**Summary:**
The Competition Commission of India (CCI) has approved the acquisition of certain businesses of UBS AG by 360 ONE entities. This proposed combination involves the following:
1. **Acquisition by 360 ONE:**
* 360 ONE Portfolio Managers Limited (360 Portfolio) will acquire the portfolio management services (PMS) business of Credit Suisse Securities India Private Limited (CS Securities) in India.
* 360 ONE Distribution Services Limited (360 Distribution) will acquire the stock broking services and financial product distribution services of CS Securities.
* 360 ONE Prime Limited (360 Prime) will acquire the loan portfolio, part of the lending and financing business of UBS Finance India Private Limited (UBS Finance), operating as a systematically important non-deposit taking non-banking financial company.
2. **Subscription to Warrants:**
* UBS AG will subscribe to warrants of 360 ONE WAM Limited (360 OWL), amounting to up to 4.95% of the paid-up share capital of 360 OWL.
UBS AG, a wholly-owned subsidiary of UBS Group AG, is a multinational investment bank and financial services company based in Switzerland. 360 OWL is the ultimate parent entity of the 360 ONE Group, an Indian wealth and asset management firm catering to high net worth and ultra-high net worth individuals and institutional clients. 360 Prime offers financial products like loans against securities and property. 360 Portfolio provides asset management services and services related to alternative investment funds and PMS. 360 Distribution is a registered distributor of financial products and a stockbroker/depository participant.
The detailed order of the Commission will be released subsequently.
Key Entities Referenced
Competition Commission of India: The antitrust regulator in India responsible for enforcing the Competition Act, 2002 and promoting fair competition.
UBS AG: A multinational investment bank and financial services company founded and based in Switzerland. The target of the acquisition.
360 ONE Entities: The acquirer of certain businesses of UBS AG. Includes 360 ONE Portfolio Managers Limited, 360 ONE Distribution Services Limited and 360 ONE Prime Limited.
Credit Suisse Securities India Private Limited: A company in India whose portfolio management services (PMS) business is being acquired by 360 ONE Portfolio Managers Limited.
360 ONE Portfolio Managers Limited: A wholly owned subsidiary of 360 ONE WAM Limited acquiring the portfolio management services (PMS) business of Credit Suisse Securities India Private Limited.
360 ONE Distribution Services Limited: A wholly owned subsidiary of 360 ONE WAM Limited acquiring the stock broking services and financial product distribution services of CS Securities.
UBS Finance India Private Limited: A company in India whose loan portfolio is being acquired by 360 ONE Prime Limited.
360 ONE Prime Limited: A wholly owned subsidiary of 360 ONE WAM Limited acquiring the loan portfolio of UBS Finance India Private Limited.
Competition Commission of India
Commission approves acquisition of certain
businesses of UBS AG by 360 ONE Entities
Posted On: 08 JUL 2025 7:18PM by PIB Delhi
The proposed combination comprises: (i) acquisition of: (a) portfolio management services (PMS) business of
Credit Suisse Securities (India) Private Limited (CS Securities) in India by 360 ONE Portfolio Managers
Limited (360 Portfolio); (b) stock broking services and financial product distribution services of CS
Securities by 360 ONE Distribution Services Limited (360 Distribution); and (c) loan portfolio which forms
part of lending and financing business, of UBS Finance India Private Limited (UBS Finance), undertaken as a
systematically important non-deposit taking non-banking financial company by 360 ONE Prime Limited (360
Prime); and (ii) subscription to warrants of 360 ONE WAM Limited (360 OWL) amounting up to ~4.95% of
the paid up share capital of 360 OWL by UBS AG.
UBS AG is a direct 100% subsidiary of UBS Group AG (UBS) and together with its subsidiaries, UBS AG is
the operating entity of the UBS group. UBS is a multinational investment bank and financial services
company founded and based in Switzerland, and active globally.
360 OWL is the ultimate parent entity of the 360 ONE Group. It is a wealth and asset management firm in
India and serves high net-worth and ultra-high net worth individuals, institutional clients etc., through tailored
wealth management solutions.
360 Prime, 360 Portfolio and 360 Distribution are wholly owned subsidiaries of 360 OWL. 360 Prime offers a
broad suite of financial products such as loans against securities, loans against property, etc. to corporate and
high net worth clients. 360 Portfolio is engaged in the provision of asset management services, provision of
services in relation to alternative investment funds, and provision of PMS. 360 Distribution is registered with
the Association of Mutual Funds in India for distribution of financial products and is registered with the
Securities and Exchange Board of India as a stockbroker and a depository participant.
Detailed order of the Commission will follow.
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NB/AD
(Release ID: 2143207)