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The Economic Times
The Economic Times
Business
Debaroti Adhikary

UBS acquires 4.8% stake in wealth manager 360 ONE WAM through warrant exercise

UBS 360 ONE WAM Mumbai

UBS has acquired a 4.8% stake in Mumbai-based wealth manager 360 ONE WAM after converting warrants allotted to it last year into equity shares, the company said in an exchange filing on Thursday.

The two companies announced a partnership in April last year under which UBS agreed to sell its Indian onshore wealth management business to 360 ONE for about $32 million. As part of the deal, UBS also acquired warrants representing a 4.95% stake in the Indian firm.

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