American Express to acquire a 50% stake in Swisscard from UBS.

American Express, a global financial services company, agreed to acquire a 50% stake in Swisscard, a financial services company offering all worldwide credit card brands in Switzerland, from UBS, a global financial services company. Financial terms were not disclosed. Swisscard will continue to issue all the other card portfolios it issues under the American Express, Mastercard and Visa licenses, and will continue to operate the American Express acquiring business in Switzerland.