logo
Plus   Neg
Share
Email

Julius Baer Buys Majority Stake In NSC Asesores

Julius Baer (JBARF.PK,JBAXY.PK) said that it has increased its stake in NSC Asesores by acquiring an additional participation of 30% of the company, following its initial purchase of 40% in 2015. The transaction will significantly strengthen Julius Baer's and NSC Asesores' position in Mexico.

NSC Asesores manages client assets of approximately US$3.5 billion. The transaction is immediately accretive to Julius Baer's earnings per share and will have a modest impact on the Group's capital ratios.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
RELATED NEWS
Follow RTT