New Delhi [India], July 9 (ANI): The Competition Commission of India (CCI) approved the acquisition of wealth and lending units of UBS AG by 360 ONE Group entities. According to the Competition Commission of India, the transaction involves the transfer of key financial services operations, including portfolio management, stock broking, distribution, and lending from UBS AG to the 360 ONE entities.The proposal approved by the Competition Commission suggests that 360 ONE Portfolio Managers Limited will acquire the portfolio management services business of Credit Suisse Securities (India) Private Limited. Simultaneously, 360 ONE Distribution Services Limited will take over the stock broking and financial product distribution services of the same entity. Additionally, 360 ONE Prime Limited will acquire the loan portfolio and financing business of UBS Finance India Private Limited, a non-banking financial company classified as systemically important. As part of the broader transaction, UBS AG will also subscribe to warrants of 360 ONE WAM Limited, securing a stake of approximately 4.95 per cent in the company's paid-up share capital.UBS AG is a direct 100 per cent subsidiary of UBS Group AG (UBS) and together with its subsidiaries, UBS AG is the operating entity of the UBS group.UBS is a multinational investment bank and financial services company founded and based in Switzerland, and active globally.360 OWL is the ultimate parent entity of the 360 ONE Group. It is a wealth and asset management firm in India and serves high net-worth and ultra-high net worth individuals, institutional clients, etc., through tailored wealth management solutions.Its subsidiaries, 360 Prime, 360 Portfolio, and 360 Distribution, are involved in lending, asset management, and financial product distribution.360 Prime provides a range of financial services, including loans against securities and property for corporates and affluent individuals. 360 Portfolio manages various investment services, while 360 Distribution is registered with the Association of Mutual Funds in India and the Securities and Exchange Board of India, both as a stockbroker and a depository participant. (ANI)