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UBS is moving to fully acquire "UBS Securities" in China, currently holding 67% of the joint venture, as its partner, Beijing State-owned Assets Management (BSAM), plans to sell its 33% stake. This follows UBS's partial exit from the securities business of Credit Suisse, where it sold 36% of CS Securities to BSAM, reducing its stake to 15%. UBS shares dipped 1.23% to 28 francs on the SIX.
UBS is in the process of acquiring full ownership of its securities joint venture in China, currently held at 67% after its partner, Beijing State-owned Assets Management, decided to auction its 33% stake. This move follows UBS's strategic exit from the securities business of Credit Suisse in China, where it sold a significant portion of its stake in CS Securities.
UBS is in the process of acquiring the remaining 33% stake in its securities joint venture in China from Beijing State-owned Assets Management (BSAM), aiming for full ownership. In exchange, UBS plans to divest its 51% stake in CS Securities to a Chinese state-owned entity, following a strategic reorganization after the Credit Suisse takeover. As of June, UBS reduced its stake in CS Securities to approximately 15%.
UBS is moving to acquire full control of its securities joint venture in China, currently holding 67% while partner BSAM plans to auction its 33% stake. This follows UBS's recent strategic shift, where it reduced its stake in CS Securities, exiting a majority position.
UBS is in the process of acquiring the remaining 33% stake in its securities joint venture in China, UBS Securities, from Beijing State-owned Assets Management (BSAM), which currently holds that stake. In exchange, UBS plans to divest its 51% stake in CS Securities to a Chinese state-owned entity. This move follows UBS's strategic reorganization in China after the Credit Suisse takeover, during which it reduced its stake in CS Securities from 51% to approximately 15%.
Beijing State-Owned Assets Management plans to sell its entire 33 percent stake in UBS Securities for at least CNY1.5 billion (USD212.2 million). UBS, which increased its ownership to 67 percent in 2022, is in the process of acquiring full control. Additionally, BSAM recently became the largest shareholder in Credit Suisse Securities China after acquiring a significant stake, pending regulatory approval.
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