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.
More on The Californer
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.
More on The Californer
More at Astor Capital Fund.
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.
More on The Californer
- California: Governor Newsom Launches "Wear a Mask" Public Awareness Campaign in Response to Surge in COVID-19 Cases
- New Online Portal to Make Bill Pay Easier for Customers with User-friendly interface
- Los Angeles Freelance Cryptocurrency Writer – BDN Content Quarterly Update – Q2 2020
- San Francisco: Mayor London Breed Announces City Has Been Awarded Over $130 Million in State Funds for Affordable Housing Development, Transportation, and Infrastructure Improvements
- Law Offices of Charles G. Eichinger & Associates, P.C. Open and Ready to Help
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.
More on The Californer
- American Association for Critical Illness Insurance Announces New Initiative
- Kylie Eaton's Kinetic Film Selected for Indy Short's Indiana Spotlight Program
- New San Diego Office to Launch Snell & Wilmer's First Podcast, CalCurrent
- Torres Law Joins Alliott Group, The World's Sixth-Largest Multidisciplinary Alliance Of Professional Services Firms
- Sequel in Historical Fiction Series Follows Secrets, Murder and Treason During American Civil War
More at Astor Capital Fund.
Source: Astor Capital Fund
Filed Under: Finance
0 Comments
Latest on The Californer
- Importance of using Telehealth in the nonprofit setting, Avi Kerendian
- Frederick County TransIT adds More BYD Buses to its Fleet
- Braeden Lichti - What's the Outlook for Biopharma in 2020?
- Trucker Huss Director Kevin Nolt Named President of WP&BC Governing Board
- Northshore Development secures $47 Million loan to Refinance New Construction Multifamily Development located on Florida's Booming Space Coast
- Best Online Wig Store: Beautyforever launches Glueless Human Hair Wigs
- Chicago Photographer Karen I. Hirsch Pivots During Covid-19 Crisis
- Local Businessman and Community Leader Anders Fung Announces Candidacy for Millbrae City Council
- Ufone Increases Customer Satisfaction while Saving Almost 1,000% with netElastic vBNG
- CEO Coaching International Congratulates Client Gincor Werx on Certification as a Great Place to Work
- Petco Shares Tips for COVID-19 Safe Summer Fun with Pets
- Ms. Ambassador FoRe! Living Royal, Rebecca Mapston, is Crowned Mrs. Transcontinental North America
- Dixie Carpet Installations, Inc. Gets Game-Changing Results with DataSelf
- Verdant AI Hires Malcolm Gill as Vice-President of Sales
- California: Governor Newsom Signs Executive Order on Actions in Response to COVID-19 6.30.20
- California: Governor Newsom Signs SB 350, Giving the State Protection that PG&E will be Transformed into a Safer Utility
- Andrew Jones Auctions will hold an online-only Design for the Home and Garden Auction on July 26th
- IFYA Invites Froyo Fans to Share Their Froyo at Home Style in a New Photo Contest
- California: Governor Newsom Announces Appointments 6.30.20
- San Francisco: Mayor London Breed Announces Lease for 145 Units of Housing for Homeless and Formerly Homeless Households