N2N Con­nect pro­poses to ac­quire AFE So­lu­tions

The Sun (Malaysia) - - SPEAK UP -

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.

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