CFH Group Re-Commits to Buy 50% of Boston Technologies, Expects Cooperation

On Friday, after Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates brought to the attention of our readers that the CFH Group is to acquire 50% of Boston Technologies pending due diligence, our reporters followed up with a reply from the company's CEO, George Popescu, today CFH reiterated its commitment to the deal with Kevin Millien.

According to a statement which was just released by the CFH Group, the company remains committed to acquiring 50% of Boston Technologies and expects cooperation with the Group's CEO, Christian Frahm, stating, "CFH Group confirms its purchase (pending final due diligence) of Class B stocks with voting rights in Boston Technologies Inc. and ordinary shares in BT Trading Ltd (parent company of Boston Prime Ltd) from Kevin Millien. According to all the information we have received, this represents 50% of the voting stock in both companies. However, due to the case settlement between Kevin Millien and George Popescu in Boston Technologies, we acknowledge the outcome of the case resulted in Kevin Millien’s stake only representing one share fewer, and as such does not represent a controlling stake."

The company goes on to elaborate in detail that it expects that its shareholder interests would be defended, as Mr. Frahm elaborates in the statement, "It must also be stressed that it is a fiduciary responsibility of the management team to act in the interest of all shareholders. As a major shareholder, we would therefore expect to have influence on the future direction of the company."

The statement concludes with the CFH Group's CEO who "Believes this deal creates a great opportunity for both CFH Group and Boston Technologies. We are in dialogue with the management of Boston Technologies about further ways of working together which we believe would be in the best interest of all shareholders and the company."