Swiss National Bank buys majority stake in bank note materials maker
21/12/2017 06:01
ZURICH, Dec 21 (Reuters) - The Swiss National Bank SNBN.S
said it was buying a majority stake in a maker of materials for
banknotes and passports - to safeguard production and prevent
its new bank notes running out.
The central bank said it was acquiring a 90 percent stake in
Landqart AG after the company - which makes substrates used in
the new 10 franc note - got into financial difficulties.
"The SNB has decided to acquire the company because,
otherwise, issuance of the new Swiss banknote series would not
have been guaranteed across the entire production stream," the
SNB said.
($1 = 0.9861 Swiss francs)
(Reporting by John Revill; editing by Brenna Hughes Neghaiwi)
((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))
Keywords: SNB ACQUISITION/NOTES