Market Overview

RCS Capital to Acquire Cetera Financial Group for $1.15B in Cash

RCS Capital (NYSE: RCAP) announced today that it has entered into an agreement to acquire Cetera Financial Group ("Cetera"), a leading independent broker-dealer headquartered in El Segundo, CA, from Lightyear Capital for $1.15 billion in cash, subject to certain customary adjustments. Following this transaction, Cetera and its subsidiaries will become part of RCAP's retail advice platform, complementing the recently announced acquisitions of Summit Brokerage Services and Investors Capital Holdings.  Valerie Brown, President and Chief Executive Officer of Cetera, and her management team, will continue to operate Cetera's respective brands as part of the RCAP family of companies.

See full press release

Posted-In: News Guidance Contracts FDA Management Global

 

Related Articles (RCAP)

Around the Web, We're Loving...

Get Benzinga's Newsletters