Knight Capital Group Completes Acquisition of Libertas Holdings, LLC
11 Julio 2008 - 8:15AM
PR Newswire (US)
Institutional fixed income broker-dealer renamed Knight Libertas
JERSEY CITY, N.J., July 11 /PRNewswire-FirstCall/ -- Knight Capital
Group, Inc. (NASDAQ:NITE) today announced the completion of the
acquisition of Libertas Holdings, LLC, for $50 million in cash and
$25 million of unregistered Knight stock, effective as of the
opening of business today. The agreement also includes a potential
earn-out of up to $75 million of unregistered Knight stock based on
future performance of Libertas in the three-year period following
the close. The institutional fixed income broker-dealer was renamed
Knight Libertas LLC. Founder Gary Katcher was appointed Senior
Managing Director and Head of Global Institutional Fixed Income. He
will report to Mr. Joyce and has joined Knight's executive
committee. "With the acquisition of Libertas, Knight now has
top-flight institutional fixed income capabilities to offer our
clients," said Thomas M. Joyce, Chairman and Chief Executive
Officer, Knight Capital Group. "Gary has assembled an impressive
team and under his continued direction we look forward to building
on the client, volume and revenue growth." Knight Libertas provides
trade execution services and investment research across a broad
range of fixed income securities, including high yield and high
grade corporate bonds, distressed debt, asset-backed and
mortgage-backed securities, convertible bonds and syndicated loans.
Knight Libertas also provides capital markets services to growing
companies in need of financing to support expansion. Biography Gary
Katcher Senior Managing Director, Head of Global Institutional
Fixed Income Gary Katcher, 51, heads Knight's institutional fixed
income sales and trading. He is the former Chief Executive Office
of Libertas Partners LLC, a firm he founded in 2002. Mr. Katcher
spent more than a decade at Merrill Lynch where he headed high
yield trading. While running the Merrill Lynch desk, the high yield
group rose to one of the top on Wall Street in new issue and
secondary trading. His career also includes roles at Royal Bank of
Canada, Bear Stearns and E.F. Hutton where he started in 1982 and
was eventually promoted to head the high yield desk. Mr. Katcher
holds an MBA in Finance from New York University and a BA from
Oneonta State. About Knight Knight Capital Group, Inc.
(NASDAQ:NITE) is a leading financial services firm that provides
electronic and voice access to the capital markets across multiple
asset classes for buy-side, sell-side and corporate clients. In
Global Markets, we provide market access and trade execution
services in nearly every U.S. equity security and a large number of
international securities, futures, options, foreign exchange and
fixed income. In Asset Management, Knight owns a 51 percent stake
in Deephaven Holdings with Deephaven Partners controlling the
remaining 49 percent as of February 1, 2008. Deephaven
(http://www.deephavenfunds.com/) is a global, multi-strategy
alternative investment manager serving institutions and private
clients. More information about Knight can be found at
http://www.knight.com/. Certain statements contained herein may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are not historical facts and are based
on current expectations, estimates and projections about the
Company's industry, management's beliefs and certain assumptions
made by management, many of which, by their nature, are inherently
uncertain and beyond our control. Accordingly, readers are
cautioned that any such forward-looking statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and assumptions that are difficult to predict
including, without limitation, risks associated with the costs,
integration, performance and operation of businesses recently
acquired, or that may be acquired in the future, by the Company.
Since such statements involve risks and uncertainties, the actual
results and performance of the Company may turn out to be
materially different from the results expressed or implied by such
forward- looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made herein. Readers should
carefully review the risks and uncertainties disclosed in the
Company's reports with the U.S. Securities and Exchange Commission
(SEC), including, without limitation, those detailed under the
headings "Certain Factors Affecting Results of Operations" and
"Risk Factors" in the Company's Annual Report on Form 10-K for the
year-ended December 31, 2007, and in other reports or documents the
Company files with, or furnishes to, the SEC from time to time.
This information should also be read in conjunction with the
Company's Consolidated Financial Statements and the Notes thereto
contained in the Company's Annual Report on Form 10-K for the
year-ended December 31, 2007, and in other reports or documents the
Company files with, or furnishes to, the SEC from time to time.
DATASOURCE: Knight Capital Group, Inc. CONTACT: Margaret Wyrwas,
Senior Managing Director, Communications, Marketing & Investor
Relations, +1-201-557-6954, , or Kara Fitzsimmons, Director, Media
Relations, +1-201-356-1523, , or Jonathan Mairs, Vice President,
Corporate Communications, +1-201-356-1529, , all of Knight Capital
Group, Inc. Web site: http://www.knight.com/
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