The sale of Fortis’ Dutch subsidiary, GWK Bank (GWK), to Travelex has taken a step closer to completion after the two companies reached an agreement over the purchase price. The price has been determined at EUR 17,490,000 subject to a post closing net asset adjustment. Completion of the transaction will be subject to the approval of the regulatory authorities and other customary approvals. The sale follows Travelex’s acquisition of Belgium-based FX firm, Camrail, last year and will strengthen its existing Dutch operations, said Travelex.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.