13 July 1998
ED&F Man buys First Options investor services

P>ED&F Man has agreed to buy the brokerage accounts of First Options investor services division for an expected $11.6m (£7m).

The financial services and agricultural products group is expected to make the payments mostly in profit-related amounts from completion to December 31 2003.

The purchase of the Chicago options trader fits in with ED&F Mans strategy of making small, bolt-on acquisitions to bolster its position in wholesale financial services.

  • Financial Times 13/07/98 page 22