Cryptocurrency trading exchange Huobi Global has announced it will soon be purchased by Hong Kong-based investment company About Capital Management's M&A fund.
Once the deal closes About Captial will control a majority stake in the exchange. The new owners will seek international expansion receiving an “injection of sufficient capital in margin and risk provision fund”, Huobi said in a blog post.
The acquisition will have zero effect on current trading operations as it “only involves the change of controlling shareholder and has no impact on core operation and business management teams”.
The news of the ownership transfer follows months of speculation that company founder Leon Li was looking for a buyer to purchase his 60% stake in Huobi for no less than $1bn. The exact terms of the deal have not yet been disclosed.
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