UK forex broker ODL to be acquired by US peer

* Says agreed to be bought by FXCM Holdings

* Financial terms of deal not disclosed

May 5 (BestGrowthStock) – British foreign exchange broker ODL Group
Ltd said on Wednesday it agreed to be acquired by U.S. peer
FXCM Holdings LLC to expand their operations globally.

The financial details of the deal were not disclosed.

ODL, which would continue to trade under its current name
following the acquisition, said the companies will together
have total client assets of more than $800 million.

“ODL’s strong UK and European businesses will provide an
excellent complement to FXCM’s sizeable operations in both the
United States and Asia,” the company said in a statement.

The deal is still pending final due diligence review and
regulatory approval, ODL said.

ODL Group was formed in April 2003 following a management
buyout of the general insurance division of the O’Donoghue
Lindsay Group, a New Zealand-owned brokerage.
Investing Research

(Reporting by Tresa Sherin Morera in Bangalore; Editing by
Maju Samuel) (([email protected]; +44 207 542
7717; Reuters Messaging: [email protected]))

UK forex broker ODL to be acquired by US peer