UBS Announces Agreement to Sell Its Minority Stake in Clearstream Fund Centre to Deutsche Börse
May 06 2021 - 1:30AM
Dow Jones News
Regulatory News:
UBS Group and UBS AG today announce that UBS (NYSE:UBS)
(SWX:UBSN) has agreed to sell its remaining minority stake (48.8%)
in Clearstream Fund Centre (CFC) to Deutsche Börse AG for
approximately CHF 390 million. Long-term commercial cooperation
arrangements remain in place for the provision of services by
Clearstream to UBS, including the collaboration in jointly
servicing banks and insurance companies. The transaction follows
the successful transition of UBS Fondcenter to Deutsche Börse in
September 2020.
Suni Harford, President of UBS Asset Management, said: "With the
transition now complete, and the business on a strong growth
trajectory, our clients are in good hands and Clearstream Fund
Centre is well placed for the future. We look forward to leveraging
the platform's leading capabilities and wish the team every success
on the next stage of their journey."
Stephan Leithner, Member of the Executive Board of Deutsche
Börse AG and Clearstream Chairman, said: "Clearstream Fund Centre
has proved to be a highly complementary business for Clearstream's
fund operations businesses. Our two-step integration approach with
UBS has enabled a seamless transition for clients and laid the
perfect basis for our continued, long-term partnership with UBS. We
see significant opportunities to further grow the global footprint
of this business, particularly in Europe but also in Asia Pacific.
This transaction is fully in line with our strategy to grow our
offering in areas that are benefitting from strong secular
growth."
The transaction is subject to certain closing conditions and is
expected to complete in June 2021. UBS expects to recognize a
post-tax gain of approximately USD 35 million and CET1 capital
increase of approximately USD 400 million in the second quarter of
2021.
About UBS
UBS provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. UBS is the largest truly global wealth
manager, and a leading personal and corporate bank in Switzerland,
with a large-scale and diversified global asset manager and a
focused investment bank. The bank focuses on businesses that have a
strong competitive position in their targeted markets, are capital
efficient, and have an attractive long-term structural growth or
profitability outlook.
UBS is present in all major financial centers worldwide. It has
offices in more than 50 regions and locations, with about 30% of
its employees working in the Americas, 31% in Switzerland, 19% in
the rest of Europe, the Middle East and Africa and 20% in Asia
Pacific. UBS Group AG employs over 68,000 people around the world.
Its shares are listed on the SIX Swiss Exchange and the New York
Stock Exchange (NYSE).
Forward Looking Statements: This media release contains
statements that constitute "forward-looking statements," including
but not limited to performance targets, expectations and ambitions,
as well as management's outlook for UBS's financial performance and
statements relating to the anticipated effect of transactions and
strategic or business initiatives on UBS's business and future
development. While these forward-looking statements represent UBS's
judgments and expectations concerning the matters described, a
number of risks, uncertainties and other important factors could
cause actual developments and results to differ materially. For a
discussion of the risks and uncertainties that may affect UBS's
future results please refer to the "Risk Factors" and other
sections of UBS's most recent Annual Report on Form 20-F, quarterly
reports and other information furnished to or filed with the US
Securities and Exchange Commission on Form 6-K, and the cautionary
statement on the last page of this presentation. UBS is not under
any obligation to (and expressly disclaims any obligation to)
update or alter its forward-looking statements, whether as a result
of new information, future events, or otherwise.
Available Information: UBS's Annual Report, Quarterly Reports,
SEC filings on Form 20-F and Form 6-K, as well as investor
presentations and other financial information are available at
www.ubs.com/investors. UBS's Annual Report on Form 20-F, quarterly
reports and other information furnished to or filed with the US
Securities and Exchange Commission on Form 6-K are also available
at the SEC's website: www.sec.gov
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210505005990/en/
CONTACT: UBS Group AG and UBS AG
Investors
Switzerland: +41-44-234 41 00
Media
Switzerland: +41-44-234 85 00
UK: +44-207-567 47 14
Americas: +1-212-882 58 58
APAC: +852-297-1 82 00
www.ubs.com/media
SOURCE: UBS
Copyright Business Wire 2021
(END) Dow Jones Newswires
May 06, 2021 01:15 ET (05:15 GMT)
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