BGC, GFI to Offload Trayport to ICE for $650 Million
The move is the latest in a strategy to unlock newly-acquired assets' value.
A move of this nature was seen as all but assured when BGC, part of Cantor Fitzgerald, finally won out in its quest to buy GFI after a yearslong courtship that ended this February.
"While in many ways we would have benefited from continuing to own Trayport, the proposed transaction is the most direct way for us to unlock value for our shareholders," Howard Lutnick, BGC Partners chairman, said in a statement. "Indeed, one of the main reasons that BGC pursued GFI was the expectation that the sale
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