It was revealed to factorscan today that Factors Chain International and International Factors Group are to merge. Details of the arrangement are yet to be announced. The two agencies which facilitate 90% of international factoring trade worldwide on behalf of their factoring clients, expect to be in a position to combine operations in the latter half of 2002 or early 2003.
According to Jeroen Kohnstamm, Secretary General of FCI, “there are a number of legal and structural issues which have yet to be resolved. There is also the question of what the new organisation will be named and where it will be based.”
There have been previous attempts to bring the two groups together in recent years but until now negotiations have broken down before an agreement could be reached.
BCR Publishing
