Tullett Prebon acquires Primex
Interdealer broker Tullett Prebon is to acquire petroleum products broker Primex.
Primex, formerly known as Amerex Europe, brokers OTC transactions for financial institutions and energy companies in crude oil, middle distillates (gas oil, gas oil cracks and jet fuel) and fuel oil markets.
The acquisition is expected to complement Tullett Prebon’s current activities, which are focused primarily on power and gas products.
Total consideration for the acquisition is up to $40milllion, of which $3.7mn in cash and $22.3m in Tullett Prebon equity is payable on completion, with a
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