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    UBSG   CH0244767585

UBS GROUP AG

(UBSG)
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UBS : announces agreement to sell its minority stake in Clearstream Fund Centre to Deutsche Börse

05/06/2021 | 02:43pm EDT

Zurich/Basel, 6 May 2021 - UBS Group and UBS AG today announce that UBS 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).

UBS Group AG and UBS AG

Investor contact

Switzerland:
+41-44-234 41 00

Media contact

Switzerland:
+41-44-234 85 00
UK:
+44-207-567 47 14
Americas:
+1-212-882 58 58
APAC:
+852-297-1 82 00

Disclaimer

UBS Group AG published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 18:42:09 UTC.


© Publicnow 2021
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Financials
Sales 2021 29 700 M 32 165 M 32 165 M
Net income 2021 4 606 M 4 988 M 4 988 M
Net cash 2021 1 498 M 1 623 M 1 623 M
P/E ratio 2021 11,1x
Yield 2021 2,49%
Capitalization 50 522 M 54 773 M 54 715 M
EV / Sales 2021 1,65x
EV / Sales 2022 1,63x
Nbr of Employees 71 779
Free-Float 91,2%
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Average target price 16,21 CHF
Last Close Price 14,34 CHF
Spread / Highest target 39,5%
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Ralph A. J. G. Hamers Group Chief Executive Officer
Kirt Gardner Group Chief Financial Officer
Axel A. Weber Chairman
Mike Dargan Chief Digital & Information Officer
Sabine Keller-Busse Group Chief Operating Officer
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