A London-based commodities dealer managed by a gaggle of former Lehman Brothers executives will this week take over a significant business peer.
Sky Information has discovered that Marex Group will announce on Monday that it has reached an settlement to buy ED&F Man Capital Markets from ED&F Man Holdings.
A financial institution supply stated by the tip of this week the acquisition worth is believed to be roughly $220 million.
The transaction will probably be a major one for Marex, which had deliberate to checklist shares on the London Inventory Alternate final 12 months however canceled it as a consequence of tough market situations.
Metropolis sources say the opportunity of a revival of its plans within the medium time period is big.
Absorbing ED&F Man Capital Markets will enhance Marex by increasing its operations within the US, in addition to within the Center East and Asia.
The enterprise mixture may also strengthen Marex’s clearing operations and add to its metals franchise, in addition to its equities and fixed-income operations.
ED&F Man Capital Markets has about 450 workers – most of them within the US – that can transfer to Marex.
A supply stated the takeover is anticipated to be accomplished by the tip of the 12 months.
Marex is managed by the JRJ consortium, whose founders embody Jeremy Isaacs and Roger Nagioff, who had been each Lehman’s most revered and senior executives.
A spokesperson for Marex declined to remark.