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General Atlantic Enters Into Share Exchange With KCG

Paul, Weiss is representing General Atlantic in its share exchange agreement with KCG Holdings, Inc., a leading independent securities firm. Under the terms of the transaction, KCG will exchange 8.9 million shares of Bats Global Markets, Inc. for all of General Atlantic's 18.7 million shares and 8.1 million warrants of KCG. In 2007, General Atlantic invested in GETCO, a predecessor to KCG. The transaction is expected to close by the end of November, with a portion of the warrants to be settled in early January.

The Paul, Weiss team included corporate partners Matthew Abbott, John Kennedy and Ellen Ching; and tax partner Richard Bronstein.

November 18, 2016

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