FW advises GFI on the acquisition of The Kyte Group Limited and Kyte Capital Management Limited.
July 22, 2010
Fox Williams LLP acted for GFI Group Inc. ("GFI"), a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets, on its acquisition of The Kyte Group Limited and Kyte Capital Management (together "Kyte") for a purchase price of up to £80M. Kyte is a member of leading exchanges including NYSE Euronext, NYSE LIFFE and Eurex, and provides clearing, broking, settlement and back-office services to proprietary traders, brokers, market makers and hedge funds.
Michael Gooch, Chairman and Chief Executive Officer of GFI, commented: "We believe the acquisition of Kyte and, in particular, its expertise in the listed derivatives markets and its proven risk management and clearing platforms, will position GFI well in an environment favouring standardised, exchange traded products. David Kyte is a highly respected entrepreneur in the London trading community and we are delighted to be bringing his innovative business into the GFI group of companies".
Fox Williams Corporate Partner, Nick Sayers, commented: "We were delighted to work with GFI on this transaction which strengthens GFI's position within the UK financial services sector".
Nick Sayers (Partner) led the transaction and was assisted by Steve Barnett (Partner) and corporate associates Eniga de Montfort and James Daughtrey, partner Emma Bailey and associate Deepash Patel on tax, partner Kolvin Stone and associate Clare Atkinson on IP and IT, partner Mark Watson and associate Romella Manning-Brown on employment and senior associate Rebecca Watkins on property. SJ Berwin advised the vendors.
