Business
Freedom Holding and MKM Holdings Announce Mutual Termination of Acquisition
ALMATY, KAZAKHSTAN and STAMFORD CT / ACCESSWIRE / April 1, 2022 / Freedom Holding Corp. (NASDAQ:FRHC) ("Freedom Holding") and MKM Holdings LLC ("MKM
About this update from Freedom Holding Corp.
[{"type":"text","content":"ALMATY, KAZAKHSTAN and STAMFORD CT / ACCESSWIRE / April 1, 2022 / Freedom Holding Corp. (NASDAQ:FRHC) (\"Freedom Holding\") and MKM Holdings LLC (\"MKM Holdings\") today announced that they have mutually agreed to terminate the previously announced acquisition of MKM Partners LLC (\"MKM Partners\") by Freedom Holding from MKM Holdings due to business and market conditions arising from international geopolitical conditions.\"We were excited about the synergies that would have benefitted our clients and employees through the acquisition of MKM Partners by Freedom Holding, a vibrant and growing financial services firm with offices throughout Europe and Asia. The current global turmoil and the strong international reaction to the conflicts have caused many companies to reevaluate their expansion plans and pending deals.\" stated a Member of the MKM Management Committee.Timur Turlov, CEO of Freedom Holding stated, \"Although we have had funding in place and been working to complete regulatory approvals, we have agreed to terminate the purchase of MKM Partners, LLC, to allow it to remain an independent firm in the current geopolitical environment. Nevertheless, we remain committed to exploring other opportunities in the U.S. market in pursuit of our corporate goal of becoming a premiere international financial services firm.\"About MKM Holdings and MKM Partners MKM Holdings LLC is the sole owner of MKM Partners LLC, an institutional equity research, sales and trading firm headquartered in Stamford, Connecticut with additional offices in Boston, Chicago, New York City, San Francisco, Los Angeles, Dallas, Austin, and Houston. MKM Partners combines high-impact fundamental analysis with macroeconomics, technical insights, derivatives strategies, event-driven commentary, alternative research, and first-rate execution. With over 1,000 institutional clients and one of the largest trading floors in the U.S., the firm has trade execution abilities in both global equity markets and in U.S. options markets.About Freedom Holding Corp.Freedom Holding Corp., a Nevada corporation, is a financial services holding company conducting retail financial securities brokerage, investment research, investment counseling, securities trading, investment banking and underwriting services and consumer banking through its subsidiaries under the name of Freedom Fi...