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.
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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