* UBS to pay $112 mln for Link Investimentos
* Buy will strengthen UBS' wealth, asset mgmt in Brazil
ZURICH, April 29 Switzerland's UBS
(UBS.N)UBSN.VX said on Thursday it would buy Brazilian
brokerage Link Investimentos, a move that will help the bank
beef up its wealth and asset management businesses in the
The buy is a small indication of a reversal of fortunes at
UBS, which almost exactly a year ago was forced to sell off its
highly profitable Brazilian investment bank Pactualas losses
mounted during the financial crisis and the bank was hit by a
damaging tax dispute with the U.S. authorities.
"We view Brazil as a strategically important market with
significant growth potential," said Alex Wilmott-Sitwell, co-CEO
of UBS Investment Bank, in a statement.
UBS said the transaction will cost around $112 million and
is expected to close in the fourth quarter of 2010 subject to
approval from the central Bank of Brazil.
(Reporting by Martin de Sa'Pinto; Editing by David Holmes)