Settlement between Parmalat and UBS
UBS confirms the settlement today of all actions filed by companies of the Parmalat Group in Extraordinary Administration and by Parmalat S.p.A. against UBS Limited and UBS AG on the terms announced in the media release issued by Parmalat S.p.A. UBS has committed to pay a total of approximately EUR 150 million for the claw back claim and EUR 35 million for the damages claims to Parmalat S.p.A. and the Extraordinary Commissioner pursuant to the terms of the settlement.
The settlement will have a negligible effect on UBS's earnings in view of the provisions previously established by UBS in connection with these matters.
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