RCS Capital Strikes $1B Deal To Buy Cetera Financial

Law360, New York (January 16, 2014, 4:13 PM EST) -- RCS Capital Corp. agreed to buy Cetera Financial Group, an independent broker-dealer, for $1.15 billion from Lightyear Capital LLC, the firms said Thursday.

RCS said that the deal will help it create the second largest independent financial adviser and dealer in the U.S., with more than 8,900 representatives. The deal is also expected to add $1.3 billion to RCS' 2014 revenues, according to the financial holding company, whose stock ticker symbol is RCAP. 

"The combination of Cetera with RCAP and RCAP Holdings’ other retail broker dealers...
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