RCS Capital to acquire Cetera Financial for $1.5B, stock halted


RCS Capital (RCAP) agrees to acquire broker-dealer Cetera Financial Group from Lightyear Capital for $1.15B in cash; shares are halted.

Following the transaction, Cetera will become part of RCAP's retail advice platform, complementing the recent acquisitions of Summit Brokerage Services and Investors Capital Holdings.

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