Beijing, 26 September, 2005 – Bank of China Limited (“Bank of China”) and UBS announced that, following negotiations and discussions by the two entities, UBS will make a US$500 million equity investment in Bank of China, which is subject to a lock-up period of three years. This transaction is pending relevant government approvals.
Pursuant to the agreement reached between Bank of China and UBS, the two parties intend to cooperate in investment banking and securities businesses. In addition, UBS will share its skills, experience and know-how in risk management, asset and liability management with Bank of China.
UBS is a leading global financial institution with outstanding performance in areas of investment banking, risk management and wealth management for high net-worth individuals. Bank of China is the most international commercial bank in China, with the longest history and strongest capital base. Bank of China believes that the investment by and the strategic cooperation with UBS will further promote mutually beneficial cooperation between the two entities.
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