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Goldman Bought Knight Positions in Late Wednesday Block Sale, Charged $440 Million -CNBC

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08/03/2012 | 08:51pm CEST

Goldman Sachs Group Inc. (>> Goldman Sachs Group, Inc.) helped Knight Capital Group Inc. (>> Knight Capital Group Inc.) unwind its unintended stock purchases late Wednesday, buying Knight's unwanted positions in one block sale, CNBC reported, citing people familiar with the matter.

Goldman charged $440 million for the transaction, the people said.

CNBC reported that Knight has three business days to settle.

In a statement early Thursday, Knight said it had "traded out of its entire erroneous trade position, which has resulted in a realized pre-tax loss of approximately $440 million."

The New York Times reported Friday that Knight is in discussions for a potential sale of its futures brokerage unit with R.J. O'Brien and other potential buyers, citing people briefed on the matter.

The Times report also mentioned Peak6 as a potential buyer of Knight assets.

Full story at http://www.cnbc.com/id/48489000 and http://dealbook.nytimes.com/2012/08/03/knight-said-to-hold-talks-to-sell-futures-brokerage-unit/

Write to [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Goldman Sachs Group, Inc., Knight Capital Group Inc.
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Financials ($)
Sales 2017 31 873 M
EBIT 2017 11 218 M
Net income 2017 7 811 M
Debt 2017 -
Yield 2017 1,30%
P/E ratio 2017 11,86
P/E ratio 2018 10,84
Capi. / Sales 2017 2,82x
Capi. / Sales 2018 2,70x
Capitalization 89 825 M
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Number of Analysts 31
Average target price 245 $
Spread / Average Target 8,3%
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Lloyd Craig Blankfein Chairman & Chief Executive Officer
Harvey Mitchell Schwartz Co-President, Co-Chief Operating Officer & CFO
David Solomon Co-President & Co-Chief Operating Officer
James A. Johnson Independent Director
William W. George Independent Director
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