SEGB PR:
Tuesday , April 20, 2004 13:04 ET
Apr 20, 2004 (PRIMEZONE via COMTEX) --
HIGHLIGHTS:
* SEG Signs Letter of Intent to Acquire CPY
* Acquisition of a Company with Multi-Million Dollar Assets Under
Management
* To Create Presence for SEG in San Francisco Bay Area
* SEG and CPY to Form New Subsidiary at Completion of Acquisition
DIAMOND BAR, Calif., April 20, 2004 (PRIMEZONE) -- SE Global Equities Corp. (OTCBB:SEGB) ("SE Global"), a provider of technology and financial resources for international investors, announced it has signed a letter of intent to acquire the business of CPY California LP ("CPY"), a company with multi-million dollar assets under management based in Fremont, CA. The acquisition is expected to be finalized in approximately 30 days and will be structured as a new entity that will be a subsidiary of SE Global.
This marks another step for SE Global as it continues its expansion and strengthens its leadership in the U.S. through an aggressive mergers and acquisition (M&A) program. The newly formed entity will provide SE Global with a significant presence in the San Francisco Bay area, a key U.S. financial center. SE Global expects the acquisition of CPY to show a profitable net contribution.
"Since late 2002, CPY has retained new management and demonstrated steady growth and profitability in a challenging market during 2003," stated Toby Chu, SE Global Chairman and CEO. "CPY's focus on high net-worth international accounts and its presence in a key financial market make this an attractive business opportunity that should have a positive impact on SE Global."
Successful completion of the acquisition will strengthen SE Global's market position and provide better leverage for the company as it continues to seek out similar expansion opportunities. Focusing on emerging companies with special market niches, both in the United States and abroad, SE Global expects to continue to seek opportunities that will have a positive contribution to both combined management experience and the company's net worth.
SE Global's expects to retain all of CPY's employees that include full commission brokers, and both administrative and operational employees. The management structure of the newly formed entity will be disclosed with further details of the transaction at completion of the acquisition.
About SE Global Equities Corp
SE Global Equities Corp. offers a software platform that provides electronic low cost order routing of US securities through a licensed US securities broker-dealer to investors throughout most of the world.
SE Global is not a securities dealer in its own right and has not sought such registration. All order routing and support services are provided by the individual alliance broker in compliance with local regulatory requirements. Global-American Investments, Inc., a subsidiary of SE Global Equities Corp., is a U.S. licensed securities broker-dealer. Not all securities, products or services described are available in all countries, and nothing herein is an offer or solicitation of securities products and services in any jurisdiction where their offer or sale is not qualified or exempt from registration.
For more information visit the company's website www.SEGlobal.com
On Behalf of the Board of Directors of SE Global Equities Corp.
"Toby Chu"
Toby Chu
President & C.E.O. |
