By Sarah Sloat 
 

Deutsche Boerse AG said Thursday that it has acquired the remaining 49% stake in Clearstream Fund Centre from UBS AG for 390 million Swiss francs ($427 million).

With the deal, Deutsche Boerse will become the sole shareholder in the Zurich-based fund distribution platform. The German stock market operator initially closed the acquisition of a 51% stake in September.

The transaction is expected to result in a low-to-medium double-digit million euro book gain for Deutsche Boerse, it said.

Swiss bank UBS AG remains a partner and client of Clearstream Fund Centre, Deutsche Boerse said.

 

Write to Sarah Sloat at sarah.sloat@wsj.com

 

(END) Dow Jones Newswires

May 06, 2021 01:46 ET (05:46 GMT)

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