Goldman Sachs Buys Stake in Betfair Stock Exchange, Times Says

Goldman Sachs Group Inc. bought a 12.5 percent stake in Betfair Ltd.’s stock exchange, the Sunday Times reported, citing people familiar with the plans.

The exchange, called LMAX, will allow users to trade “contracts of difference” and has been approved by the Financial Services Authority, the London-based newspaper said.

Betfair declined to comment on LMAX ahead of an expected initial public offering later this year, the newspaper said.

Separately, IG Group Holdings Plc, owner of the IG Index financial spread-betting brand, asked PricewaterhouseCoopers LLP to find a buyer for its sports-betting arm Extrabet, the Times said, without citing anyone.

To contact the reporter on this story: Abigail Moses in London at Amoses5@bloomberg.net.

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