This Slide: #31 of 100 |
Slide #31. BGC Partners — Assets Of HEAT Energy Group
Acquirer:
BGC Partners (BGCP)
Acquiree:
Assets Of HEAT Energy Group
Details:
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 financial brokerage and technology company. Through brands including BGC®, GFI®, Sunrise Brokers, Poten & Partners®, RP Martin and Fenics® 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. provides broker products across foreign exchange, equity derivatives and cash equities, energy and commodities, shipping and futures and options. Co. also provides other services, including trade execution, connectivity solutions, and brokerage services
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Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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