UBS To Buy AIG Commodity Index Business
January 19, 2009 9:25 pm
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UBS Investment Bank announced yesterday that it has entered into a binding agreement to purchase the commodity index business of AIG Financial Products Corp., including AIG's rights to the DJ-AIG Commodity Index, which is used as the benchmark for a number of broad commodity ETFs.
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. The closing is subject to a number of regulatory and other conditions. No assurances can be given that any such conditions will be satisfied. |
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