Deals
Trader ED&F Man Said to Explore Options for Brokerage Business
- Brokerage unit could have a new partner or owner altogether
- Commodity trader has struggled to make money in recent years
Photographer: Marlene Awaad/Bloomberg
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ED&F Man Holdings Ltd. is exploring options for its brokerage unit that could result in the commodities trader selling a stake in the business or offloading it entirely, according to people familiar with the matter.
The brokerage arm of the London-based trader is in talks with partners for a deal that could value ED&F Man Capital Markets Ltd. at more than $500 million, said the people, who asked not to be identified because the information is private. The brokerage, which is looking for a partner willing to invest in its future growth, is working with PwC on the process, one of the people said.