| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Credit Suisse Group AG (NYSE:CS) and its joint venture partner are looking for buyers for its loss-making China Securities brokerage business.
At one point, Citigroup Inc (NYSE:C) showed interest in buying Credit Suisse Securities China (CSS), Reuters reported.
The decision reflects CS's takeover by UBS Group AG (NYSE:UBS).
Notably, as per Chinese Securities regulations, one entity cannot hold two licenses for majority-owned brokerages.
CS currently owns 51% of CSS and had penned an agreement to buy Founder Securities last year, with the deal presently pending Chinese authority approval.
Also, UBS owns 67% of a securities joint venture with state-owned asset management in Beijing.
Last week, UBS disclosed that it expects to conclude the acquisition of Credit Suisse as early as June 12, 2023.
Price Action: CS shares are trading lower by 0.13% at $0.8760 premarket on the last check on Friday.
