Commodity broker Marex has agreed to buy rival ED&F Man Capital Markets to boost its metals business and expand in fixed income and equities, Marex said on Monday.
A source close to the situation said the takeover by Marex, one of the world's largest privately-owned commodities brokers, was worth $220 million.
The two brokers said in early July they had entered into exclusive talks about the transaction, which leaves the London Metal Exchange with one less ring-dealing member.ED&F Man Capital Markets , the financial services division of ED&F Man Group, has 450 employees globally and posted over $235 million of revenues in 2021. Marex had $543 million in revenue last year.
"This acquisition creates a more competitive, diversified and resilient firm," Marex Chief Executive Ian Lowitt said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Op-Ed: The debt crisis that sick Americans can't avoidOp-Ed: An estimated 100 million Americans have medical debt, and 18% say they will never be able to pay off what they owe. (via latimesopinion)
Baca lebih lajut »
Op-Ed: Moving in with your parents could be good for AmericaIt’s possible that multigenerational housing arrangements, created by socioeconomic pressures, could result in more tolerance for divergent views.
Baca lebih lajut »
A critical voice on higher ed from an unusual place: Temple president Jason Wingard lays out what needs to change in a new bookJason Wingard wrote 'The College Devaluation Crisis,' and then accepted the job to run Temple University. Here's how he's trying to make change there.
Baca lebih lajut »
Atlantic International Capital launches sports marketing program for US crypto companiesAtlantic International Capital Digital Asset Group (AIC) is ready to provide a portfolio of financial products and services that drive innovative and customized crypto sponsorship solutions.
Baca lebih lajut »