Deals
Two EFG Shareholders Are Said to Favor Acquisition of BSI
- No. 3 investor sees `substantial synergies' from transaction
- Another top-10 shareholder said to consider increasing stake
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EFG International AG, the Swiss private bank controlled by Greek billionaire Spiro Latsis and his family, is persuading some of the biggest investors that the acquisition of BSI should boost profit.
BMO, the unit of Bank of Montreal that’s EFG’s third-largest shareholder, favors the 1.33 billion Swiss-franc ($1.33 billion) transaction, subject to more information on plans to boost profitability, fund manager David Moss said in an interview. Another shareholder who owns more than 2 percent of EFG is supportive and may increase its stake, a person with knowledge of the matter said, asking not to be identified because the matter is private.