Ebners Aufschub

verfasst von Popeye, 05.08.2002, 08:16

UPDATE 1-Swiss Ebner gets loan
relief from banks-paper

August 05, 2002 01:56 AM ET
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(adds details of BZ shareholdings)

ZURICH, Aug 5 (Reuters) - Swiss
financier Martin Ebner's BZ Group
has received some breathing space
on its debts after major banks
allowed it to miss scheduled
payments on loans worth about
three billion Swiss francs ($2
billion), the Wall Street Journal
Europe said on Monday.

Citing a person familiar with the
situation, the paper said the banks
had allowed Ebner to extend payments by about a year.

No one at BZ was immediately available for comment.

The move is part of a package of measures agreed by eight banks to
help Ebner steady his BZ Group, the paper reported. Last week, Ebner
unexpectedly sold control of four publicly traded funds on talk of a
liquidity crisis at the group.

Swiss media reported over the weekend that BZ Group had debts worth
as much as 10 billion francs. Ebner, who appeared on Swiss television
late on Sunday, said that BZ Group was sound but would not comment
on the group's debts.

Despite the sale of the funds to state-backed regional bank Zuercher
Kantonalbank, BZ still holds direct stakes in some of Switzerland's
biggest companies including ABB ABBZn.VX, Credit Suisse CSGZn.VX,
Baloise BALZn.VX and chemicals firm Lonza LONZn.VX.

It also holds stakes in Hero HERZ.S, Investor INVEb.ST, Tularik TLRK.O
, Intershop ISHZ.S, Italy's Pirelli PIRI.MI and Rieter RITZn.S. Stocks in
these companies could come under pressure on Monday on fears that BZ
would reduce its stakes in a bid to raise fresh cash.

The banks involved in the BZ loan relief deal include Credit Suisse,
Westdeutsche Landesbank WDLGg.D, HSBC Holdings HSBA.L, Austria's
Raiffeisen Zentralbank, the Landesbank of Germany's
Baden-Wuerttemberg state, ZKB and two Swiss regional banks, the
WSJE said.

No one at Credit Suisse or ZKB was immediately available for comment.

Quelle: Reuters

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• Ebners Aufschub - Popeye, 05.08.2002, 08:16