Inter-dealer broker GFI is set to pay $86 million in cash for most of Amerex's assets in North America, including its energy brokerage operations in Sugar Land, Texas. Subject to standard closing conditions, completion is scheduled before the end of October.
Founded in 1978, Amerex's North American brokerage business has a dominant share in many of the US energy markets, particularly in the natural gas marketplace.
GFI is not acquiring Amerex's businesses in the UK, Japan and Singapore. These
- Brexit novations ‘on hold’ to gain reg relief
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Banks hope final FRTB rules will ease NMRF burden
- Mifid data publishers drag feet on Esma guidelines
- Sefs, Libor fallbacks and risk governance in Asia