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INTL FCStone unit closes acquisition of ICAP oils voice brokerage biz

INTL FCStone Inc. unit INTL FCStone Ltd. completed its acquisition of ICAP Plc's oils voice brokerage business, which covers Europe, the Middle East and Africa.

The acquisition is effective Oct. 1. The agreement's terms include a purchase price of $6.0 million and amounts payable to employees acquired based on their continued employment.

INTL FCStone Ltd. received approval from the U.K. Competition and Markets Authority.

The London-based business includes more than 30 front-office employees across the fuel, crude, middle distillates, futures and options desks.