January 8, 2018 / 7:11 AM / 5 months ago

BRIEF-TP ICAP acquires U.S.-based SCS Commodities Corp

* ACQUISITION

* HAS ACQUIRED SCS COMMODITIES CORP (“SCS”), AN INDEPENDENT ENERGY AND COMMODITIES BROKER BASED IN US

* SCS IS BEING SOLD BY ITS FIVE PARTNERS WHO TOGETHER OWN 98% OF BUSINESS, AND BY A CORPORATE ENTITY WHICH OWNS REMAINING 2%

* PRIMARY PARTNERS WHO ARE RESPONSIBLE FOR GENERATING REVENUES WILL REMAIN WITH BUSINESS AFTER ACQUISITION AND CONTINUE TO DEVELOP IT

* SCS WILL BECOME PART OF TP ICAP’S ENERGY AND COMMODITIES DIVISION

* CONSIDERATION FOR ACQUISITION IS AN INITIAL PAYMENT IN CASH

* FURTHER PERFORMANCE RELATED AMOUNTS, ALSO IN CASH, MAY BE MADE AT VARIOUS DATES OVER NEXT 5 YEARS Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below