CEFC China to buy 20% stake in US brokerage Cowen for $100m

CEFC China to buy 20% stake in US brokerage Cowen for $100m

U.S. 100 dollar banknotes and Chinese 100 yuan banknotes are seen in this picture illustration in Beijing, China, January 21, 2016. REUTERS/Jason Lee

Brokerage Cowen Group Inc’s shares surged 19 percent on Wednesday after Chinese conglomerate CEFC China said it agreed to acquire a stake of about 20 percent in the U.S. company for $100 million.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter