UBS: agreement to sell assets to Apollo
This mutually beneficial agreement is in line with UBS's strategy to reduce and simplify its Non-Core and Legacy (NCL) portfolio," he says, adding that it completes the demerger of Credit Suisse's former securitized products business.
UBS expects to book a net gain of around 0.3 billion dollars in the first quarter of 2024 as a result of this agreement, while Credit Suisse is expected to book a net loss of around 0.9 billion.
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