Sulzer pockets Sfr15m profit on sanctions relief trade

Aidan Gregory

September 19, 2018 04:00 pm

Viktor Vekselber PA 230x150 — Entrepreneur Viktor Vekselberg gives a press conference on the opening of the private Faberge Museum in the recently renovated Shuvalov Palace The museum showcases a collection of Viktor Vekselberg's Link of Times cultural and historical foundation that includes nine imperial Faberge eggs owned by the Russian tsars. | Yuri Belinsky/Tass/PA Images

Sulzer, the Swiss maker of industrial machinery, has made a Sfr15m ($15.5m) profit on a block of shares it acquired in April from its former majority owner, Renova Group, to escape economic sanctions imposed on Russian companies and individuals by the US Treasury’s OFAC.

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Topics

Switzerland Credit Suisse UBS Equity ABBs-Block Trades Europe EMEA

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Aidan Gregory