Before its purchase of Refco assets had even been fully
finalised, Man Group last week brokered a management buyout of
Refco's London businesses to be backed by New York-based asset
management firm Marathon and headed up by former Refco Europe
MD Mark Slade.
According to a statement released by Marathon, the Refco
assets to be purchased comprised its London futures, FX and
financial brokerage operations including sales, trading,
administrative, IT and exchange clearing businesses. Also
included was Refco's large share of repo business cleared on
It remained unclear at press time whether or not the deal
was to include subsidiaries, Refco Trading Services (Refco TS)
or EasyScreen, acquired by the firm in March 2003 and March
2005 respectively (see FO Week Vol 8 No 10 and and Vol
10 No 11).
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