UBS sells its 50% stake in Swisscard to American Express-March 2024-www.financetom.com

UBS sells its 50% stake in Swisscard to American Express

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UBS sells its 50% stake in Swisscard to American Express

Oct 20, 2024 10:56 PM

ZURICH, Oct 21 (Reuters) - UBS is offloading

part of the Credit Suisse business it acquired last year with a

deal to sell the fallen bank's 50% stake in credit card provider

Swisscard.

UBS will sell its 50% holding in the company to its joint

venture partner American Express ( AXP ), Swisscard said in a

statement.

Terms of the deal were not disclosed.

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