: UBS may try to renegotiate deal terms with Apollo after sale of securitized products unit: Bloomberg

UBS AG UBS executives may seek to renegotiate the sale Credit Suisse’s securitized products unit (SPG) to Apollo Global Management Inc. APO partly because of the fees that Credit Suisse agreed to pay Apollo, Bloomberg reported on Tuesday. Citing people familiar with the situation, Bloomberg said Apollo would have to agree to re-open deal talks after Credit Suisse inked the deal prior to UBS’s distressed acquisition of its fellow Swiss bank earlier this year. UBS may try to re-work some of the fees that Credit Suisse pledged to pay Apollo to handle assets on its books, the report said. Spokespeople from UBS and Apollo declined to comment, the report said. Separately, Apollo Global management stock hit a 52-week high of $88.86 a share during trading on Tuesday, amid speculation that the company could join the S&P 500 SPX after Blackstone Inc. BX

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