INTL FCStone Agrees To Buy Luxembourg-based Carl Kliem; Terms Not Disclosed

(RTTNews) - INTL FCStone Inc. (INTL), a provider of financial-services execution, risk management, market intelligence, and post-trade services, announced Wednesday that it has executed a sale and purchase agreement to acquire Carl Kliem S.A, of Luxembourg. INTL FCStone said its acquisition price is not material to the company.

Closing is conditional upon approval of the Commission de Surveillance du Secteur Financier.

Carl Kliem is an independent interdealer broker, which provides foreign exchange, interest rate and fixed income products to a diverse, institutional client base across the European Union. Carl Kliem employs approximately 40 people and has over 400 active institutional clients.

Philip Smith, Chief Executive, EMEA, said, "This acquisition represents a tremendous opportunity to leverage a very strong European client base with the full breadth of product offering available within the INTL FCStone group. At the same time this acquisition provides an EU-based footprint for INTL FCStone post Brexit."