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EFG to buy BSI for US$1.3 billion

EFG International has agreed to buy Lugano-based private bank BSI for CHF1.3 billion (US$1.3 billion) in cash and shares, with assets under management (AUM) at the combined group to total some CHF170 billion as at end-2015. EFG announced today that the deal was inked 21 February 2016 with BSI’s sole shareholder BTG Pactual. Under the agreement, subject to approval from shareholders and…

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