360 ONE Gets NSE Nod To Buy Credit Suisse Broking, Distribution Biz In India

360 ONE WAM Ltd. on Saturday said its unit, 360 ONE Distribution Services Ltd., has received approval from the National Stock Exchange to acquire Credit Suisse Securities (India) Pvt. Ltd.'s broking and distribution business on a slump sale basis.

The transaction is part of a broader strategic partnership with UBS AG to deepen wealth management offerings, announced in April. Under this deal, UBS will pick up a 4.95% stake in 360 ONE WAM via warrant purchase, while the Indian company will acquire UBS’s onshore wealth business for ₹3.07 billion.