INTL FCStone, , announced this Wednesday that its subsidiary INTL Netherlands B.V. has executed a sale and purchase agreement to acquire CoinInvest GmbH and European Precious Metal Trading GmbH.
The acquisition will be effective once the transaction has been closed, which is currently scheduled for the beginning of April this year, according to the statement released by the company.
INTL FCStone operates one of the largest , whereas CoinInvest GmbH and European Precious Metal Trading GmbH are online providers of gold, silver, platinum and palladium products to financial advisors, private individuals and institutional investors.
The financial firm’s precious metals division provides its clients with trading capabilities and access to metals markets through its offices in London, Singapore, Shanghai and Dubai.
Source: LinkedIn
“Through this new capability, our clients will be able to purchase physical gold and other precious metals, in multiple forms, and in denominations of their choice, to add to their investment portfolios. Our model is to continue to invest and develop technology that advances the precious metals industry.
“This acquisition is another example of us delivering against our long-term goal to build a unique global franchise that delivers client solutions throughout every part of the precious metals lifecycle, from mine site to the private investor.”
The brokerage’s precious metals division specialises in serving bullion wholesalers and traders, as well as refiners and smelters, government agencies, as well as banks and financial institutions, among others.
INTL FCStone Continues to Expand
The news today follows on from an earlier announcement from the New York-headquartered company when it announced that it had received the relevant regulatory approval to , an institutional fixed income boutique specialising in emerging market debt, bonds, and asset-backed securities.
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