Aurum Holdings chief executive Brian Duffy has denied that the business is for sale.
A story by Sky News city editor Mark Kleinman on November 3 suggested Apollo Global Management, the US-based investment company that owns Aurum Holdings, was considering a sale.
But Mr Duffy told WatchPro this morning that the story had misrepresented conversations between Apollo and other city executives.
“I was in the room during those conversations,” Mr Duffy said. “All that happened was that Apollo took advice on the state of the market, and what would be the market’s view of the business we have created here.”
“The way it was reported was that a sale was imminent, which was a distortion of the situation. All that has happened was that they asked for that advice,” he added.
Apollo Group Management is a company that buys and sells companies, and Mr Duffy is realistic that at some point they would look to sell.
“But there is a process if they want to sell, and that process has not started here,” Mr Duffy clarified. “We keep all stakeholders informed at all times,” he concluded.
The full interview with Aurum Group CEO Brian Duffy will appear in the January edition of WatchPro magazine.