UBS sells Clearstream stake to Deutsche Börse for €355m
Swiss financial group UBS announced on Thursday it has agreed to sell its remaining minority stake (48.8%) in Clearstream Fund Centre (CFC) to Deutsche Börse AG for approximately CHF 390m (€355.5m). The transaction is expected to close in June 2021 with UBS expected to report a post-tax gain of around $35m and CET1 capital increase of approximately $400m in the second quarter of 2021.
In a statement, UBS said 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 move comes after the transition of UBS Fondcenter to Deutsche Börse in September 2020.
Stephan Leithner, member of the executive board of Deutsche Börse and Clearstream chairman, commented: “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.”