Hudson, New York Apr 11, 2021 (Issuewire.com) - Merran Investimentos formally announced in New York that it would acquire all the financial businesses of CAM in Indonesia for $2 billion, including the famous wealth management application, Fortune Citadel.
"The acquisition of both parties is a win-win strategic adjustment at the business level, and will not have any impact on the actual business of CAM in the Indonesian market," Bryan Mason said, Director, CAM Investment Fund. "Although it is a pity to give up Fortune Citadel's right to operate in Indonesia this will better optimize CAM's global business structure and consolidate the company's global business growth capabilities."
As know that, since the launch of Fortune Castle, the number of active users in the world has exceeded hundreds of thousands, and it is currently one of the largest popular money-making and wealth management applications. After the completion of the acquisition, Fortune Citadel will be renamed and operated by the Merran management team.
Lucas Tavares, Global Investment Director of Merran, said that as early as when CAM expanded the Asian market, it had attracted their attention, "This is a company with a long history and strong business innovation and growth capabilities. New management After the team enters, it will ensure the continuation of the team culture and business of CAM."
This business acquisition is Merran Investimentos' first market action in 2021, and it was completed under the witness of Jakarta's financial management departments and multi-party investment institutions. Merran Investimentos is a well-known financial start-up in Brazil in recent years. It was co-founded by a number of financial groups. It once entered the public eye due to R&M mergers and acquisitions and attracted great attention from international capital.
Source :Lucky Pocket
This article was originally published by IssueWire. Read the original article here.