The Californer - Astor Capital in Acquisitions Talks with Sunwah Kingsway Capital Holdings

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KOWLOON, Hong Kong - Californer -- Astor Capital is reportedly moving full-bore toward acquiring more broker-dealer firms in Hong Kong and Shenzhen – say several off-the-record sources. As is expected, the financial giant is planning to expand throughout Europe as well. Sources confirmed that talks, while they are in the earliest stages, have begun, with the goal to acquire a larger network of BD firms, in focus.

According to many financial execs in-the-know, as of Friday, Astor Capital Fund had expressed interest in acquiring several broker dealer security firms including one, Sunwah Kingsway Capital Holdings, which is among only one of the potential acquisitions on the list. The multi-entity acquisition deal is thought to be in the US$75 million dollar range, and would certainly make the banking fund more competitive, both domestically and worldwide.

The purported move would convert a group of broker-dealer firms into a cluster of Astor-owned global subsidiaries and would support Astor Capital Fund's already deep-rooted foothold in Europe and Asia. The expansion plans, at least if carried out to completion, would edge close to, or perhaps best J.P. Morgan Chase, in terms of making the Fund one of the biggest players in Hong Kong and Shenzhen by the year 2025.

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However, there still are several issues to be worked out said a source close to the group, and it might culminate in nothing if all parties cannot agree to finalize terms.

Thomas Mellon, CEO of Astor Capital Fund, said Tuesday, that "…reports of serious talks regarding the acquisitions of BD firms throughout Hong Kong and other regions, are at this juncture, pure speculation and hyperbole." While he acknowledged that many private firms are interested in negotiating, he added, "I have made no affirmative statement regarding current negotiations as it pertains to future BD acquisitions."

But execs in Hong King, have said off the record, that talks have begun, and when the ink is dry, the final numbers could exceed a staggering US$100 million dollar Astor Capital Acquisition, strengthening its roots in Hong Kong and Shenzhen significantly.

Having expanded their technology and sustainability platforms throughout Europe and Asia at the end of last year, the move toward global banking and BD acquisitions, is only natural for the banking institution. Executives in the Astor universe could not be reached for comment, but Oliver Hawthorne, Director of Marketing, did reveal Monday, "Talks are just that, just talks," seeming to confirm, albeit not with fierce conviction, that talks have indeed begun.

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