The closing date for the acquisition is expected to be 31 July 2012.
Jacob J Safra, vice chairman of J Safra Holding, remarked, "We are delighted that all the necessary approvals have now been obtained. This clears the way for the closing of the transaction."
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He also expressed optimism in the management team led by Joachim Straehle and the long-term potential of Sarasin’s business strategy.
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