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Freedom Holding Agrees to Buy Maxim Group for $400 Million

Timur Turlov. Freedom Finance
Timur Turlov. Freedom FinanceFreedom Finance
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Freedom Holding Corp., a Kazakhstan-based brokerage run by billionaire Timur Turlov, has agreed to buy US financial services firm Maxim Group.

The cash-and-stock deal is worth about $400 million, including deferred payments and retention bonuses, according to a statement Thursday, confirming a Bloomberg News report.