ACM re-acquires ex-Refco shareholding
NEWS
The deal, negotiated a year after the collapse of Refco in October 2005, sees the initial offered buyback price reduced to approximately Sfr25 million ($20 million).
ACM is re-acquiring a stake that Refco had bought for an undisclosed sum in June 2004 (FX Week, July 5, 2004). The sale was hoped to boost the platform's standing in the high-net-worth and institutional market.
In the wake of the default of its majority shareholder, ACM picked up "a good number of ex-Refco clients", with only a
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