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Chi-X Global Holdings LLC today announced that J.C. Flowers & Co. LLC has entered into an agreement to acquire Chi-X Australia, Chi-X Japan and Chi-Tech Hong Kong.
Financial terms of the transaction were not disclosed. The acquisition is expected to close in Q1 2016, pending regulatory clearances.
Tal Cohen, CEO of Chi-X Global, said: “We are pleased to announce that J.C. Flowers & Co. has agreed to acquire Chi-X Australia, Chi-X Japan and Chi-Tech. Over the past five years, Chi-X has established itself as an integral part of the financial markets in Asia Pacific through our commitment to competition and innovation.”
“J.C. Flowers & Co. has a deep appreciation for these markets and shares our vision of leveraging technology to develop innovative market-level solutions that enhance investor performance,” said Mr. Cohen. “We believe that Chi-X will continue to deliver greater choice and cost-effective solutions to investors and issuers as J.C. Flowers & Co. builds on the Chi-X brand.”
“The Chi-X businesses have established themselves as successful and innovative alternatives to primary exchanges,” said Thierry Porte, Managing Director, J.C. Flowers & Co. “Their superior technology, service and trade execution performance will continue to drive positive change and improve markets where they operate. We hope to accelerate this growth through continued enhancements to the platform, including new investment products and markets, and by leveraging our strong relationships throughout the Asia Pacific region.”
J.C. Flowers & Co. is exclusively focused on investments in the global financial services sector and has been an active investor in the Asia Pacific region for nearly two decades. The Firm’s current investments include Shinsei Bank of Japan; KT Capital Corporation, a Korean non-bank finance company; and SICOM Ltd., a provider of financial solutions and advisory services in India.
