DGAP-News: INTL FCStone Completes Negotiations to Acquire Ambrian Commodities
ID: 383117
07.04.2011 13:00
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NEW YORK, 2011-04-07 13:00 CEST (GLOBE NEWSWIRE) --
INTL FCStone Inc. (Nasdaq:INTL), today announced that INTL Global Currencies
Limited, its wholly-owned subsidiary in the United Kingdom, has agreed to
acquire 100 percent of Ambrian Commodities Limited ('ACL'), the London Metals
Exchange ('LME') brokerage subsidiary of Ambrian Capital Plc. The London-based
ACL, currently a non-clearing LME member, specializes in the development and
execution of risk-management programs designed to hedge price fluctuations in
base metals for a wide variety of producers, manufacturers and fabricators.
The purchase consideration will be equal to net asset value. The acquisition is
not expected to have any immediate impact on INTL FCStone's earnings.
The acquisition is conditional upon the approval by the UK Financial Services
Authority of the proposed change of control of ACL, following which the company
will be renamed INTL FCStone (Europe) Limited.
'This acquisition allows us to fill the last remaining gap in our portfolio of
physical commodity risk-management advisory and execution services, and in
particular will allow us to offer our customers a full range of hedging
alternatives through the London Metals Exchange,' commented Sean O'Connor, CEO
of INTL FCStone.
Philip Smith, Managing Director of INTL Global Currencies, commented, 'We see
this acquisition as an exceptional opportunity that will serve as a launching
pad for our group's capabilities in Europe. At the same time, INTL FCStone's
strategic focus and financial resources will allow us to maximize the potential
of Ambrian Commodities' established client network and management team.'
About INTL FCStone Inc.
INTL FCStone Inc. provides execution and advisory services in commodities,
currencies and international securities. INTL FCStone's businesses, which
include the commodities advisory and transaction execution firm FCStone Group,
serve more than 10,000 commercial customers in more than 100 countries through
a network of offices in eleven countries around the world. Further information
on INTL FCStone Inc. is available at www.intlfcstone.com.
Forward Looking Statements
This press release includes forward-looking statements including statements
regarding the combined company. All statements other than statements of current
or historical fact contained in this press release are forward-looking
statements. The words 'believe,' 'expect,' 'anticipate,' 'should,' 'plan,'
'will,' 'may,' 'could,' 'intend,' 'estimate,' 'predict,' 'potential,'
'continue' or the negative of these terms and similar expressions, as they
relate to INTL FCStone Inc., are intended to identify forward-looking
statements.
These forward-looking statements are based largely on current expectations and
projections about future events and financial trends that may affect the
financial condition, results of operations, business strategy and financial
needs of the combined company. They can be affected by inaccurate assumptions,
including the risks, uncertainties and assumptions described in the filings
made by INTL FCStone Inc. with the Securities and Exchange Commission. In light
of these risks, uncertainties and assumptions, the forward-looking statements
in this press release may not occur and actual results could differ materiallyfrom those anticipated or implied in the forward-looking statements. When you
consider these forward-looking statements, you should keep in mind these risk
factors and other cautionary statements in this press release.
These forward-looking statements speak only as of the date of this press
release. INTL FCStone Inc. undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Accordingly, readers are cautioned not to place undue
reliance on these forward-looking statements.
INTL FCStone Inc.
Bill Dunaway
866-522-7188
bdunaway@intlassets.com
News Source: NASDAQ OMX
07.04.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: INTL FCStone Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US4590281063
WKN:
End of Announcement DGAP News-Service
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Datum: 07.04.2011 - 13:00 Uhr
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News-ID 383117
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