Virtu Financial $1.4 billion acquisition of KCG Holdings

20/4/2017

Public acquisition

Value:

$ 1.4 billion

Status:

Announced

Date:

20/4/2017

Overview:

Virtu Financial has acquired fellow electronic trading firm KCG Holdings in a $1.4 billion deal.
Virtu is financing the deal through a combination of debt refinancing, equity and loans.
JP Morgan Securities acted as financial adviser for Virtu and Goldman Sachs acted for KCG.
The transaction is expected to close in the third quarter of 2017.

Kurt Stumpo - Journalist

Jurisdiction:

United States

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

United States

Industry sector:

Financial services

Firms:

Cleary Gottlieb Steen & Hamilton

Party: Goldman Sachs (Financial adviser)

Lawyer: Kimberly Spoerri

Paul Weiss Rifkind Wharton & Garrison

Party: Virtu Financial (Acquirer)

Lawyers: Ellen Ching, Jeffrey Marell

Sullivan & Cromwell

Party: KCG Holdings (Target)

Lawyers: H Rodgin Cohen, Jared Fishman, John Estes, John Mead

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