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StoneX to acquire French grain broker Plantureux
STONEX GROUP INC SNEX | 84.91 84.91 | -0.75% 0.00% Post |
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PARIS, May 12 (Reuters) - U.S.-based StoneX Group SNEX.O said on Monday it has agreed to acquire French grain brokerage Plantureux et Associes as it seeks to expand in agricultural commodity markets in Europe.
The agreement also marks a further consolidation step for financial services firm StoneX after its $900 million deal last month to acquire futures brokerage R.J. O'Brien.
Plantureux is a leading futures and physical broker in France, the European Union's largest grain-producing country and home to Euronext's wheat futures market, an international price benchmark. GRA/EU
Financial terms of the deal, which is subject to regulatory approval, were not disclosed.
StoneX and Plantureux formed a partnership last December covering clearing of derivatives.
(Reporting by Gus Trompiz; Editing by Susan Fenton)
((gus.trompiz@thomsonreuters.com;))