INTL FCStone Inc.
25.11.2011 15:48
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NEW YORK, 2011-11-25 15:48 CET (GLOBE NEWSWIRE) --
INTL FCStone Inc. (Nasdaq:INTL), today announced that INTL FCStone (Europe)
Limited, its wholly owned subsidiary in the United Kingdom, has agreed to
acquire the Metals Division of MF Global UK Limited (in special
administration). As part of this transaction, INTL FCStone (Europe) has
received approval from the London Metal Exchange ('LME') to upgrade its LME
Category Two membership to LME Category One ring dealing membership.
The Metals Division, headed by Fred Demler, has more than 50 professional staff
based in London, New York, Hong Kong and Sydney, and has long-standing client
relationships throughout the world. The Metals Division is a leading LME ring
dealing member providing execution and clearing of LME products and OTC
products to assist commercial customers in hedging their price risk in metals
markets. The Metals Division also serves institutional investors and financial
services firms in the Americas, Europe, and the Asia-Pacific region. Demler
will assume leadership of INTL FCStone's global metals LME futures and
derivatives business.
Sean O'Connor, CEO of INTL FCStone, commented, 'Fred and his metals team add a
well-recognized and leading LME franchise with deep and diverse global
relationships to our growing and profitable company. Our existing significant
physical metals, structured OTC products and corporate finance advisory
services combined with the LME capabilities and relationships should create a
unique metals franchise. With our unwavering focus on customers, our broad
capabilities and our expertise in all commodity verticals, we will now be in a
better position than ever before to offer significant value to our global
customer base.'
'We are all very excited about the acquisition of our global metals team and
see INTL FCStone as having a clear focus on serving customers, especially
mid-market commercial entities where we have a great footprint globally,' added
Demler. 'INTL FCStone has a strong presence across all the other commodity
markets and we believe we can become a leading franchise for them in the
broader metals markets. We anticipate a quick transition, which will allow us
to continue serving our clients' needs with minimal disruption.'
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 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 Dunaway866-522-7188bdunaway@intlassets.com
News Source: NASDAQ OMX
25.11.2011 Dissemination of a Corporate News, transmitted by DGAP -
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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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DGAP-News: INTL FCStone Agrees to Acquire MF Global's Metals Division
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