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BRIEF-Interdealer Broker TP ICAP Buys Agency Broker Coex Partners
November 30, 2017 / 7:32 AM / 18 days ago

BRIEF-Interdealer Broker TP ICAP Buys Agency Broker Coex Partners

Nov 30 (Reuters) - Tp Icap Plc:

* TP ICAP PLC - ANNOUNCES ACQUISITION OF COEX PARTNERS LIMITED

* TP ICAP PLC - IT HAS TODAY ACQUIRED COEX PARTNERS LIMITED (“COEX”), AN INDEPENDENT AGENCY BROKER

* TP ICAP PLC - JOHN RUSKIN AND ALEX GERSKOWITCH, FOUNDERS AND SENIOR MANAGEMENT, WILL REMAIN WITH BUSINESS AND CONTINUE TO BUILD IT

* TP ICAP PLC - TP ICAP AND COEX BEGAN WORKING TOGETHER IN 2016 AND ACQUISITION IS A NATURAL PROGRESSION OF THAT COLLABORATION

* TP ICAP PLC - COEX WILL BECOME PART OF TP ICAP‘S INSTITUTIONAL SERVICES DIVISION

* TP ICAP PLC - ACQUISITION CONTINUES EXPANSION OF INSTITUTIONAL SERVICES DIVISION‘S SPECIALIST EXECUTION EXPERTISE AND PRODUCT RANGE

* TP ICAP PLC - INITIAL PAYMENT FOR ACQUISITION (INCLUDING SETTLEMENT OF EXISTING SHAREHOLDER LOANS) IS £7.1M IN CASH

* TP ICAP PLC - PERFORMANCE-RELATED PAYMENTS MAY BE MADE AT VARIOUS DATES DURING NEXT 4 YEARS

* TP ICAP PLC - SUBSEQUENT PAYMENTS WILL BE SATISFIED THROUGH ISSUE OF NEW ORDINARY SHARES IN COMPANY OR CASH, AT DISCRETION OF COMPANY Source text for Eikon: Further company coverage:

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