The equities arm of UBS Investment Bank completed on May 6 the acquisition of the commodity index business of AIG Financial Products Corp, including AIGs rights to the Dow Jones-AIG Commodity Index (DJ-AIGCI).
The purchase price for the transaction is $15 million, payable upon closing, and additional payments of up to $135 million over the following 18 months based upon future earnings of the purchased business, UBS reported from New York.
Headquartered in Zurich and Basel, Switzerland, UBS is one of the worlds leading financial firms serving an international client base with wealth management, investment banking and asset management business.
The commodity index business is comprised of a product platform of commodity index swaps and funded notes based on the bench mark DJAIGCI, which will now be called Dow Jones-UBS Commodity Indexes.
The highly regarded DJ-AIGCI is a strategic fit with UBSs existing commodity index, the UBS Bloomberg Constant Maturity Commodity Index, the company said.
Source: Bloomberg.com