Interdealer broker ICAP has completed the restructure of its strategic interests in Japan.
ICAP Totan Securities, a 60% majority owned subsidiary of ICAP, has completed the sale of its JGB business to Central Tanshi Securities, earning the firm £1m.
ICAP and its existing partner, Totan Holdings, also acquired shares from Cental Tanshi in the newly renamed Central Totan Securities.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Central Totan Securities now operates the expanded JGB business. ICAP holds a 20% interest in Central Totan Securities, while Totan and Cental Tanshi each hold 40%.
ICAP has also completed the acquisition of an increased share in Totan Capital Markets, an interest rates derivatives broker. ICAP now owns 40%, up from 28.14%.
__
NR
-
Rightmove: UK asking prices up more than usual but Budget uncertainty remainsNews The property website’s latest House Price Index shows sales are rising and buyers are benefiting from more choice – but will the Budget dent market confidence?
-
8 of the best properties for sale with striking gardensProperties with striking gardens – from a 17th-century longhouse in Carmarthen, Wales, to a 16th-century manor house in Hampshire with formal parterre gardens.
