Under the terms of the acquisition, the acquirer paid final consideration of $2 for the GAC shares to complete the deal.
GAC offers securities business, including several classes of securities transactions such as equities, corporate and municipal bonds, mutual funds, insurance and options, all of which the broker dealer executes as risk-less principal and agency transactions.
Global Arena Holding chairman John Matthews said the synergies between the firm’s other operating financial subsidiaries and Global Arena Capital will enhance its overall business.
Global Arena Holding CEO Josh Winkler said, "We are thrilled that this transaction has been completed, as it will allow us to continue with our strategy of additional acquisitions which will benefit the Company and its shareholders in the near future."
