LONDON -- Republic National Bank of New York said it will acquire Mase Westpac Ltd., a gold bullion specialty company based in London.
The terms were not disclosed. Mase Westpac, a unit of Westpac Banking Corp. of Australia, is one of the five companies that participate in the daily London gold fixings.
Mase Westpac also is a member of the London platinum and palladium fixings and one of 13 market-making members of the London Bullion Market Association. It is an associate broker clearing member of the London Metal Exchange and a member of the New York and Tokyo Commodity Exchanges.
Republic National Bank, the subsidiary of Republic New York Corp. and a leading gold and silver bullion dealer, said it would expand and enhance Mase Westpac's business lines. In one example, it would add 24-hour platinum and palladium trading.