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DGAP-News: INTL FCStone in Negotiations to Acquire TRX Futures Limited
ID: 543122
(firmenpresse) - INTL FCStone Inc.
19.12.2011 22:58
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NEW YORK, 2011-12-19 22:58 CET (GLOBE NEWSWIRE) --
INTL FCStone Inc. (Nasdaq:INTL) today announced that its United Kingdom
subsidiary, INTL Holding (UK) Limited, has entered into a memorandum of
understanding with Neumann Gruppe GmbH to acquire its subsidiary TRX Futures
Limited ('TRX'), subject to contract and to the approval of the Financial
Services Authority in the United Kingdom. INTL Holding (UK) Limited is also the
UK holding company of INTL FCStone (Europe) Limited, a member of the London
Metal Exchange and London Clearing House.
TRX is a London-based niche clearing firm for commercial coffee and cocoa
customers, as well as energy and financial products. It is a member of NYSE
Liffe and ICE Futures UK. TRX's clients and employees will benefit from INTL
FCStone's infrastructure, commodities expertise and comprehensive array of
exchange traded and over-the-counter products. TRX's competence and long-term
relationships with commercial clients will complement INTL FCStone's existing
operations.
Neumann Gruppe's physical coffee trading and service business will continue to
clear its futures contracts through TRX after completion of the transaction.
Philip Smith, Chief Executive of INTL Holding (UK) Limited, said, 'This is an
exciting opportunity to expand our soft commodities capabilities globally. TRX
are a highly regarded presence in this sector, and we look forward to building
upon their success as part of our group.'
David Neumann, Speaker of the Board of Management of Neumann Gruppe, said 'We
are convinced that this is an excellent way forward and will allow both
companies to further develop their respective successful business models.'
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 20,000 commercial customers through a network of offices 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 materially
from 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.
CONTACT: INTL FCStone Inc.
Bill Dunaway
866-522-7188
bdunaway(at)intlassets.com
News Source: NASDAQ OMX
19.12.2011 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,
Financial/Corporate News and Press Releases.
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: 19.12.2011 - 22:58 Uhr
Sprache: Deutsch
News-ID 543122
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