The London-based ACL, currently a non-clearing LME member, specializes in the development and execution of risk-management programs designed to hedge price fluctuations in base metals for a wide variety of producers, manufacturers and fabricators.
The purchase consideration will be equal to net asset value.
The acquisition is conditional upon the approval by the UK Financial Services Authority of the proposed change of control of ACL, following which the company will be renamed INTL FCStone (Europe).
INTL FCStone CEO Sean O’Connor said this acquisition allows them to fill the last remaining gap in their portfolio of physical commodity risk-management advisory and execution services, and in particular will allow them to offer their customers a full range of hedging alternatives through the London Metals Exchange.