Normal Chartered signed definitive agreements to amass Zodia Custody’s regulated working entities, topic to regulatory approvals and shutting situations.
The signing advances a transaction introduced in Might, when Zodia’s shareholders accepted the financial institution’s non-binding provide.
As a part of the deal, Normal Chartered would purchase 100% of Zodia Custody UK Restricted, the guardian firm of Zodia’s regulated working entities in Singapore, Hong Kong, Australia, Luxembourg and the United Arab Emirates, the financial institution stated in a Wednesday announcement.
