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Marex Closes $220M Deal to Buy ED&F Man Capital Markets | business news

A London-based commodities broker controlled by a group of former Lehman Brothers executives is set to complete the acquisition of a major industry peer this week.

Sky News has learned that Marex Group will announce on Monday that it has reached an agreement to buy ED&F Man Capital Markets from ED&F Man Holdings.

The purchase price is expected to be around $220 million, a bank source said this weekend.

The transaction is important for Marex, which had been preparing plans to list on the London Stock Exchange last year but canceled the move due to difficult market conditions.

A medium-term revival of his plans is a strong possibility, City sources believe.

The acquisition of ED&F Man Capital Markets will strengthen Marex by expanding its operations in the US and the Middle East and Asia.

The merger of the companies will also strengthen Marex’s clearing operations and expand its metals, fixed income and equities businesses.

ED&F Man Capital Markets has around 450 employees – most of them in the US – who will transfer to Marex.

The acquisition is expected to be completed by the end of the year, subject to regulatory approvals, a source said.

Marex is controlled by the JRJ Group, which was founded by Jeremy Isaacs and Roger Nagioff, who were among Lehman’s oldest and most respected executives.

A spokesman for Marex declined to comment.

Marex Closes $220M Deal to Buy ED&F Man Capital Markets | business news

Source link Marex Closes $220M Deal to Buy ED&F Man Capital Markets | business news

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