Cracking the Vault
Your (mostly) Swiss finance update
Cracking the Vault is a daily roundup focused on (mostly) Swiss finance.
Let’s jump in!
Activist Cevian takes a position in UBS; Canyon Bikes in the red despite increasing sales volume; Rolex fined $100 million; DB Schenker sales process launched; and ZKB slashes account fees.
Headline recap
Price slashing sees Canyon make losses (Cycling Weekly)
Activist Cevian places €1.2bn bet on UBS (FT)
Private equity sector: dream salaries despite market slump (Finews)
Rolex fined $100m for thwarting online watch sales (BBG)
ZKB abolishes fees - will other banks follow suit? (TA)
Deutsche Bahn launches sales process for logistics arm DB Schenker (Reuters)
Gyrus Capital’s new private equity fund is 44% bigger than its debut (Altassets)
Faster than expected: Switzerland achieves solar record (TA)
Tikehau Capital needs new Head of Private Equity (Finance Magazin)
Transaction update
Analytics company Dataciders gets new owner with Rivean (Handelsblatt)
Proteomedix acquired by US company (Startup Ticker)
IBM to acquire StreamSets and WebMethods from Software AG for $2.3B (TC)
Fujitsu Services GmbH is sold to the Munich-based investor AEQUITA (Connect)
Biosynth acquired Zurich-based VIO Chemicals (AFP)
Swiss Dental Solutions AG acquired by Gilde Healthcare (PR Newswire)
Patrimonium and COI Partners acquire Frankfurt-based TestSolutions (EQS)
Leonteq acquires stake in the former Bern Stock Exchange (Finews)