(Reuters) - EquiLend Holdings LLC, the securities lending platform owned by 10 of the biggest Wall Street firms, including Goldman Sachs Group Inc and BlackRock Inc, is exploring a sale following settlement of a major collusion lawsuit, people familiar with the matter said.
Euronext NV is one of the parties interested in EquiLend, one of the sources added.
EquiLend generates 12-month earnings before interest, taxes, depreciation and amortization of more than $25 million, two of the sources said.
One of the sources added that EquiLend may fetch about $700 million in a sale.
Goldman Sachs, JPMorgan, Morgan Stanley and UBS agreed to pay $499 million last month to settle the lawsuit that accused them of conspiring to stifle competition in the stock lending market using EquiLend.
Persons:
Amr Alfiky, Broadhaven, Morgan Stanley, EquiLend, Goldman Sachs
Organizations:
Reuters, EquiLend Holdings, Goldman Sachs Group Inc, BlackRock Inc, Trade Center, REUTERS, Broadhaven Capital Partners, Wall Street, Bank of America Corp, UBS Group AG, JPMorgan Chase &, JPMorgan, UBS
Locations:
Manhattan, New York City, U.S, EquiLend