UBS Gains Full Ownership of UBS Securities
UBS has received approval from China's securities regulator to become the sole shareholder of UBS Securities. This move involves acquiring an additional 33% stake from Beijing State-owned Assets Management, allowing UBS to raise its ownership to 100%.
- Country:
- China
UBS has announced a significant development following the approval from China's securities regulator for it to acquire full ownership of UBS Securities. The Swiss bank confirmed this news in a statement released on Friday.
The acquisition will involve purchasing an additional 33% stake in the Chinese joint venture. This move will see UBS increase its stake from Beijing State-owned Assets Management, culminating in a 100% ownership of UBS Securities.
This marks a crucial strategic step for the global financial services company as it strengthens its foothold in the Chinese market.
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