UBS Mulls Credit Suisse China Stake Swap With Beijing Government

UBS Group AGis in discussions to attain full ownership of its China platform by swapping its holding in Credit Suisse’s onshore securities venture with a Beijing government investment fund, according to people familiar with the matter.

The Zurich-based lender is proposing to buy the 33% stake held by Beijing State-Owned Assets Management Co. in their joint venture UBS Securities Co., the people said, asking not to be identified discussing a private matter. In return, UBS will sell part of or its entire 51% stake in Credit Suisse Securities (China) to the Beijing government fund, said the people.

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