Xinhua Finance to acquire risk management firm
Chinese financial information provider Xinhua Finance is looking to acquire Beijing Alpha Financial Engineering, a leading risk management systems developer in China, by acquiring all the company's shares from its two equity holders.
The deal, which is subject to approval from Chinese regulatory authorities, is estimated to be worth $2 million. Xinhua Finance will settle the deal over a three-years period in amounts dependent upon Beijing Alpha’s performance in 2005, 2006, 2007 and 2008.
Xinhua Finance said the addition of Beijing Alpha is demand-driven, will enrich its index services with risk management and performance evaluation, and is essential to meeting demand for tailor-made complex index benchmark and risk management offerings. In 2005, Beijing Alpha had revenues worth $258,836 and had registered capital of $310,000.
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