UBS plans to sell two of its units to Italy's Generali
Article Abstract:
The new Swiss banking giant, UBS AG announced plans to sell two of its units, Banca della Svizzera Italiana and Bosslab Corp., to the Italian insurance company, Assicurazoni Generali SpA for $1.26 billion. Union Bank of Switzerland and Swiss Bank Corp. merged recently to create UBS, and part of the regulatory approval was conditioned on UBS divesting itself of certain assets. UBS said it would use of the proceeds from the sale to finance its goals in the banking industry and expand the onshore side of the business.
Comment:
To purchase two of UBS' units, Banca della Svizzera Italiana and Bosslab Corp, for $1.26 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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BankAmerica merger is complete, creating behemoth U.S. bank
Article Abstract:
The $43.15 billion merger between NationsBank Corp. and BankAmerica Corp. has been completed. The completion of the merger has formed the second-largest bank in the US. On September 30, 1998, BankAmerica was merged into NationsBank. NationsBank then changed the name of its holding company to BankAmerica, which will have its headquarters in Charlotte, North Carolina. NationsBank's chairman and CEO, Hugh L. McColl Jr., will head the new BankAmerica.
Comment:
$43.15 billion merger between NationsBank Corp. and BankAmerica Corp. is completed
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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