BGC Partners to Acquire the U.S. Business of Newmark Knight Frank (BGCP)
BGC Partners, Inc. (NASDAQ: BGCP), one of the world's leading voice and electronic brokers serving the global wholesale financial markets, today announced that it has entered into an agreement to acquire Newmark, the real estate advisory firm which operates as Newmark Knight Frank in the U.S. and which is associated with London-based Knight Frank, which has extensive offices throughout the rest of the world. The transaction, which encompasses approximately 425 Newmark brokers and includes Newmark's New York business as well as a majority interest in over 25 other domestic offices and certain of its affiliates, will be immediately accretive to BGC.
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