Swiss banking giant rivals UBS and Credit Suisse are reportedly cooperating for once. And the common goal is apparently a listing for one of the country’s most successful industrial companies.
The specialist rolling stock manufacturer Stadler Rail – one of Switzerland’s most successful heavy industrial concerns – is reportedly planning a stock-exchange listing, and has called in UBS and Credit Suisse to steer the process. This is according to the news agency «Reuters», citing several anonymous sources.
The American Citigroup and the regional state-controlled Zuercher Kantonalbank are also involved in the initial public offering, both as bookrunners, according to the report. Peter Spuhler, the billionaire founder of Stadler Rail and a prominent populist member of parliament, told the news agency that a listing for the firm was «one option»,
The rolling stock industry is currently undergoing a consolidation, with the German manufacturer Siemens and the French concern Alstom weighing a merger. Stadler, with its global customer base faces tough competition, could use fresh capital to expand ist business.
