Clearstream takes over Fondcenter
Clearstream has agreed to acquire a majority stake in UBS's fund distribution platform Fondcenter.
Clearstream, the Deutsche Börse owned post-trade services provider, will buy 51% of Zurich-based fund distribution platform Fondcenter for Sfr389m (£308m), with UBS retaining a 49% stake in the business.As part of the deal, UBS and Clearstream have agreed long-term commercial cooperation arrangements involving the provision of services ...
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