Icap completes Traiana deal
The broker has paid $238 million for 100% of the share capital of Traiana in cash and $9 million of Icap shares that will vest within four years. The acquisition of the company will initially be financed using a new acquisition facility on similar terms to Icap's existing £350 million ($711.8 million) facility.
The deal, first announced in October, extends Icap's pool of post-trade processing businesses (FX Week, October 15). In 2001, Icap acquired over-the-counter derivatives post-trade vendor
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