MNC Kapital Indonesia to acquire a majority stake in Auerbach Grayson from Beltone Financial.

MNC Kapital Indonesia, a life insurance company, agreed to acquire a majority stake in Auerbach Grayson, a New York-based brokerage firm specializing in global trade execution and exclusive in-depth research for US institutional investors, from Beltone Financial, an Egypt-based investment bank. The acquisition will be in partnership with David Grayson, AGCO Co-Founder, with MNC holding a majority stake and Mr Grayson owning the rest of the company. Financial terms were not disclosed. “By acquiring a stake of AGCO, BCAP will benefit from the strong international network of AGCO and access to its 126 local partners around the world,” Hary Tanoesoedibjo, MNC Group Executive Chairman.