A followup to LeapRate’s article from earlier today about the completion of the deal between FXCM Asia and Rakuten Securities, a subsidiary of Rakuten Inc (TYO:4755)…
US Forex broker FXCM Inc (NYSE:FXCM) has just confirmed that the deal was successfully completed and that FXCM Asia was sold for approximately $38 million.
As a result of the deal finalization, FXCM anticipates repaying $33 million outstanding under its credit agreement with Leucadia and will have repaid $115 million to date, leaving $195 million remaining.
“The company remains focused on completing our near-term strategy of eliminating the Leucadia debt through the sale of non-core assets and cash generated through operations as well as accelerating the growth of our core business through a number of FX and CFD initiatives,” said Drew Niv, CEO of FXCM. “With the close of this deal we have made another positive step towards completing our goals.”
In April this year, FXCM finalized the sale of its Japanese operations for $62 million. FXCM Japan was also sold to Rakuten Sec.
To view the official announcement by FXCM, click here.