Hong Kong’s Sun Hung Kai Financial (SHKF) has closed the acquisition of 100% of North Square Blue Oak (NSBO), a UK-based specialist brokerage and research firm, for an undisclosed amount.
The move comes after the deal secured the go-ahead from UK regulators.
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NSBO will now operate under the name SHKF (UK) and will be able to have institutional brokerage, specialist research and corporate finance operations in the UK.
SHKF said that the deal will develop the international sales and transaction networks and global client base of Everbright Securities Company that owns its majority stake.
For clients of SHKF (UK), the deal will support improved China research and execution capabilities and better proximity to the global macroeconomic themes, SHKF said.
“With the transaction completed, SHKF and SHKF (UK) are set to have the depth and breadth of their business cooperation enhanced further, by which they can join forces to provide their domestic and foreign customers with trading services of financial products, and corporate finance, asset management and other integrated financial services,” SHKF added.
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