NEW YORK -- Fimat, the futures arm of France's fifthlargest bank, Societe Generale, has begun discussions to acquire Brody White here.

Brody White is one of the largest independent commodities dealers in the U.S. and has offices in London. Fimat would acquire both the U.S. and U.K. operations.

Fimat said if the deal is approved by all the relevant regulatory agencies, no change in staff or senior management is planned.

The acquisition would give Fimat a presence in New York.

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