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Credit Suisse Group to Sell Wincasa to Swiss Prime Site

Credit Suisse Group AG announced today that it has reached a final agreement with Swiss Prime Site AG on the sale of Wincasa AG. The parties have agreed not to disclose the purchase price. The transaction is due to be completed at the end of October 2012, subject to the approval of the Swiss Competition Commission.

The real estate services group Wincasa AG, Winterthur, was founded in 1999 when the property management arm of Credit Suisse merged with the former Winterthur Insurance. Credit Suisse Group is now divesting this non-strategic 100% subsidiary with the sale to Swiss Prime Site.