UBS Group AG (UBS) and Apollo conclude investment management and transition services agreements as final step in carve-out of former Credit Suisse Securitized Products business, Atlas SP
UBS Group AG Registered Ordinary Shares (UBS)
US:NYSE Investor Relations:
ubs.com/global/en/about_ubs/investor_relations.html
Company Research
Source: Business Wire
ZURICH & NEW YORK--(BUSINESS WIRE)--Regulatory News:Ad hoc announcement of Credit Suisse AG pursuant to Article 53 of the SIX Exchange Regulation Listing RulesUBS (NYSE:UBS) (SWX:UBSN) and Apollo today announced that they have entered into an agreement pursuant to which ATLAS SP (Atlas) has concluded its Transition Services Agreement with UBS and UBS will close out its Investment Management Agreement with Atlas.As part of this agreement, Apollo will purchase USD 8 billion of senior secured financing facilities from UBS.This mutually beneficial agreement aligns with UBS’s strategy of winding down and simplifying its Non-Core and Legacy (NCL) portfolio and with Apollo’s continued momentum in growing Atlas as a standalone origination platform.For UBS, these actions will allow the bank to further accelerate its plans to unwind and more efficiently simplify its NCL portfolio, while minimizing any disruption to clients, and reduce risk-weighted assets and leverage ratio denominator in N
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UBS
News
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- UBS Group AG (NYSE: UBS) was downgraded by analysts at BNP Paribas from an "outperform" rating to a "neutral" rating.MarketBeat
- UBS: To Play It Safe [Seeking Alpha]Seeking Alpha
- UBS hires financial advisor team led by Christopher Toregas in Los AngelesBusiness Wire
UBS
Sec Filings
- 4/16/24 - Form 6-K
- 4/2/24 - Form IRANNOTICE
- 3/28/24 - Form 6-K
- UBS's page on the SEC website