Private Equity Holding and Bank Vontobel resolve past issues
Private Equity Holding AG /
Private Equity Holding and Bank Vontobel resolve past issues
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Private Equity Holding and Bank Vontobel resolve past issues
Zug, August 26, 2011
At the end of June 2011, the public prosecutor of Zurich dropped the appeal
against the decision to acquit two former members of the management board of
Bank Vontobel with respect to the capital increase of Private Equity Holding AG
(PEH) in March 2000. As a result of new insights emerging from the files of the
criminal proceedings, last year PEH brought a civil claim against Bank Vontobel
in the Commercial Court of Zurich.
This claim addressed complex legal questions, leading PEH to insure the cost
risk associated with the claim. From the beginning, there were numerous
obstacles in the way of reaching a favorable outcome.
Yesterday, after a detailed cost benefit analysis, PEH agreed to drop the claim
as part of a court settlement in return for a single payment of CHF 1 million.
The net result is a small financial gain for PEH. However, more important than
the absolute amount is the fact that PEH has finally left behind its troubled
early years.
***
Private Equity Holding AG (SIX: PEHN), managed by Alpha Associates, offers
investors the opportunity to invest, within a simple legal and tax optimized
structure, in a broadly diversified and professionally managed private equity
portfolio.
For further information, please contact:
Peter Wolfers, Investor Relations,peter.wolfers@peh.ch, phone +41 41 726 79 80,
http://www.peh.ch
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Private Equity Holding AG
Innere Güterstrasse 4 Zug
WKN: 906781;ISIN: CH0006089921;
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Source: Private Equity Holding AG via Thomson Reuters ONE
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