M and A
ETF Securities Strikes Gold

Gold Bullion Holdings has agreed to sell management and control of its Gold Bullion Securities products to ETF Securities. These are the Lyxor product, which is listed on the London Stock Exchange, Euronext Paris, Borsa Italiana and the Deutsche Boerse; and the Australian-listed GBS product.
Under the agreement, the two products will be marketed with the ETFS suite of exchange traded commodities. Although the name will change to ETFS Gold Bullion Securities the exchange codes will remain the same.
The sale and purchase is subject to certain regulatory consents, but will involve no changes to any of the operations and will not impact investors in the securities in any way.
Graham Tuckwell, chairman of ETF Securities, said: “The acquisition of these two gold ETCs demonstrates our commitment to be the leading provider of exchange traded commodities. These products will fit well within our commodities platform and will be part of an expanded marketing effort for gold products in particular.”
The parties have commenced discussions with Lyxor on the most suitable arrangements for the marketing and branding to be changed over to ETF Securities.