Benzinga | Dec 3, 2021 10:03AM EST

Freedom Holdings Agrees To Acquire MKM Partners; Terms Not Disclosed

Freedom Holding Corp. (NASDAQ:FRHC) ("Freedom") has entered an agreement to acquire MKM Partners, LLC ("MKM Partners"), it was announced today by Timur Turlov, Freedom CEO and Steven L. Messina, MKM Partners Co-CEO. Under the terms of the agreement, Freedom will acquire all the member interest of MKM Partners for cash and Freedom common stock. Completion of the transaction is subject to certain conditions, including approval of FINRA.

"MKM Partners is a well-respected institutional equity trading, sales, and research firm," said Turlov. "With one of the largest distribution forces in the U.S. and a team of distinguished strategists and research analysts, MKM will further enhance Freedom's international team and extend our activities focused on U.S. growth."

Upon closing, MKM will be led by Robert Wotczak, as CEO, and Sagar Sheth, current president of MKM Partners. "We see exciting symmetry between MKM Partners business lines and Freedom that will enable new opportunities for growth. We expect integration of the companies to be accomplished smoothly given the continuity of management and personnel at MKM Partners," said Steven Messina. "Freedom is a dynamic success story and will bring exciting opportunities for expansion to the MKM Partners team."