UBS - Closing Chapter: UBS And Apollo Wrap Up Agreements Marking Carve-Out Of Former Credit Suisse Business | Benzinga
UBS Group AG (NYSE:UBS) inked a deal with Apollo Global Management Inc. (NYSE:APO), under which ATLAS SP has concluded its Transition Services Agreement with the Swiss bank.
As part of this deal, Apollo will purchase senior secured financing facilities worth $8 billion from UBS and the bank will close out its Investment Management Agreement with Atlas.
The deal is part of UBS’ strategy of winding down and simplifying its Non-Core and Legacy (NCL) portfolio while reducing risk-weighted assets and leverage ratio ...