August 5 (SeeNews) - London-headquartered financial services firm Global Kapital Group (GKG) said it has acquired Turkish brokerage services provider Isik Menkul Degerler AS.
Isık Menkul increases the Group’s global presence by adding the MENA region after Europe, Australia, Asia and the US, GKG said in a statement on Wednesday.
You can subscribe to our M&A newsletter here
The price tag of the deal, which was carried out through GKG’s unit Kapital Investment Group BV (KIG BV), was not disclosed.
Istanbul-based Isik Menkul is a multi-asset broker active in trading in stocks, futures, FX, commodities as well as CFD products. The company set up in 1986, currently serves more than 26,000 clients in Turkey.
“Turkey is one of the most important markets in the MENA region, as it is highly developed and very competitive,” KIG BV’s board chairman Engin Cubukcu said in the statement, adding that the acquisition of Isik Menkul Degerler gives the group a significant advantage over its competitors.