KPMG opens Alpari to takeover bids

Alpari

More than 50 companies have shown interest in acquiring all or parts of failed forex and spread betting operator Alpari UK. London business news sources report that Alpari’s Japanese and Russian trading arms are of particular interest to potential buyers of the company.

Alpari who entered administration under auditor KPMG on 20 January, hope that the takeover interest from buying parties will be able to save its 170 staff members from redundancy.

The spread betting operator closed its operations last week, after it was severely hit by the Swiss Central Bank scrapping its franc’s peg to the euro currency. The decision by the Swiss Central Bank created volatile trading conditions, which left Alpari exposed to huge trading loses, forcing management to enter administration.

Business news source CITY AM reports that forex trading operators Iron FX, SpreadCo and ETX Capital have all shown interest in acquiring the operator and its assets.

KPMG the auditors appointed for the administration of Alpari UK, will begin to narrow the field of interested suitors. KPMG will open deal negotiations for the spread betting/forex firm as it asses the best value deal for Alpari creditors.

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