N2N Connect proposes to acquire AFE Solutions
KUALA LUMPUR: N2N Connect Bhd has proposed to take over financial data and trading solutions provider AFE Solutions Ltd from Reuters International Holdings SARL and Systex Capital Group Inc for RM85.28 million.
In a filing to Bursa Malaysia, N2N Connect said this is an opportunity for it to acquire an established company in the stock market solutions sector with presence in Hong Kong, Macau and Vietnam, robust financials and positive cash flows.
“N2N Connect is also able to control the strategic direction and management of the business of AFE Solutions in terms of new products offering to a larger market segment as well as expand its geographical coverage into new markets in Asia,” it said.
The acquisition will be financed with internally generated funds and/or bank borrowings.