NEW YORK, June 15, 2015 /PRNewswire/ -- MFC Industrial Ltd. (NYSE: MIL) announces it has entered into an agreement to acquire a licenced bank in Western Europe. The purchase price under the transaction is subject to finalization on completion and will be based on, among other things, the net realizable capital at such time. The transaction is subject to customary conditions, including, among others, the receipt of requisite national and European Central Bank regulatory approvals. The Company currently expects such regulatory approval process to take several months.
About MFC Industrial Ltd.
MFC is a global supply chain company and is active in a broad spectrum of activities including: sourcing a wide range of products, trade finance and logistics and risk management services for producers and consumers around the world. To obtain further information on the Company, please visit our website at: http://www.mfcindustrial.com.
SOURCE MFC Industrial Ltd.