INTL FCStone closes Ambrian buy

Commodities advisory INTL FCStone yesterday announced the completion of negotiations to acquire Ambrian Commodities (ACL), the wholly owned broker-dealer subsidiary of Ambrian Capital. Subject to approval from the FSA, the purchase consideration will be equal to the net asset value of ACL at 31 March, estimated at £10.3m including £4.3m of the £6m debt owed by Ambrian Capital to ACL.