Exco Headed For Management Buyout? But Price Cut Likely: No 230 Million Pounds Sterling
BROKERS
Exco International PLC, which is involved in foreign exchange and other interdealer broking activities, appears to be headed for a management buyout, following the appointment of an administrator for its parent company, British & Commonwealth Holdings PLC.
While Exco executives have expressed a preference for a management buyout, the new legal arrangements that provide B&C with temporary protection from its creditors make this outcome a lot more certain, bankers say. Now that B&C has legal
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