Bloomberg News

Credit Suisse Unit Sells EcoSecurities Shares as Offer Made

July 24, 2009

A unit of Credit Suisse Group AG (CSGN) sold some of shares in EcoSecurities Group Plc, a Dublin-based developer of emission-reduction projects that’s subject of takeover offer by Guanabara Holdings BV.

Credit Suisse Securities (Europe) Ltd. had a holding of 7.2 million shares as of July 16, according to a statement distributed yesterday by the Hugin newswire. That’s down from 8.3 million shares on June 9. The shares closed at 78 pence July 16, up from a record low 17.5 pence on March 3.

Credit Suisse International, another unit of the bank, agreed to buy about 9.2 million shares of EcoSecurities in June 2007 for 320 pence a share. That unit had a holding of 9.9 million shares, according to the statement. That’s the same as a similar statement last month. In total, Credit Suisse’s holding fell to 14.5 percent from 15.4 percent previously, data from Hugin statements show. The bank is the company’s biggest shareholder, Bloomberg data show. A Credit Suisse spokeswoman Sofia Rehman in London declined to comment.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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