First Finance International Bank Inc., (“FFIBI”) announced today the agreement to purchase 100% of the shares of CSI Group Limited (“CSI”).
After much consideration and negotiation, the board of directors and shareholders of both companies have reached agreement on the purchase price being not less than 10 times the audited Earnings before interest and Tax (EBIT)
The agreed EBIT will be the average over the last 12 months and will be subject to complete acceptable due diligence.
The purchase will include the main business operations and the intelligent trading strategy software system of CSI.
After the completion of the acquisition, FFIBI will take control of the operations of the company and FFIBI has agreed to invest additional funds to enhance the intelligent trading strategy business.
First Finance International Bank Inc.