LeapRate Exclusive… LeapRate has learned
that embattled retail forex broker FXCM Inc (NYSE:FXCM) is very close to
effecting a sale of its institutional brokerage arm FXCMPro.
M&A discussions around FXCMPro began virtually immediately after FXCM received a $300 million lifeline from Leucadia National Corp (NYSE:LUK) just under two weeks ago. FXCM stated at the time that it intended to sell non-core assets to help repay the loan from Leucadia. We (and most in the industry) understood ‘non-core assets’ to mean that everything will go except FXCM’s core retail forex brokerage franchise.
Another Leucadia company, investment banking firm Jefferies LLC, is acting as adviser and doing most of the work in finding a buyer for FXCMPro.
Read more at Click here / www.trade4x.net
M&A discussions around FXCMPro began virtually immediately after FXCM received a $300 million lifeline from Leucadia National Corp (NYSE:LUK) just under two weeks ago. FXCM stated at the time that it intended to sell non-core assets to help repay the loan from Leucadia. We (and most in the industry) understood ‘non-core assets’ to mean that everything will go except FXCM’s core retail forex brokerage franchise.
Another Leucadia company, investment banking firm Jefferies LLC, is acting as adviser and doing most of the work in finding a buyer for FXCMPro.
Read more at Click here / www.trade4x.net
No comments:
Post a Comment