Following on from our note earlier this month stating ICAP and Tullett Prebon's $1bn deal concerning the voice broking and information business of inter-dealer broker ICAP is in its final stages, yesterday ICAP said the bondholders had approved the sale. The sale will see a consortium led by US-based investment bank Goldman Sachs take over as administrators for the business.
Following on from our note earlier this month stating ICAP and Tullett Prebon's $1bn deal concerning the voice broking and information business of inter-dealer broker ICAP is in its final stages, yesterday ICAP said the bondholders had approved the sale. The agreement includes ICAP's associated technology and broking platforms, namely iSwap and Fusion, and certain joint ventures of ICAP's and its associates.