Private Equity Firm to Acquire 30% Stake in LMAX Group
Main page News, Cryptocurrency Exchanges

J.C. Flowers & Co, an American private equity investment firm, has signed an agreement with LMAX Group to buy a 30% stake in the company for $300 million. The investment puts the valuation of LMAX Group at $1 billion, an announcement says.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

"This is a significant milestone in the evolution of LMAX Group that vindicates our industry-leading business model and the role we have to play in the foreign exchange and crypto currency markets of the future," said David Mercer, LMAX Group CEO.

LMAX Launches First-Ever Crypto Exchange For Institutional Investors

However, the deal is yet subject to regulatory approval, LMAX noted. The company also added that David Mercer will remain on his position at LMAX Group having retained a "substantial stake" alongside his management team and J.C. Flowers.

Meanwhile, BlackRock CEO, Larry Fink, says the world's largest asset manager does not see any interest in cryptocurrencies from its institutional clients. According to Fink, the firm's clients are more worried on issues around climate change and inflation than cryptocurrencies.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error