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Seymour Pierce, the London-based stockbroker, has been acquired by Cantor Fitzgerald of the US for undisclosed terms.
Seymour Pierce is to advise ATH Resources with plans to raise £11m in a share placing, in order to fund the development of opencast coal mines.
Seymour Pierce is to withdraw from fund management with the termination of a contract between its Pavillion division and MGM Assurance.
Seymour Pierce's investment banking and broking division is to undergo a £7.3m management buy-out backed by Alchemy Partners, while the fund management division will be sold in a separate deal.
Seymour Pierce is to acquire PFM, the asset management group, for up to £13m.