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Slide #31. BGC Partners — Assets Of HEAT Energy Group
BGC Partners (NASDAQ:BGCP)
Assets Of HEAT Energy Group
BGC Partners, Inc. (NASDAQ: BGCP) ("the Company" or "BGC"), a leading global brokerage company servicing the wholesale financial and real estate markets, today announced it has entered into an agreement to acquire the assets of HEAT Energy Group ("HEAT"), an independent over-the-counter energy brokerage company focused on the regional term power markets and natural gas swaps. This transaction complements BGC's growing energy practice in North America. HEAT specializes in electricity and power broking in the PJM Interconnection and the Mid-Continent Area Power Pool regions and has offices in New York, New Jersey and Florida. The acquisition is expected to close later this quarter and is subject to various closing conditions.
BGC Partners is a holding company. Through its subsidiaries, Co. is a brokerage and financial technology company. Through brands including BGC®, GFI®, Sunrise, Besso, Ed Broking®, Poten & Partners and RP Martin, among others, Co. engages in the brokerage of a range of products, including fixed income such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives. Co. also provides broker products across foreign exchange, equities, energy and commodities, insurance, and futures. Co. also provides a variety of services, including trade execution, clearing, post-trade, information, and other back-office services.
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Buy (3.00 out of 4)