BGC Partners unit buys Ginga Petroleum

|About: BGC Partners, Inc. (BGCP)|By:, SA News Editor

GFI Asia Holdings, a subsidiary of BGC Partners  (BGCP +2.4%), acquires Ginga Petroleum (Singapore) Pte, a company that provides broking services for physical and derivative energy products including naphtha, liquefied petroleum gas, fuel oil, biofuels, middle distillates, petrochemicals, and gasoline.

Details of the transaction weren't disclosed.

Ginga, which has over 60 employees, is complementary to GFI's oil broking business in London, says GFI Group Deputy CEO Julian Swain.

Previously: BGC Partners -2.0% after Q4 EPS miss (Feb. 14)

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