just now
January 6, 2020 - INTL FCStone Inc. (NASDAQ: INTL) has announced that it acquired IFCM Commodities, GmbH out of Hamburg, Germany, which closed on January 2.
IFCM Commodities specializes in providing commodity price risk management solutions for base metals serving clients across Germany and continental Europe. The company has been working closely with INTL FCStone's Metals Division since 2011, acting as their Tied Agent serving clients in Germany and continental Europe. This purchase is part of INTL FCStone's overall strategic plan to expand the company's footprint in Germany and continental Europe in order to handle European clients and regional metals business, post-Brexit.
Barry Canham, Global Head of Metals at INTL FCStone, commented on today's news "After nearly a decade of working together with INTL FCStone's Metals Team as a strategic partner handling their German client base and trade flows, we look forward to making our partnership with IFCM Commodities official. This is a critical step in our overall strategy to prepare our business lines for any potential disruption due to upcoming regulatory changes that will impact Europe."
Ramon Martul-Franco, CEO of IFCM Commodities GmbH, concluded, "It's exciting to officially formalize our strategic partnership with INTL FCStone combining our teams and complementary capabilities under one roof. We will use our local expertise along with the resources and credibility of INTL FCStone in order to establish a strong foothold to continue providing our clients in the region with excellent service."
In mid-December, 2019 the company also announced the acquisition of the brokerage business of Tellimer Group.
