28th Dec 2007 07:54
Standard Chartered PLC28 December 2007 STANDARD CHARTERED PLC'S CONTRACT WITH UBS FOR THE DISPOSAL OF ITS INDIA FUND MANAGEMENT BUSINESS HAS EXPIRED 28 December 2007 Standard Chartered PLC's contract with UBS for the disposal of its India fundmanagement business has expired. Standard Chartered PLC ("Standard Chartered") announces that its subsidiarycompany, Standard Chartered Bank, will not proceed with the planned disposal ofits India fund management business to UBS AG ("UBS"). The Sale and Purchase Agreement that was signed with UBS in January 2007 wasconditional upon UBS securing certain regulatory approvals which have not beengranted. Throughout this year, this business has continued to grow and operate normally.Standard Chartered will now seek a new buyer by reinitiating the tender process. For further information, contact: Stephen Atkinson, Head of Investor Relations Tel: +44 20 7280 7245 [email protected] Tim Baxter, Head of External Communications Tel: + 44 (0)20 7457 5573 [email protected] --- ENDS --- Notes for Editors Standard Chartered PLC Standard Chartered PLC, listed on both the London Stock Exchange and the HongKong Stock Exchange, ranks among the top 25 companies in the FTSE-100 by marketcapitalisation. The London-headquartered group has operated for over 150 yearsin some of the world's most dynamic markets, leading the way in Asia, Africa andthe Middle East. Its income and the number of employees have more than doubledover the last five years primarily as a result of organic growth andsupplemented by acquisitions. Standard Chartered aspires to be the best international bank in its markets bybeing the right partner for its stakeholders and leading by example. The groupnow employs over 60,000 people, representing some 100 nationalities, in morethan 1,400 branches located in over 50 countries. The bank generates more than90 per cent of its profits from Asia, Africa and the Middle East, with balancedincome derived from both Wholesale and Consumer Banking. The group is committed to building a sustainable business over the long term andis trusted worldwide for upholding high standards of corporate governance,social responsibility, environmental protection and employee diversity. For moreinformation, please visit: www.standardchartered.com UBS UBS is one of the world's leading financial firms, serving a discerning globalclient base. As an organization, it combines financial strength with aninternational culture that embraces change. As an integrated firm, UBS createsadded value for clients by drawing on the combined resources and expertise ofall its businesses. UBS is the leading global wealth manager, a top tier investment banking andsecurities firm, and one of the largest global asset managers. In Switzerland,UBS is the market leader in retail and commercial banking. UBS is present in all major financial centers worldwide. It has offices in 50countries, with about 39% of its employees working in the Americas, 33% inSwitzerland, 16% in the rest of Europe and 12% in Asia Pacific. UBS's financialbusinesses employ more than 80,000 people around the world. Its shares arelisted on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) andthe Tokyo Stock Exchange (TSE). UBS Global Asset Management is one of the world's leading asset managers,providing traditional, alternative and real estate investment managementsolutions to private clients, financial intermediaries and institutionalinvestors worldwide. Invested assets totalled some CHF 933 billion at 30thSeptember 2007, making the firm one of the largest global institutional assetmanagers, a leading fund house in Europe and the largest mutual fund manager inSwitzerland3. UBS Global Asset Management has over 3,500 employees located in 25 countries,and our main offices are in Basel, Chicago, Frankfurt, Grand Cayman, Hartford,Hong Kong, London, Luxembourg, New York, Rio de Janeiro, Sydney, Tokyo, Torontoand Zurich. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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