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Vedder Thinking | News Firm Represents UK Company GST Capital in its Purchase by Dutch Electronic Trader Webb

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Vedder Price Partner Sam Tyfield represented GST Capital, a UK-based proprietary trading firm, in its multi-million Euro purchase of the company by Webb Traders, a Dutch electronic trader. The transaction is viewed as a move by Webb Traders to secure a hedge against Brexit–the UK’s departure from the EU.

According to an article covering the deal in The Financial Times Limited, the purchase by Webb, (“Worldwide Electronic Bulls & Bears”) was primarily “to secure access to UK markets such as the London Stock Exchange.” (Quoting Marco van den Berg, managing director at Webb.)

GST Capital was a proprietary trading firm established by ex-Hamilton Capital trader Gary Spiro. Webb mainly trades equities, futures and options in Europe. The company has been listed on the London Stock Exchange since 2010.

The deal had been finalized in early February, pending approval from the Financial Conduct Authority, which was secured last week.