Credit Suisse has said in a statement that it has reached a deal to sell its operations in Gibraltar and Monaco to J Safra Sarafin. Meanwhile, when completed, the acquisition means that Credit Suisse (Monaco), which has had a presence in the tiny principality for more than 40 years, will rank among the largest banks in Monaco. The bank will pay €1 billion ($1.06 billion) for the two businesses as well as an additional €500 million ($550 million) of debt.
Credit Suisse has said in a statement that it has reached a deal to sell its operations in Gibraltar and Monaco to J Safra Sarafin. The bank will pay €1 billion ($1.06 billion) for the two businesses as well as an additional €500 million ($550 million) of debt.