BGC Partners To Acquire Assets Of HEAT Energy Group - Quick Facts

(RTTNews) - BGC Partners, Inc. (BGCP) announced it has entered into an agreement to acquire the assets of HEAT Energy Group or HEAT, an independent over-the-counter energy brokerage company focused on the regional term power markets and natural gas swaps.

The company said this transaction complements BGC's growing energy practice in North America. HEAT specializes in electricity and power broking in the PJM Interconnection and the Mid-Continent Area Power Pool regions and has offices in New York, New Jersey and Florida. The acquisition is expected to close later this quarter and is subject to various closing conditions.