PARIS (Reuters) – French gaming firm La Francaise des Jeux launched on Monday a takeover provide to purchase European on-line peer Kindred Group, in a deal which it mentioned would create the second-biggest operator in Europe’s gaming sector.
FDJ mentioned it was providing 130 Swedish crowns ($12.43) a share for Kindred, which might correspond to an enterprise worth of two.6 billion euros ($2.83 billion) and characterize a premium of 24% to Kindred Group’s Jan. 19 closing worth.
FDJ’s provide additionally values Kindred Group’s fairness market capitalisation at round 29.5 billion Swedish crowns ($2.82 billion).
“I’m happy to announce at the moment the proposed acquisition of Kindred,” mentioned FDJ Chairwoman and CEO Stéphane Pallez.
“The mix will lead to a stronger strategic positioning and vital worth creation for the good thing about our shareholders and broader stakeholder,” she added.
FDJ, which runs lottery scratchcards in France and wherein the French state holds an fairness stake of 20%, mentioned the takeover of Kindred Group would increase its earnings and lead to an accretion of greater than 10% in its dividend per share.
($1=10.4567 Swedish crowns)
($1 = 0.9173 euros)
(Reporting by Sudip Kar-Gupta; Modifying by Clarence Fernandez)
