GFI Group Inc. (GFIG) announced that it acquired privately held Trayport Ltd. for an aggregate purchase price of GBP 84 million or approximately US$ 164 million.
GFI said it paid Trayport GBP 75 million or approximately US$ 146 million, plus an additional GBP 9 million for excess working capital, mostly in the form of surplus cash.
GFI anticipates that the transaction will be neutral to its non-GAAP 2008 earnings, which excludes amortization of intangibles and accretive thereafter.
In addition, GFI reported that it completed a private placement of US$ 60 million of 7.17% senior secured notes due in 2013. The company further disclosed that it has amended its existing revolving credit facility to increase the available borrowings under the facility to US$ 265 million from US$ 160 million.
For comments and feedback: editorial@rttnews.com