LeapRate Exclusive… LeapRate has learned that the M&A discussions revolving around Alpari UK and the possibility of selling the firm intact have evaporated in the past 24 hours, with the last potential buyers deciding to walk away.
As we reported earlier in our exclusive unveiling of the Confidential Information Memorandum put out by Special Administrator KPMG, the Administrator (and the FCA) were looking for a minimum £20 million (USD $30 million) capital injection to keep Alpari UK operating under its current FCA license. No buyers emerged willing to pay anything near that, for a company which essentially wasn’t making much money even when times were good – Alpari UK lost £6.3 million in 2013, and 2014 volumes were below those from 2013. In addition, any buyer knew that many of the ‘acquired’ customers might just walk away the next day anyway.
We reported earlier that KPMG has succeeded in selling some of Alpari UK’s intellectual property assets, such as its trademarks and domain names, to Alpari Group Chairman Andrey Dashin. We also understand that KPMG plans to sell Alpari UK’s client list to the highest bidder – although any purchaser would not be acquiring the clients directly. Alpari UK clients will have the option of getting their money back, or having their account transferred to the client list acquirer.
Note that LeapRate has set up a special Alpari UK Client Petition to be provided to Special Administrator KPMG, asking for client funds to be returned as soon as possible. To add your voice to the petition click here.
We are also pleased to provide our readers with a complete copy of the original information memorandum describing Alpari UK’s operations which was used by KPMG as a marketing document. To receive a link to download the document we would require you to first subscribe to our daily Forex Industry Newsletter. (All those already subscribed still need to supply their email address). Note that you will only receive the link for download to the email address provided – please complete the box at right. After completion, an email with the link will arrive within one hour.