CVC Considering $1.2B Deal For Gambling Site Betfair

Law360, New York (April 15, 2013, 3:21 PM EDT) -- Private equity mainstay CVC Capital Partners is in talks to take over London-listed online gambling outfit Betfair Group PLC, it confirmed Monday, while reports swirled that a go-private deal could be worth about £750 million ($1.2 billion).

In a brief statement, CVC Capital confirmed it had held early-stage discussions with major Betfair shareholders Richard Koch and Antony Ball. The investors could be potential partners if the firm decides to lead a consortium in a buyout campaign, it said.

The investment house stayed tight-lipped about specifics, and...
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