FXCM sells $36 million stake in business
US firm sells third non-core asset
Retail foreign exchange broker FXCM has paid back more of its $300 million loan from Leucadia National Corporation with the sale of its Hong Kong subsidiary to Rakuten Securities for $36 million on May 28.
The Asian subsidiary is the second in the region to be offloaded, following FXCM Japan in March for $62 million, also to Rakuten, racking up $98 million combined in publicly disclosed sold assets. The deal is expected to be completed in the third quarter.
"We are pleased to extend our
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