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.
UBS Group AG and UBS AG
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