legal issues associated with the units, the people said.
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