EFTA02488871.pdf

From: jeffrey E. <jeevacation@gmail.com> Sent: Monday, August 31, 2015 5:18 PM To: A. de Rothschild Subject: Re: Confidential its a longer discussion, but i would be happy for yo= to take between 2-3 b . and be done. its nunaced and fi=cally delicate. I will try to come to paris On Mon, Aug 31, 2015=at 12:31 PM, A. de Rothschild < > wrote: Fyi . Let s talk about i= Ariane de Rothschild Debut du message tra=sfere : Exp=C3 diteur: FIEVET Emmanuel <11 > Date: 31 aoUt 2015=17:59:20 UTC+ Destinataire: "A. de Rothschild" >,="TOBIANO, Cynthia" target=» < Objet: Con=idential Call with Jakob Stott —=Head of Europe for UBS WM. Jakob reports to Juerg Zeltner. He hired JFdL i= to UBS 3 years ago. In short: nothing new...<=> * =C2• They are very exciting at the ide= of working with us * =C2• They see it as a great opportunit= to create synergies, value and a market leader * =C2* They are flexible in terms of cas= injection vs equity stake * =C2* They see other cross sell opportu=ities at the Group level But.... There is a constraint on UBS which is=that they need to see a path to full (or majority) control.<=span> EFTA_R1_01609114 EFTA02488871  I reiterated that 1) we are not seller and 2) if we=were it would be Edr Group and not just France. They would be happy to consider Group. They would like to data crunch to have a better und=rstanding of what we are talking about. Options/Suggestions: 1) We tell them, we are not interest=d and close the discussion 2) We data crunch and let them =80 buy" 15-20% in EdR France with a call option to 51% (or more)=in S years 3) We do 2) at Group level=/u> Thoughts?<=p> EF Based on e-mai= exchanges with you up until now or under past agreements, we believe we a=e entitled to contact you by unsecured e-mail. E-mail entails=considerable risks: Internet communications cannot be guaranteed to be con=idential, secure or error-free as information could be intercepted, corrup=ed, lost, arrive late or contain viruses. The sender therefore does not ac=ept liability for any errors or omissions in the context of this message w=ich arise as a result of Internet transmission. Unless otherwi=e stipulated herein, any opinions contained in this message are those of t=e author and are not given or endorsed by the company through which this m=ssage is sent. Nothing in thi= message or in its attachments should be construed as a solicitation or of=er, or recommendation, to acquire or dispose of any investment or to engag= in any other transaction. No order, orde= revocation, blocking order or any other bank order shall be accepted by e=ectronic medium and we do not deem ourselves under any obligation either t= refuse such orders expressly or to act upon them in any manner. </=> =• 2 EFTA_R1_01609115 EFTA02488872  =C2 please note The information contained in this co=munication is confidential, may be attorney-client privileged, may c=nstitute inside information, and is intended only for the use of the ad=ressee. It is the property of JEE Unauthorized use, disclosure or co=ying of this communication or any part thereof is strictly prohibitedand may be unlawful. If you have received this communication in error,=please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.comq=>, and destroy this communication and all copies thereof, induding =11 attachments. copyright -all rights reserved EFTA_R1_01609116 EFTA02488873