A Leading Indian wealth management firm has announced its plan to acquire the onshore India wealth business of UBS AG through its subsidiaries for a net consideration of ₹307 crore. UBS, in return, will also purchase warrants amounting to a 4.95% stake in this company
Price action
360 ONE WAM Ltd, an Indian wealth management company with a market capitalization of Rs 37,487 crores on Tuesday, is currently trading at a CMP of Rs 966.90, which is close to 1.5 percent up from its previous day’s closing of Rs 949.
What’s the news?
360 ONE, one of India’s largest independent wealth and asset management firms, announced today that it has entered into an exclusive strategic collaboration with UBS, one of the world’s leading wealth managers and universal banking firms headquartered in Switzerland. This exclusive strategic collaboration combines 360 ONE’s local knowledge and reach with UBS’s global and regional expertise to deliver enhanced benefits to clients.
360 ONE WAM Ltd has also announced that it will acquire UBS’s onshore wealth management business in India through its subsidiaries for a net consideration of ₹307 crore. UBS will also purchase warrants amounting to a 4.95% stake in 360 ONE, demonstrating UBS’s commitment to the fast-growing ultra and high-net-worth Indian market.
Managements comments:
Akhil Gupta, Chairman, 360 ONE WAM, said, “This collaboration represents a strategic leap forward for both 360 ONE WAM and UBS AG—one that strengthens our position as a market leader in India and UBS’s offering as the wealth manager of choice for Global Indians. With this transaction, it opens the way for a global, personalized, and sophisticated wealth management experience for both sets of clients as well as significant value enhancement to our employees and shareholders.”
Mihir Doshi, India Country Head, UBS, said: “We are excited about this strategic collaboration with 360 ONE, which will significantly enhance the local offering for our clients, giving them access to best-in-class wealth-management capabilities, both onshore and offshore. 360 ONE’s robust onshore presence, combined with our international Non-resident Indian (NRI) hubs, enables us to bring the best of India to the rest of the world and the world to India.
About the companies:
360 ONE WAM Ltd is one of the largest private wealth management firms in India. The company mainly acts as a wealth manager and provides services relating to financial products distribution, advisory, and portfolio management services by mobilizing funds and assets of various classes of investors, including High Networth Individuals.
UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe.
It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages US$6.1 trillion of invested assets as of the fourth quarter of 2024. UBS helps clients achieve their financial goals through personalized advice, solutions, and products.
Written by Likesh Babu S
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