EFG plc has agreed to buy the Luxembourg - based private banking activities of UBI Banca International , subject to regulatory approval ; completion is expected to be during the first quarter of 2019 . UBI 's Madrid and overseas branches are not included in the deal , as are its fiduciary and corporate banking subsidiaries . The financial terms of the deal have not been disclosed .
EFG International has agreed to buy the Luxembourg-based private banking activities of UBI Banca International, subject to regulatory approval; completion is expected to be during the first half of 2017. UBI's Madrid and Munich branches are not included in the deal, as are its fiduciary and corporate banking activities. The financial terms of the deal have not been disclosed.