23-04-2025
UK's Argentex in talks with IFX payments for sale
April 23 (Reuters) - British currency risk management company Argentex (AGFX.L), opens new tab on Wednesday said it was in advanced talks with foreign exchange and payments solutions provider IFX payments about a possible offer.
Shares of Argentex were suspended from trading on Tuesday after the company said its liquidity had significantly worsened due to the sharp fall in the U.S. dollar and Sky News had reported that it was in talks about an emergency sale.
The dollar had been trading near multi-year lows versus the euro and the Swiss franc on Tuesday, while the yen hit a seven-month high as investors dumped U.S. assets, worried by trade tensions and Trump's attacks on the Fed.
On Wednesday, Argentex confirmed it had received three separate non-binding indicative proposals and that it had rejected the proposals received from Lumon Acquisitions and Terry Clune and Harry Adams.
Although discussions are at an advanced stage with IFX, Argentex said there can be no certainty that a firm offer will be made.
