Invast Financial Services Pty Ltd cancelled the acquisition of GMO-Z.com Trade UK Limited from GMO Financial Holdings, Inc..
March 22, 2023
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Invast Financial Services Pty Ltd agreed to acquire GMO-Z.com Trade UK Limited from GMO Financial Holdings, Inc. (TSE:7177) on October 25, 2022. GMO-Z.com Trade had net asset of ¥168 million, total assets of ¥564 million, revenue of ¥62 million, operating loss of ¥164 million and net loss of ¥172 million, for fiscal year ended December 2021. The transaction is subject to approval from the UK Financial Conduct Authority (FCA). The transaction is planned to be completed in late April 2023. The impact of this transaction on consolidated business performance of GMO Financial will be minor. As of March 22, 2023, it was difficult to obtain Financial Conduct Authority (FCA) approval, the board of directors agreed to cancel the Share Transfer Agreement.
Invast Financial Services Pty Ltd cancelled the acquisition of GMO-Z.com Trade UK Limited from GMO Financial Holdings, Inc. (TSE:7177) on March 22, 2023.
GMO Financial Holdings Inc is a Japan-based company mainly engaged in the securities and foreign exchange margin trading (FX) and cryptocurrency businesses. The Company operates through two business segments. The securities and FX segment is engaged in the provision of financial product trading services such as Internet securities trading and FX trading. The Virtual Currency segment is engaged in the provision of virtual currency related transaction services such as buying and selling of virtual currency and margin trading. The Company is also engaged in the system related business.