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Thursday, April 29, 2010

UBS buy Brazilian brokerage Link Investimentos US$112 mio

BI/bursa internasional
29/4/2010

UBS buy Brazilian brokerage Link Investimentos US$112 mio

Irvin Avriano A.
Bisnis Indonesia

JAKARTA: UBS AG agreed to buy a Brazilian brokerage house Link S.A. CCTVM, or Link Investimentos, about US$112 mio.

In an emailed statement, UBS announced the acquiring agreement worth Reais 195 mio, or approximately US$112 mio. The transaction is expected to close during 4Q2010, subject to approval from Central Bank of Brazil.

Link Investimentos was founded in 1998 as an independent broker-dealer, and has offices in São Paulo and Curitiba. Link is one of the largest independent broker-dealers in Brazil with a strong position in equities, equity research and equity derivatives, as well as exchange traded FX, fixed income and commodity products.

Since 2002, Link has been the leader in exchange traded fixed income and exchange traded commodities products in Brazil. Link also provides private wealth management and asset management services. It is a private partnership with 279 staff, including 73 partners.

Under the terms of the transaction, UBS has agreed to acquire 100% of the shares of Link Holding Financeira S.A., that holds all shares of the Link Investimentos. Its businesses will be integrated into the Investment Bank, Wealth Management, andAsset Management divisions of UBS.

Upon closing, the combined entity in Brazil will be re-branded as UBS. UBS will not acquire Link’s retail online brokerage business.

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