ICAP expands European energy division, buys biofuels broker

The energy arm of interdealer broker ICAP has agreed to buy Sun Commodities, a leading broker of European biodiesel and alternative fuels, for an undisclosed sum.

The energy arm of interdealer broker ICAP has agreed to buy Sun Commodities, a leading broker of European biodiesel and alternative fuels, for an undisclosed sum.

The acquisition, which ICAP says is subject to certain conditions being fulfilled, "marks an expansion for ICAP Energy into European alternative fuels, while also signalling a further step in the broking of physical commodities."

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