FXCM Reaches Final Pact with Leucadia, At Expense of Shareholders?
Posted: Wed Aug 31, 2016 1:09 pm
Retail foreign exchange broker FXCM has just announced a new partnership agreement with Leucadia National Corp., the investment company that bailed out FXCM after the Swiss National Bank event in January 2015. The new agreement between FXCM and Leucadia redrafts the terms of the amended credit agreement and to replace their restated letter agreement, dating back January 2015.
After it struck a new deal with the currency-trading firm, in order to give the business more time to exit some holdings, Leucadia now owns a 49.9% membership interest in FXCM Group, while the New York-based foreign-exchange broker will retain the remaining 50.1% ... (read more)