Shareholders in Swiss bank UBS have voted in favour of an €8 billion increase in capital aimed at restoring the embattled bank's balance sheet after heavy losses.
The losses were mainly from investments linked to sub-prime, or risky, US mortgages.
Under the deal, Singapore's state investment arm GIC will inject €6.8 billion into UBS, giving it a stake of around 9% and making it the largest single shareholder. More capital will come from an unnamed Middle East investor.
Earlier this year UBS reported a net loss of €2.7 billion in 2007.
