×

INTL FCStone Advises on Sale of Korean Electronic Locks Business

NEW YORK, July 28, 2015 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (NASDAQ:INTL) announced today that the broker dealer division of its subsidiary, INTL FCStone Financial Inc. acted as the exclusive financial adviser to the shareholders of Milre Systek Co., Ltd. ("Milre"), a leading security solutions manufacturer in South Korea focused on producing high-quality and innovative electronic door locks, in the sale of Milre to Allegion, plc (NYSE:ALLE). Allegion is a leading global security products and solutions provider. The transaction is expected to close in the third quarter of this year.

Following the close of the transaction, Milre is expected to operate within Allegion's Asia Pacific region. William Yu, Allegion's Senior Vice President and President of Asia Pacific, said that Milre has a strong, positive reputation that will contribute to the company's success, supporting Allegion's growth in the region.

Milre CEO and majority shareholder Sang Ok Lee stated, "Joining Allegion gives Milre access to additional sales networks that can foster new growth opportunities for our business throughout Asia and around the world." Lee added, "INTL FCStone Financial provided crucial guidance and timely advice in managing the transaction process from start to finish, including navigating complex structural, tax and cross-cultural considerations and, ultimately, introducing a buyer that represents the best strategic fit to guide Milre into the future."

Daniel Braz, Managing Director Investment Banking, who covers the industrials sector's investment banking activities for INTL FCStone Financial's Broker Dealer Division said, "This transaction represents an outstanding outcome for Milre's shareholders, employees and other stakeholders while simultaneously providing a solid platform for growth for Allegion in East Asia."

Matthew Yoon, Managing Director Investment Banking, who leads INTL FCStone Financial Inc.'s investment banking activities in East Asia further comments "the Milre transaction illustrates how a Korean entrepreneurial business can reach its potential both inside and outside of the Korean market by becoming part of a leading global enterprise in the segment."

About INTL FCStone Inc.

INTL FCStone Inc., including its subsidiaries, is a leader in the development of specialized financial services in commodities, securities, global payments, foreign exchange and other markets. Its revenues are derived primarily from financial products and advisory services that fulfill clients' needs and provide bottom-line benefits to their businesses. INTL creates added value for clients by providing access to global financial markets using industry and financial expertise, deep partner and network relationships, insight and guidance, and integrity and transparency. INTL's client-first approach engenders trust,  and has enabled INTL to establish leadership positions in a number of complex fields in financial markets around the world. INTL FCStone Financial Inc. is a member of FINRA, SIPC and registered with the MSRB. It is also a wholly owned subsidiary of INTL FCStone Inc.

Further information on INTL FCStone is available at www.intlfcstone.com.

CONTACT: INTL FCStone Inc. Kent Coughlin Director of Public Relations +615-234-2756 kent.coughlin@intlfcstone.com

Source:INTL FCStone Inc.