Knight Capital Group, which recently agreed to be bought for $1.4 billion by Getco Holding Co, has struck a deal to sell its credit-brokerage unit to Stifel Financial Corp, according to a person familiar with the matter. The terms of the deal were not known. But Stifel will be picking up investment-grade, high-yield, asset-backed and mortgage-backed debt brokers in the U.S. and Europe through the deal the source said.The deal could be announced as soon as Monday, according to the source, who spoke on the condition of anonymity because the sale has not yet been made public. The news was previously reported by Bloomberg News earlier on Sunday.Bank of America advised Knight Capital on the sale, the source said.Knight Capital failed to comment on the sale. Stifel, Getco and Bank of America could not be immediately reached for comment.
Knight Capital Group, Inc. is a United States-based company that provides financial services. Shares of KCG remained unchanged at $3.73. In the past year, the shares have traded as low as $2.24 and as high as $13.54. On average, 4221420 shares of KCG exchange hands on a given day and today's volume is recorded at 1822837.
Stifel Financial Corp. is a financial holding company. Shares of SF traded higher by 1.09% or $0.41/share to $38.04. In the past year, the shares have traded as low as $28.10 and as high as $39.81. On average, 436216 shares of SF exchange hands on a given day and today's volume is recorded at 528611.
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