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FXCM closes on sale of DailyFX to IG, almost half of its debt to Leucadia repaid
Leading global brokerage FXCM (NASDAQ:FXCM) announced on Monday it has finalized the sale of news and research portal DailyFX to IG Group (LON:IGG) for $40 million. On closing, FXCM received $36 million in cash and will get additional $4 million on completion of certain migration requirements. After the additional $4 million is received, FXCM will have repaid more than half the debt to Leucadia National Corp. The sale of DailyFX was announced in September and came as a surprise to the industry, as FXCM had not included the news and research portal on its list of assets for sale after the Leucadia bailout. The ... (full story)