UBS sells $8b of Credit Suisse assets to Apollo

ZURICH, Mar 27 (Reuters): UBS has sealed the sale of Credit Suisse's securitised products business to Apollo Global Management as part of efforts to shed non-core assets after its takeover of the collapsed banking group.
Apollo will purchase $8 billion of "senior secured financing facilities", UBS said on Wednesday, adding that it expects to make a net gain of about $300 million from the deal.