New Delhi: The Competition Commission of India (CCI) today approved the proposed merger of Credit Suisse Group AG with UBS Group AG. The proposed combination entails UBS’s proposed acquisition of Credit Suisse by way of an absorption merger with UBS being the surviving legal entity.
Detailed order of the CCI will follow.
The UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland, and active globally. UBS’ businesses comprise wealth management, asset management, investment banking services, and retail and corporate banking. In India, UBS’ business is primarily focused on brokerage services.
Credit Suisse Group AG (Credit Suisse) is a multinational investment bank and financial services company founded and based in Switzerland. Credit Suisse is active globally and its businesses comprise wealth management, asset management, investment banking services, and retail and corporate banking. In India, Credit Suisse’s businesses comprise wealth management and investment banking services.
– global bihari bureau
