{"id":6337,"date":"2012-05-12T06:47:18","date_gmt":"2012-05-12T05:47:18","guid":{"rendered":"http:\/\/www.betangel.com\/blog_wp\/?p=6337"},"modified":"2012-05-19T11:37:26","modified_gmt":"2012-05-19T10:37:26","slug":"goldman-sachs-sells-off-entire-betfair-lmax-stake","status":"publish","type":"post","link":"https:\/\/www.betfairtradingblog.com\/blog_wp\/2012\/05\/12\/goldman-sachs-sells-off-entire-betfair-lmax-stake\/","title":{"rendered":"Goldman Sachs sells off entire Betfair LMAX stake"},"content":{"rendered":"

Missed this the first time around but thought it was of interest.<\/p>\n

INVESTMENT bank Goldman Sachs has sold out its investment in LMAX, the online trading platform owned by Betfair. The bank\u2019s exit comes as the platform struggles to live up to its earlier expectations. Its chief executive left last year as trading volumes failed to live up to hopes. Betfair said that its decision to invest a further \u00a310m in LMAX diluted Goldman\u2019s 12.5 per cent shareholding to less than five per cent, meaning it no longer qualified for a seat on the board.<\/p>\n

Former equity trader Phil Hylander, Goldman\u2019s representative, who has himself retired from the bank, subsequently stepped down from the LMAX board and Betfair bought out the bank\u2019s residual holding.<\/p>\n

Full story here: –<\/p>\n

https:\/\/www.cityam.com\/latest-news\/goldman-sells-its-entire-lmax-stake<\/a><\/p>\n

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Missed this the first time around but thought it was of interest. INVESTMENT bank Goldman Sachs has sold out its investment in LMAX, the online trading platform owned by Betfair. The bank\u2019s exit comes as the platform struggles to live up to its earlier expectations. Its chief executive left last year as trading volumes failed […]<\/p>\n

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